scholarly journals A new solution to the “difficult problem” of the object of study of political economy

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jiguo Yang ◽  
Renshu Yuan
Keyword(s):  
Political Economy ◽  
Karl Marx ◽  
Difficult Problem ◽  
Broad Sense ◽  
Narrow Sense ◽  
Content Type ◽  
Chinese Characteristics ◽  
Object Of Study ◽  
Mode Of Production ◽  
Exchange Relations

PurposeAs there are different interpretations of the object of study in the preface to the first edition of Capital (Volume I) by Karl Marx, disagreements arise over the object of study on political economy, which becomes a “difficult problem.” The purpose of the paper is to bring a new solution to the “difficult problem.”Design/methodology/approachBased on the analysis of the logic of the original text, the authors attempted to give a new interpretation of the “difficult problem” by analyzing the structure of Capital. The object of study of political economy is “the relations of production in the broad sense” of the capitalist mode of production.FindingsIt comprises relations of production in the narrow sense and exchange relations in the broad sense, and the latter can be divided into exchange relations in the narrow sense and distribution relations. The three of them correspond to Volume I, II and III of Capital, respectively. Consumption in “the four-section theory” is not studied by the political economy.Originality/valueAnd the four-section theory is not a part of the theory of Marxist economics but a part of the classical economics criticized by Marx. Therefore, the object of study of socialist political economy with Chinese characteristics is “the relations of production in the broad sense” regarding the socialist mode of production with Chinese characteristics, which is different from the capitalist relations of production in the broad sense.

scholarly journals Critical examination and source-tracing in China of economic thought of Francois Quesnay from the perspective of the construction of socialist political economics with Chinese characteristics

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xu Zhang ◽  
Tianjiao Wang
Keyword(s):  
Political Economy ◽  
Chinese Culture ◽  
Karl Marx ◽  
Political Economics ◽  
Economic Thought ◽  
Critical Examination ◽  
Content Type ◽  
Source Tracing ◽  
Chinese Characteristics ◽  
Traditional Chinese Culture

PurposeFrancois Quesnay, known as the “Confucius of Europe”, was profoundly influenced by traditional Chinese culture to form his thoughts, which contained strong Chinese characteristics. This paper aims to examine economic thought of Francois Quesnay from the perspective of the construction of socialist political economics with Chinese characteristics.Design/methodology/approachMoreover, his thoughts also profoundly influenced subsequent economists, such as Adam Smith and Karl Marx. It can be said that Francois Quesnay was at the intersection of Chinese, Western and Marxist thought systems, so it is quite important to examine his thoughts critically and conduct source-tracing in China.FindingsHence, in the process of constructing and developing socialist political economy with Chinese characteristics, there is an urgent need to focus on exploring the value of excellent traditional Chinese culture at the theoretical level and combining the development and dissemination of the history of thoughts and the historical position of Chinese reality to realize the innovation and development of socialist political economy with Chinese characteristics.Originality/valueMeanwhile, while absorbing nutrition from excellent traditional Chinese culture, it is necessary to establish scientific coordinates rather than use the discourse systems and paradigms of Western economics to interpret ancient Chinese economic thoughts. It is necessary to adhere to, inherit and develop Marxist political economy and absorb nutrition from Chinese excellent traditional culture to construct socialist political economy with Chinese characteristics.

scholarly journals The coordination and balance of economic structure is a major theoretical innovation of socialist political economy with Chinese characteristics in the new era

2020 ◽  
Vol 3 (1) ◽  
pp. 39-55
Author(s):  
Di Xie ◽  
Xiao Kong
Keyword(s):  
Political Economy ◽  
Economic Structure ◽  
Central Committee ◽  
Socialist Economy ◽  
Economic Activities ◽  
Content Type ◽  
New Era ◽  
General Law ◽  
Chinese Characteristics ◽  
Theoretical Innovation

PurposeThe proportional distribution of social labor is a general law governing human social and economic activities, also a law discovered by Marxist political economy that governs socialist economic operations and development based on public ownership.Design/methodology/approachThis law draws on Marx's vision of future society, but how it is adopted is not only subject to the way a country's economy interacts but also to the influence of a country's historical and cultural traditions. Generations of the CPC and state leaders since Mao Zedong have made unremitting explorations for its application.FindingsAs socialism with Chinese characteristics enters a new era, the Party Central Committee with Comrade Xi Jinping at the core adheres to the standpoints, viewpoints and methods of Marxist political economy, draws from the splendid Chinese traditional culture that values integrity, peace and harmony of all, builds on the reality of China's socialist market economy development, has summed up the features of socialist economy development with Chinese characteristics, and has proposed the five-sphere integrated plan, the four-pronged comprehensive strategy.Originality/valueThe new development concept of “innovation, coordination, green development, openness, and sharing” for socialism with Chinese characteristics, all reflecting the Party's deepening understanding of coordinated development, the gradual formation of the general thought and policy methods of the country's economic regulations based on the coordination and balance of economic structure, the continuous explorations to open a new chapter of contemporary Marxist political economy, China's experience and wisdom, and the Party's confidence in the theories it applies, the road it takes, its system and its culture. The coordination and balance of economic structure are a major theoretical innovation of socialist political economy with Chinese characteristics in the new era.

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 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.

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.

Das Kapital and political economy in the broad sense: a review on Wang Yanan’s research

2018 ◽  
Vol 1 (1) ◽  
pp. 130-135
Author(s):  
Lu Jiang ◽  
Yang Ge
Keyword(s):  
Political Economy ◽  
Historical Materialism ◽  
Broad Sense ◽  
The Political ◽  
Capitalist System ◽  
Content Type ◽  
Economic Relations ◽  
Political Economic ◽  
The Relationship ◽  
Broad Outline

Purpose Wang has focused on the relationship between Das Kapital and the political economy in the broad sense. Numerous ideas covering the political economy in the broad sense are involved in the overall structure of Das Kapital, methodology of historical materialism and analyses of the historical fate of capitalist system. The paper aims to discuss these issues. Design/methodology/approach In broad outline, the Asiatic, ancient, feudal and modern bourgeois modes of production may be designated as epochs, marking progress in the economic development of society (Wang, 2007b). Historical materialism provides a new, scientific and objective explanation for understanding the dialectical development laws of society. It is crucial for constructing the theoretical system of a political economy in the broad sense. It could be said that it is the key to solving the puzzle of the historical course of social development. Findings Today, economic relations between the world’s top two economies have merged with each other. How can two countries with different systems trade with each other so well? These questions can no longer be answered with traditionally narrow political economic theory. The authors have to seek these answers from the perspective of a political economy in the broad sense. Originality/value Numerous ideas covering the political economy in the broad sense are involved in the overall structure of Das Kapital, methodology of historical materialism, and analyses of the historical fate of capitalist system.

scholarly journals Economic Zeitgeist in Xi Jinping

2018 ◽  
Vol 1 (2) ◽  
pp. 150-162
Author(s):  
Gu Hailiang
Keyword(s):  
Political Economy ◽  
Historical Background ◽  
Important Indicator ◽  
Content Type ◽  
Chinese Characteristics ◽  
New Development ◽  
Modern Economic ◽  
Basic Characteristics ◽  
Strategic Support ◽  
Institutional Guarantee

Purpose Xi Jinping’s speech on the theme of “Continuously Exploring the New Zeitgeist of Marxist Political Economy in China,” dated back to November 2015, has illuminated the historical background, social roots, practical basis, basic characteristics, Zeitgeist, ideological realm and other issues relative to the development of “Systematic Economic Theory” with Chinese characteristics (hereinafter referred to as SETCC). The paper aims to discuss these issues. Design/methodology/approach Exploring the SETCC marks a fundamental postulation for the development of contemporary Chinese Marxist political economy, and an important indicator of the Chinese wisdom thereof. Findings Unswervingly adhering to the new development concept as the leading factor, General Secretary Xi Jinping’s elucidation of the theoretical propositions and practical topics of building a modern economic system has, starting from the five aspects of development mainline, strategic support, fundamental approach, necessary road and institutional guarantee, and their interrelationships, unfolded new connotations and opened up a new realm of Xi’s New Economic Zeitgeist with new explorations on the structure and system of SETCC. Originality/value This paper first explains the development of Xi Jinping’s economic thoughts and reveals its systematization characteristics.

scholarly journals A study on the writing method of the history of socialist political economy with Chinese characteristics

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lin Zhang
Keyword(s):  
Political Economy ◽  
Design Methodology ◽  
Economic Policies ◽  
Content Type ◽  
Theoretical Contribution ◽  
Chinese Characteristics ◽  
History Of ◽  
Development Route ◽  
The One ◽  
The Relationship

PurposeExpanding the research on traditional history of economic ideology into the research on the history of economics composed of three elements – history of ideology, history of policies and events – is a new idea for researching the history of socialist political economy with Chinese characteristics. The start of the history of socialist political economy with Chinese characteristics is consistent with that of the Sinicization of Marxist political economy and can be dated from at least 1917.Design/methodology/approachThe key point of the research on the history of ideologies of the socialist political economy with Chinese characteristics is to treat the relationship between theory and people properly, i.e. we should not neglect the effect brought out by the economists on theory construction while we attach importance to the theoretical contribution of the leaders and leading group of the Communist Party of China (CPC).FindingsFor the research on the history of economic policies of socialist political economy with Chinese characteristics, on the one hand, we should clarify the relationship among ideologies, strategies and policies; on the other hand, we should not evade the summarization of lessons from history.Originality/valueBesides presenting the development route of socialist political economy with Chinese characteristics under competition, the research on the events in the history of socialist political economy with Chinese characteristics should also help develop the socialist political economy with Chinese characteristics.

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 The discovery of surplus value: Karl Marx and Senior’s ‘last hour’

2017 ◽  
Vol 17 (1) ◽  
pp. 41-54
Author(s):  
Kenneth Smith
Keyword(s):  
Political Economy ◽  
Karl Marx ◽  
The Other ◽  
Surplus Value ◽  
Capitalist Mode ◽  
Oxford University ◽  
University Professor ◽  
Working Day ◽  
Capitalist Enterprise ◽  
Mode Of Production

This essay claims to discover the point at which Marx worked out his theory of surplus value sometime during the 10-year period between 1857 and the publication of Capital Vol. I in 1867. This, it is claimed, was due to his reading of a well-known pamphlet by an English Oxford University professor of political economy, Nassau W. Senior. Senior had claimed that capitalist manufacturers made all of their profit during the last hour of the then normal 12-hour working day. Marx knew that this was incorrect since, if Senior was right, the capitalists might just as well employ their workers for this 1 hour alone and not bother with the other 11 hours of the working day. The workers must then have been doing something else which was of value to the capitalists over and above merely producing their profit. This something else Marx realised was nothing less than the renewal of the worn out fabric of the capitalist enterprise and hence, along with this, the recreation year after year of the capitalists claims to be the legitimate owners of the enterprise. This essay then also claims to have identified two letters by Marx written just 11 months apart which might help to further date the discovery of surplus value, in the first of which, written in 1862, Marx gives Senior’s incorrect view of surplus value as profit and in the second of which, written in 1863, he gives his mature view of surplus value as profit plus the recreation of the capitalist mode of production itself. Having made this theoretical breakthrough by 1863, Marx finally stopped making notebooks and threw himself into the writing of Capital Vol. I in 1864, the year in which by chance Nassau Senior died.

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