Theoretical Study On China's Political Economy

Description

In an open world, the socialist political economy with Chinese characteristics features openness. If China expects to participate and play a leading role in the governance of global economy in economic globalization, it needs to adopt a common discourse to foster its economy to "go global." The common discourse can be obtained in a market economy as well as among developing countries eager to seek development. This book attempts to theorize the socialist political economy with Chinese characteristics by absorbing critically the well-established economic theories worldwide. The selective learning of western economics in terms of theories and categories is based on China's full confidence in the theory, path and system with the adherence to the core socialist values as a presupposition. The author argues that the socialist political economy with Chinese characteristics in the new era is a Marxist political economy in contemporary China. The book clearly states that the construction of its theoretical system should combine Marxist theories with China's practice, especially after the reform and opening-up; progress with the times and target the principal social contradiction in the new era; and address China's challenges in growing stronger, or in other words, modernization. This book is a valuable reading on the new development of the various schools of thoughts on China's political economy over the last few decades. It can be used as a textbook for college students, researchers, and practitioners in the fields of economics, China studies, politics and sociology. Contents About the Author About the Translator Notes on Translation Introduction: A Few Questions Regarding the Construction of Socialist Political Economy with Chinese Characteristics Constructing Socialist Political Economy with Chinese Characteristics is the Mission of Our Time Productive Forces and Relations of Production Constitute the Objects of Study The Disciplinary Positioning of Socialist Political Economy with Chinese Characteristics The Main Line and Logical System of Socialist Political Economy with Chinese Characteristics Theoretical Resources for the Construction of the Discourse of Socialist Political Economy with Chinese Characteristics Delving into the Newest Achievements of Contemporary China’s Marxist Political Economy Responding to Significant Economic Development Problems that Occur after Entering the Middle-Income Stage Chapter 1 Socialist Political Economy with Chinese Characteristics as an Innovation of Marxist Political Economy 1.1 Innovations in the Research Objects of the Political Economy 1.1.1. Productive forces as an important aspect of political economy 1.1.2. Political economy studies multiple relations of production and their corresponding economic systems 1.1.3. Political economy studies economic operation and the corresponding economic system 1.2 The Innovation of the Essential Attributes of Political Economy 1.2.1. One must develop social productive forces 1.2.2. One must gradually achieve common prosperity and construct an economic theory of shared development with this end goal 1.2.3. One must promote people’s holistic development and construct a people-oriented economic theory with this goal 1.3 The Innovation of Economic System Theory 1.4 The Innovation of the Theory of Economic Development Bibliography Chapter 2 Innovating the Theoretical System of Socialist Political Economy with Chinese Characteristics 2.1 Socialist Political Economy with Chinese Characteristics is Marxist Political Economy of Contemporary China 2.2 Building a Systematic Economic Theory Concerning the Liberation, Development, and Preservation of Productive Forces 2.3 The Theoretical Innovation on Economic System Analysis 2.4 Innovative Theories on Economic Operation Analysis 2.5 Innovative Theories on Economic Development Analysis 2.5.1. The “new normal” phase theory 2.5.2. The new development concept 2.5.3. To seek development drives on both the supply side and the demand side 2.5.4. To improve total factor productivity Chapter 3 Capital and the Discourse System of Socialist Economy with Chinese Characteristics 3.1 Capital: A Critique of Political Economy Provides a Theory for the Discourse System of Socialist Economy with Chinese Characteristics 3.2 Explaining the Primary Stage of Socialism and Its Basic Economic System in the Discourse System of the Productive Forces and the Relations of Production 3.3 Explaining the Socialist Market Economy in the Discourse System of Commodity Economy and the Law of Value 3.4 Explaining the Distribution System at the Primary Stage of Socialism with the Relations of Production and the Relations of Distribution 3.5 Explaining the Economic Development of the New Stage in the Discourse System of Developing Productive Forces and Expanding Reproduction Bibliography Chapter 4 A Scientific Foresight of the Characteristics of Socialist Economy in Capital 4.1 The Inevitability of the Replacement of Capitalism by Socialism 4.1.1. The expropriation of exploiters is the inevitable result of history 4.1.2. The material basis of the new society’s establishment 4.2 The Basic Characteristics of Socialist Society 4.2.1. The public ownership of the means of production 4.2.2. Distribution according to work 4.2.3. The comprehensive development of people’s freedom 4.2.4. Planned economy 4.3 Scientific Understanding of Socialism in Practice Chapter 5 The Main Historical and Logical Line of China’s Economic Transformation 5.1 Exploring a Socialist Development Path with Chinese Characteristics in Accordance with the Conditions at the Primary Stage of Socialism 5.2 The Basic Economic System at the Primary Stage of Socialism Is the Concrete Embodiment of Socialism with Chinese Characteristics 5.2.1. In the basic economic system, public ownership plays a dominant role and diverse forms of ownership work alongside each other 5.2.2. The structure of the socialist market economy system 5.2.3. An income distribution system whereby distribution according to work dominates and multiple forms of distribution coexist 5.3 The Construction of the Socialist Economic System with Chinese Characteristics 5.3.1. The construction of enterprise system 5.3.2. The construction of a market system 5.3.3. The construction of macro control mechanism Bibliography Chapter 6 Deepening the Reform Comprehensively in the New Era 6.1 New Development Tasks in the New Era 6.1.1. Using reform to support economic development in the “new normal” phase 6.1.2. Using reform to go beyond the “middle-income trap” 6.1.3. Using reform to get rid of the urban–rural dual structure 6.2 Economic Structural Reforming Being Still the Focus of Deepening Reform Comprehensively 6.2.1. The decisive role of the market in resource allocation 6.2.2. Speeding up the transformation of governmental functions and corresponding reform of the governmental system 6.2.3. Upholding and improving the basic economic system 6.3 Cultivation of Impetus for Deepening the Reform Comprehensively in the New Era 6.3.1. Promoting social fairness and justice 6.3.2. Improving people’s livelihood 6.4 Political Courage and Wisdom as Necessities for Deepening Reform Comprehensively Bibliography Chapter 7 The Political Economy Will Progress along with the Times 7.1 The Modern Development of the Marxist Political Economy 7.2 The Tasks of the Political Economy Will Progress with the Times 7.3 The Methods by Which the Political Economy Will Progress with the Times 7.4 Studying the Political Economy with an Attitude of Progressing with the Times Chapter 8 The Theoretical and Methodological Innovations of the Political Economy in the Socialist Stage 8.1 The Missions of the Political Economy at Different Stages Determine Its Characteristic Progression with the Times 8.2 The Evolution of the Paradigm of the Political Economy 8.3 The Political Economy and the Development of Society’s Advanced Productive Forces Chapter 9 The Innovation and Development of the Marxist Political Economy 9.1 Concerning the Research Objects of the Political Economy 9.2 Concerning the Class Features and the Task of the Political Economy 9.3 On the Sinicization of the Marxist Political Economy 9.4 Comprehensively Deepening the Innovation and Development of Economics at the Stage of Reform 9.4.1. The innovation and development of the theory of the basic economic system 9.4.2. The innovation and development of the theory of socialist market economy 9.4.3. The innovation and development of the theory of income distribution Chapter 10 The Advanced Social Productive Forces and the Scientific Labor Theory of Value 10.1 Private Property and Private Capital 10.2 Social Labor and Advanced Productive Factors 10.3 Distribution According to Work and Distribution According to Factors Chapter 11 Marx’s Theory of Wealth Creation and Its Practical Significance 11.1 The Theoretical Distinction between Wealth and Value 11.2 The Source of Wealth Creation and Increase 11.3 Wealth Possession and the Sharing of Surplus Value Bibliography Chapter 12 The Attributes of Private Capital and Its Income Under Socialist Conditions 12.1 The General and Particular Qualities of Capital 12.2 Functioning and Non-functioning Capital 12.3 Incomes from Exploitation and Ownership Chapter 13 The Transition of the Ownership Structure in Accord with the Current Basic Economic System 13.1 Transformation of the Ownership Structure 13.2 Transformation of Public Ownership 13.3 The Promotion of the Private Economy Chapter 14 A Political-Economic Analysis of Virtual Economy and the Ensuing Financial Crisis 14.1 A Modern Financial Crisis Born Out of the Virtual Economy 14.2 The Essence of the Modern Financial Crisis Is Still a Crisis in the Real Economy 14.3 Overcoming Market Failure with Effective Government Interference and Institutional Adjustment Bibliography Chapter 15 Market’s Determination of Resource Allocation and Improved Role of the Government 15.1 From the Market’s Fundamental Role to Its Decisive One 15.2 Improving the Market Mechanism that Determines Resource Allocation 15.3 Government Allocation of Public Resources out of Respect for Market Law Bibliography Chapter 16 Theoretical Analysis of the Participation of Production Factors in Income Distribution 16.1 Theoretical and Institutional Compatibility of Production Factors’ Participation in Distribution 16.1.1. The compatibility of production factors’ participation in distribution with Marx’s labor theory of value 16.1.2. The compatibility of production factors’ participation in distribution with the basic economic system at the primary stage of socialism 16.2 Institutional Arrangement for the Participation of Production Factors in Distribution 16.2.1. Incentive mechanisms for the input of production factors 16.2.2. Getting rewarded according to contributions of production factors 16.2.3. Markets determine factor rewards 16.3 Implementation of the Socialist Distribution Principle under the Condition of Production Factors’ Participation in Distribution 16.3.1. The implementation of social equity and justice 16.3.2. The implementation of the principle of “from each according to his ability, to each according to his work” Bibliography Chapter 17 New Political Economic Issues in the New Era 17.1 The Relationship Between the Dominant Public Ownership and Mixed-Ownership 17.2 The Collaborative Relationship Between the Market and the Government 17.3 The Relationship Between a Distribution According to Work and a Distribution According to Contributions and Supply and Demand 17.4 The Relationship Between Demand Side and Supply Side Economics Chapter 18 The Major Innovations of Chinese Economic Development Theories in the New Era 18.1 The Change of Disciplinary Tasks from Guiding Economic Take-off to Guiding Modernization 18.2 Shift of Development Engine from Overseas Demand to Domestic Demand 18.3 The Adjustment of Pulling Forces from Investment Demand to Consumer Demand 18.4 Shift of Reform Focus from the Demand Side to the Supply Side 18.5 Change of Principles for Growth from Efficient Growth to Inclusive Growth 18.6 Change of Growth Path from Depending on the Investments of Material Resources to Being Driven by Innovation 18.7 Change of Development Strategy from Imbalance to Balance 18.8 Modernization of the Dual Structure: From Non-agricultural Support to Direct Target with Respect to the Development of Agriculture, Rural Areas, and Farmers 18.9 Change of China’s Status in Globalization: From Merging in with Comparative Advantages to Taking the Lead with Competitive Advantage Bibliography Chapter 19 Conclusion: Reflections on the Construction of Socialist Political Economy with Chinese Characteristics in the New Era 19.1 Major Developmental Issues in the New Era as Orientation 19.2 Putting People First as Disciplinary Nature 19.3 Principal Social Contradiction in the New Era as Main Line 19.4 New Vision of Development 19.5 Discourse System and Theoretical Resources Index