Some thoughts on establishing the theoretical system of socialist political economics with Chinese characteristics

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kaiyan Shen
Keyword(s):  
Political Economy ◽  
Economic System ◽  
Market Economy ◽  
Economic Reform ◽  
Socialist Market Economy ◽  
Content Type ◽  
Theoretical System ◽  
Chinese Characteristics ◽  
Socialist Economic ◽  
Socialist Market

PurposeIt is scholars' great mission in this era to creatively develop new implications, paradigms and discourses of China's political economy and establish a theoretical system of political economy with Chinese characteristics based on the fundamental principles of Marxist theory and the practice and historical process of Chinese economic reform, through theorizing and systemizing the practices of China's socialist market economy construction. The purpose of this paper is to give some suggestions to establish a socialist theoretical system with Chinese characteristics.Design/methodology/approachThis paper makes a comprehensive analysis of the principles, objectives, study objects, methodologies as well as the framework of the theoretical system of the political economy with Chinese characteristics.FindingsAdditionally, starting from the unity of opposites between public ownership of resources and resource allocation in a market mechanism, which is the fundamental dialectical relation of China's socialist market economy, the authors will adopt the dual dialectical analysis approach to discover and understand the duality features of the socialist economic system with Chinese characteristics.Originality/valueWith adherence to the mission of China's socialist economic system, the goal of China's market economic reform, and the perspectives of Marxist political economy, the authors must explicitly define the so-called Chinese characteristics and then summarize the dynamics and innovations during the evolution of Chinese socialist political economy with high theory confidence and theory self-consciousness.

scholarly journals Analysis of the innovation and development of the socialist market economy theory

2019 ◽  
Vol 2 (1) ◽  
pp. 85-97
Author(s):  
Jiayong Hu
Keyword(s):  
Political Economy ◽  
Market Economy ◽  
Distribution System ◽  
Allocation Mechanism ◽  
Socialist Market Economy ◽  
Content Type ◽  
Chinese Characteristics ◽  
The Government ◽  
Opening Up ◽  
Socialist Market

Purpose As a major theoretical breakthrough of the Marxist political economy based on the practice of China’s reform and opening up, the theory of socialist market economy constitutes an important part of the political economy of socialism with Chinese characteristics. The paper aims to discuss this issue. Design/methodology/approach Its essence is that socialism (as a social system) and market economy (as a resource allocation mechanism) can be organically integrated to exert the advantages of both at the same time and generate new institutional and systematic advantages. Findings It has condensed many important theoretical viewpoints, involving major theoretical and practical issues, such as the relationship between the government and the market, the basic economic system, the income distribution system, the operation of the market economy and the opening up to the outside world, which have become the basic principles of socialist political economy with Chinese characteristics. Originality/value The new practice of comprehensively deepening reform and building a moderately prosperous society in an all-round way is bound to provide an impetus to the deepening and systematization of the theory of socialist market economy.

scholarly journals Socialist political economy with Chinese characteristics in a new era

2020 ◽  
Vol 3 (2) ◽  
pp. 307-325
Author(s):  
Yinxing Hong
Keyword(s):  
Political Economy ◽  
Economic Development ◽  
Economic System ◽  
The Political ◽  
Content Type ◽  
New Era ◽  
Economic Operation ◽  
Theoretical System ◽  
Chinese Characteristics ◽  
Level Analysis

PurposeThe socialist political economy with Chinese characteristics reflects the characteristics of ushering into a new era, and the research object thereof shifts to productive forces. Emancipating and developing productive forces and achieving common prosperity become the main theme. Wealth supersedes value as the fundamental category of economic analysis.Design/methodology/approachThe theoretical system of socialist political economy with Chinese characteristics cannot proceed from transcendental theories but is problem-oriented. Leading problems involve development stages and research-level problems.FindingsThe economic operation analysis is subject to the goal of optimal allocation of resources with micro-level analysis focused on efficiency and macro-level analysis focused on economic growth and macroeconomic stability also known as economic security. The economic development analysis explores the laws of development and related development concepts in compliance with laws of productive forces. The new development concepts i.e. the innovative coordinated green open and shared development drive the innovation of development theory in political economy.Originality/valueAccordingly, the political economy cannot study the system only, but also needs to study the problems of economic operation and economic development. Therefore, the theoretical system of the political economy tends to encompass three major parts, namely economic system, economic operation and economic development (including foreign economy). The basic economic system analysis needs to understand the relationship between public ownership and non-public ownership, between distribution according to work and factor payments, and between socialism and market economy from the perspective of coexistence theory, thus transforming institutional advantage into governance advantage.

scholarly journals On the organic combination of public ownership and market economy

2018 ◽  
Vol 1 (1) ◽  
pp. 67-83 ◽  
Author(s):  
Yu Zhang
Keyword(s):  
Market Economy ◽  
Economic Restructuring ◽  
Public Ownership ◽  
Socialist Market Economy ◽  
Content Type ◽  
Economic Operation ◽  
Chinese Characteristics ◽  
Depth Study ◽  
The Relationship ◽  
Socialist Market

Purpose Since the implementation of reform and opening up, China has made remarkable achievement in terms of economic reform and development. China’s path, as well as its experience, has simultaneously gained worldwide concerns. Developing the market economy against the backdrop of socialism brings conclusions from China’s achievement, deepens knowledge of China’s pathway and builds a socialist political economy with Chinese characteristics. That is the way to realise a basic socialist system, especially with regards to the organic integration of public ownership and market economy. This combination determines the future of socialism with Chinese characteristics and the success or failure of economic restructuring. Therefore, it requires consideration and in-depth study. The paper aims to discuss these issues. Design/methodology/approach The goal of economic restructuring is to establish and develop the socialist market economy. Its main content can be summarised in two parts. The first is the relationship between plan and market or government and market. The second is compatibility or combination of public ownership and market economy. The former is one of the superficial problems, relevant to resource allocation method or economic operation mechanism. The latter stems from deep-rooted problems, represented by ownership or the underlying economic system. These two work together to form the organic integrity of socialist market economy where both similarities and contrasts coexist. Findings The shared ideal of socialism with Chinese characteristics and the lofty goals of communism will then become empty words. In this sense we can say that, whether we can realise the unity and opposition between public ownership and market economy and better integrate advantages of socialist system with strengths of market economy, will to a large extent determine the future and destiny of the socialist market economy. Originality/value As previously mentioned, the relationship between plan and market or government and market are part of resource allocation methods or economic operation mechanism. Compatibility and combination, however, with public ownership and market economy are part of an ownership or basic economic system. Science reveals the nature and developmental law of the socialist market economy. An in-depth study must be conducted on the relationship between public ownership and market economy.

scholarly journals Productivity, public capital, and socialism with Chinese characteristics – A critique of the doctrine of incompatibility between capital and public ownership

2020 ◽  
Vol 3 (1) ◽  
pp. 121-139
Author(s):  
Zhaozi Rong
Keyword(s):  
Market Economy ◽  
Design Methodology ◽  
Public Capital ◽  
Public Ownership ◽  
Socialist Market Economy ◽  
Content Type ◽  
The Public ◽  
Chinese Characteristics ◽  
Surplus Labour ◽  
Socialist Market

PurposeThis paper is a response to the doctrine that capital is incompatible with public ownership. The fundamental characteristics of modern productivity determine the co-existence of the market economy and capital relations.Design/methodology/approachSocialism can neither bypass the market economy nor “go beyond capital”; capital appears in two historical forms, including the private capital and the public capital. Public capital is the inevitable outcome of the inherent contradictions of public ownership in a socialist market economy.FindingsIt represents an economic relationship that compels individual labourers to provide surplus labour for the society. The combination of the strong accumulation function of public capital and the improvement of people's welfare is the main cause of China's development miracle.Originality/valueThe innovation impetus of the public capital and its “immunity” to the capitalist crisis highlight the tremendous power of socialism with Chinese characteristics in breaking free of the shackles of capitalism and continuously developing productive forces. Public capital demonstrates and will continue to demonstrate the historical legitimacy of socialism.

scholarly journals The logic of four decades of economic reform and major breakthroughs in political economy in China

2019 ◽  
Vol 2 (1) ◽  
pp. 2-13
Author(s):  
Yinxing Hong
Keyword(s):  
Political Economy ◽  
Economic Reform ◽  
Design Methodology ◽  
Content Type ◽  
Theoretical Contribution ◽  
Development Path ◽  
Chinese Characteristics ◽  
Socialist Economic ◽  
National Congress ◽  
China’S Economy

Purpose In the process of reform, although every landmark theoretical breakthrough is marked by the speech of the highest leadership of the Communist Party of China (CPC) or the decision of the CPC National Congress, each breakthrough is attributable to the theoretical contribution made by the academia of political economy. Notably, these theoretical breakthroughs invariably embrace innovations in the discourse system of political economy. The paper aims to discuss this issue. Design/methodology/approach The innovations and breakthroughs thereof have led to the political economy of socialism with Chinese characteristics. Findings The success of China’s economy highlights the superiority of the socialist economic system and development path with Chinese characteristics. Originality/value These major breakthroughs are accompanied by breakthroughs in relevant theories, which constitute a synthesis of a series of major theoretical innovations in political economics.

scholarly journals THE INFLUENCE OF CIVIL CODE ON ECONOMIC LAW

2021 ◽  
Author(s):  
YUN-LING YU
Keyword(s):  
Economic Development ◽  
Market Economy ◽  
Legal System ◽  
Civil Law ◽  
Civil Code ◽  
Socialist Market Economy ◽  
Economic Law ◽  
Chinese Characteristics ◽  
The Relationship ◽  
Socialist Market

The promulgation of the "Civil Code" provides a path for the codification of other important legal departments closely related to the socialist market economy and the improvement of the socialist legal system with Chinese characteristics. However, due to the fact that the development of economic law in our country is relatively short and the economic development is changing rapidly, the current economic code is facing numerous obstacles. This article analyzes the relationship between civil law and economic law, drawing on the innovation of the content of the Civil Code, and puts forward new requirements for the development of the content, concept and system of economic law, and promotes the development of economic law.

scholarly journals A reflection on borrowing from western economics

2019 ◽  
Vol 2 (2) ◽  
pp. 238-257
Author(s):  
Fuqian Fang
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Market Economy ◽  
Capitalist System ◽  
Content Type ◽  
Operating Rules ◽  
Market Economy System ◽  
Chinese Characteristics ◽  
Internal Relations ◽  
Great Practice

Purpose Western economics came into being with the rise of the capitalist market economy. It had a nature of duality beginning from its birth: the justificativeness of providing theoretical pillars for the capitalist market economy system and the scientificity of revealing the internal relations and operating rules of the capitalist market economy. The paper aims to discuss this issue. Design/methodology/approach However, after the 1830s, this justificativeness gradually evolved into vulgarity. Since the 1930s, modern western mainstream economics has mainly explored the general market economy on the assumption that the capitalist system remains unchanged, and many outcomes of such research are positive and beneficial. Findings Political economy of socialism with Chinese characteristics, at the present stage, is mainly a Chinese socialist market economics. It is guided by the Marxist political economy and rooted in the great practice of China’s reform and opening up and socialist modernization. Originality/value According to political complexion, western economic theories can be divided into political economic theory, mainstream economic theory and basic economic theory. By subjecting these theories to what we term “elimination,” “transformation” and “transplantation” surgeries, respectively, we can absorb and accommodate their beneficial elements in building a political economy of socialism with Chinese characteristics, which in turn is conducive to the development and prosperity of such an economy.

scholarly journals China at the crossroads

2020 ◽  
Vol 70 (S) ◽  
pp. 5-14
Author(s):  
László Csaba
Keyword(s):  
Economic System ◽  
Market Economy ◽  
Top Down ◽  
Socialist Market Economy ◽  
Official Ideology ◽  
Third Line ◽  
Hybrid Regime ◽  
Socialist Market ◽  
New Millennium

AbstractThis essay joins in the international controversy about the nature and sustainability of the economic system in China. While official ideology continues to stick to the concept of ‘socialist market economy,’ albeit with changing contents, international observers are split. One group considers China as a de facto market economy, which is in line with the top-down tradition of ruling in the region. Others consider it as a sui generis system. And a third line takes it as yet another case of hybrid regime which proliferated globally in the new millennium. I try to create a link between these readings and the empirics of Chinese growth. This may help interpret the slowdown, exacerbated by the COVID-19 epidemics on Chinese output.

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