Economic theory and the ‘economic miracle’

2020 ◽  
pp. 131-163
Author(s):  
Tessa Morris-Suzuki
Keyword(s):  
Economic Theory ◽  
Economic Miracle

The “China Miracle”: Thinking on Economic Theory Innovation

2019 ◽  
Vol 10 (03) ◽  
pp. 1950014
Author(s):  
Bin Xia
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Economic Theories ◽  
Economic Miracle ◽  
Chinese Characteristics ◽  
Reform And Opening Up ◽  
Opening Up

Starting with explaining the differences between theory and experience, based on various schools of economic theories, this paper sorts out and evaluates different views of Chinese Economists’ theoretical summaries of the “economic miracle” for 40 years since reform and opening-up, and then analyses four fundamental reasons behind the divergence among the economists. The paper expresses the understanding of Chinese Economics, the School of Chinese Economics and the Socialist Political Economy with Chinese Characteristics and puts forward several issues for further improvement on innovations of economic theory.

A Theory of China's 'Miracle': Eight Principles of Contemporary Chinese Political Economy

2017 ◽  
Vol 68 (8) ◽  
pp. 46 ◽  
Author(s):  
Cheng Enfu ◽  
Ding Xiaoqin
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Economic Development ◽  
Theoretical Model ◽  
Economic Miracle ◽  
Monthly Review ◽  
Beijing Consensus ◽  
Developmental Gains ◽  
China Model ◽  
Contemporary Chinese

China's rapid economic development in recent years is often characterized as "miraculous." Talk of a "Beijing Consensus" or "China model" has become commonplace in academic debates. But as we have written elsewhere, "theoretical problems have started to emerge with regards to the very existence, content, and prospects of the China model." The key question, then, is what kind of economic theory and strategy underpin this "miracle."… [W]e hold that the country's major recent developmental gains are the achievements of theoretical advances in political economy, originating in China itself, while the main problems that have accompanied China's development reflect the damaging influence of Western neoliberalism.… We hope to clarify the official theoretical model behind China's economic "miracle," using the terms and concepts prevalent in China today.Click here to purchase a PDF version of this article at the Monthly Review website.

On Modern Scientific Assessment of the Economic Theory of Marx-Engels-Lenin (Ten Items for Reflection)

2004 ◽  
pp. 111-130 ◽  
Author(s):  
V. Kudrov
Keyword(s):  
Economic Theory ◽  
Surplus Value ◽  
Scientific Assessment ◽  
General Law

Substantive provisions of the Marx-Engels-Lenin economic theory in comparison with vital realities of XX century are critically considered in the article. Theories of surplus value, labor value, general law of capitalist accumulation, absolute and relative impoverishment of proletariat are examined. The author points to utopianism and inconsistency of Marx's theory and calls Russian economists for creation of new economic theory adequate to challenges of XXI century.

"Marketocentric" Economics Is Obsolete

2004 ◽  
pp. 36-49 ◽  
Author(s):  
A. Buzgalin ◽  
A. Kolganov
Keyword(s):  
Economic Theory ◽  
Middle Ages ◽  
Modern Science ◽  
Economic Systems ◽  
Main Mode ◽  
Post Market ◽  
Market Relations ◽  
Post Industrial ◽  
The 19Th Century ◽  
The Universe

The "marketocentric" economic theory is now dominating in modern science (similar to Ptolemeus geocentric model of the Universe in the Middle Ages). But market economy is only one of different types of economic systems which became the main mode of resources allocation and motivation only in the end of the 19th century. Authors point to the necessity of the analysis of both pre-market and post-market relations. Transition towards the post-industrial neoeconomy requires "Copernical revolution" in economic theory, rejection of marketocentric orientation, which has become now not only less fruitful, but also dogmatically dangerous, leading to the conservation and reproduction of "market fundamentalism".

Beyond Market: Institutions of Governance in the Complex World (Nobel Memorial Prize in Economics 2009 - Oliver Williamson and Elinor Ostrom)

2010 ◽  
pp. 82-98 ◽  
Author(s):  
Ya. Kuzminov ◽  
M. Yudkevich
Keyword(s):  
Economic Theory ◽  
Behavioral Economics ◽  
Nobel Prize ◽  
Organization Theory ◽  
Development Studies ◽  
Complex World ◽  
Market Institutions ◽  
Institutional Economic

The article surveys the main lines of research conducted by Oliver Williamson and Elinor Ostrom - 2009 Nobel Prize winners in economics. Williamsons and Ostroms contribution to understanding the nature of institutions and choice over institutional options are discussed. The role their work played in evolution of modern institutional economic theory is analyzed in detail, as well as interconnections between Williamsons and Ostroms ideas and the most recent research developments in organization theory, behavioral economics and development studies.

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