scholarly journals Exploring the sinicization of Marx's social capital reproduction theory: review and reflection

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xian Zhang
Keyword(s):  
Social Capital ◽  
Economic System ◽  
Practical Significance ◽  
Regulation System ◽  
Light Industry ◽  
Content Type ◽  
Chinese Characteristics ◽  
Market Economic ◽  
Reform And Opening Up ◽  
Socialist Market

PurposeKarl Marx's social capital reproduction theory is his significant contribution to economics. The purpose of this paper is to review the contributions of the exploration of Chinese economists (especially Professor Liu Guoguang) in the concretization of Marx’s social capital reproduction theory combined with socialist construction since 1949.Design/methodology/approachDuring this process, Professor Liu Guoguang, a famous Chinese Marxist economist, has made an outstanding contribution by creating a Marxist social capital reproduction model with Chinese characteristics and a distinctive Marxist economic growth model. Professor Liu's exploration is still of crucial practical significance to building a socialist market economy today.FindingsThe process and achievements in the sinicization exploration of Marx's social capital reproduction theory were reviewed. With the reform and opening up, fundamental changes have occurred in China's economic system – the centralized planned economic system has been transformed into a socialist market economic system.Originality/valueThe planned management of the national economy is replaced by a macro-regulation system characterized by gross control gradually, and the concepts of agriculture, light industry, and heavy industry, and their intercorrelation are no longer applied in theory and policy. However, the sinicization exploration of Marx's social capital reproduction theory in the older generation of Marxist economists represented by Liu is not only of historical significance but also of important practical significance.

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 Building a modern economic system: basic framework, key issues, and theoretical innovation

2019 ◽  
Vol 2 (1) ◽  
pp. 73-84
Author(s):  
Zhibiao Liu
Keyword(s):  
Economic System ◽  
Developing Economies ◽  
Industrial System ◽  
Real Economy ◽  
Market Mechanisms ◽  
Content Type ◽  
Chinese Characteristics ◽  
Theoretical Innovation ◽  
Key Issues ◽  
Modern Economic

Purpose The construction of a modern economic system is a symbolic and strategic choice for large developing economies on the path toward high-quality economic development. The paper aims to discuss this issue. Design/methodology/approach The overall framework aims to adhere to “One Policy and One Mainline” to build an innovation-driven, synergistic industrial system and a “with three-qualities” economic system (with efficient market mechanisms, energetic micro-agents and appropriate macroeconomic regulation). Findings The strengthening of the real economy and construction of a modern industrial system constitute the material basis for supporting this system and framework. As major decision making and theoretical innovation in empirical practice, building a modern economic system can also contribute substantially toward developing the applied economic theory of socialism with Chinese characteristics. Originality/value Building a modern economic system in China necessitates, without exception, the construction of various subsystems encompassing industrial, market, distribution, regional development, green development, open and economic institutional aspects.

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 An answer from Marxist economics to Weber's hypothesis about China: a concurrent discussion of the direction of rural reform in China

2020 ◽  
Vol 3 (1) ◽  
pp. 161-173
Author(s):  
Jiguo Yang
Keyword(s):  
Rural Economy ◽  
Business Models ◽  
Practical Significance ◽  
Theoretical Problem ◽  
Local Conditions ◽  
Content Type ◽  
New Era ◽  
Rural Industrialization ◽  
Chinese Characteristics ◽  
Full Sense

PurposeWeber's hypothesis about China is the hypothesis forwarded by Weber that why capitalist production did not appear in eastern countries such as China in the first place. Weber considered that the reason may be Chinese Confucianism and Taoism lack protestant ethic like Western countries.Design/methodology/approachThe clarification has aroused wide discussion, meanwhile, East Asian capitalism belonging to the Chinese cultural circle has successfully refuted Weber's proposition. Chinese scholars have a broad debate around this topic while no agreement has been reached. This paper tries to explain Weber's hypothesis by Marx's theory of capital origin, which can be explained that the landlord economy caused by China's federal society under centralism leads to the result that the commodity of labor cannot exist in that environment.FindingsThe answer from Marxist economics has not only solved an enormous theoretical problem, but also it has vital practical significance. It easily clarifies the fact that the commodity of labor in full sense still cannot emerge in China nowadays, which is an important reason causing China to enter the New Normal and New Era.Originality/valueTherefore, it leaves China the only way of the socialist road with Chinese characteristics and revitalizing China's rural economy, which means China can only promote rural industrialization and urbanization under the principle of adhering to rural collective ownership, while implementing various forms of integrated agricultural and industrial business models based on local conditions.

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 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.

Cross-cultural competence and social capital dynamic process in cross-border M&A, a theoretical framework based on a multi-case study

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zhouyang Gu ◽  
Fanchen Meng
Keyword(s):  
Social Capital ◽  
Cultural Competence ◽  
Dynamic Process ◽  
Cultural Context ◽  
Transformation Process ◽  
Cross Cultural ◽  
Practical Significance ◽  
Content Type ◽  
Cross Border ◽  
The Social

Purpose In the process of cross-border mergers and acquisitions (M&A), the social capital of enterprises is dynamic. In this context, cross-cultural competence plays an important role and can affect the transformation process of social capital and further influence the realisation of M&A performance. However, there is still not enough research on the process of social capital transformation and corporate cross-cultural competence. This study aims to explore the influence mechanism of social capital and the cross-cultural competence of enterprises. Design/methodology/approach In this paper, four typical manufacturing M&A case studies were analysed and a grounded theoretical analysis process was used to explore the structure of cross-cultural competence and its impact on the dynamic process of social capital. Findings The results of this study imply that social capital experiences three stages of transformation in the process of M&A. There are also four dimensions of corporate cross-cultural competence, which are composed of various factors. These all affect the dynamic process of social capital through different influence mechanisms. Originality/value According to the results, a mechanism model was composed to determine how corporate cross-cultural ability affects the social capital process. This is of practical significance as it can enhance the performance of M&A integration in a cross-cultural context.

scholarly journals Economic analysis of China’s marketization process over four decades and the construction of the Chinese model and Economics with Chinese Studies

2019 ◽  
Vol 2 (1) ◽  
pp. 40-52
Author(s):  
Ruilong Yang
Keyword(s):  
Institutional Change ◽  
Economic System ◽  
Decisive Role ◽  
Market Mechanism ◽  
Content Type ◽  
Change Models ◽  
Chinese Model ◽  
Chinese Studies ◽  
Market Economic ◽  
Development Of Economic Theory

Purpose Over the past four decades, China has strived to make the market mechanism play a decisive role in resource allocation under the conditions of adhering to the basic socialist economic system. The paper aims to discuss this issue. Design/methodology/approach On this matter, this paper proposes a three-phase transition hypothesis for the Chinese institutional change models, namely, a de facto path, which gives potential to a successful incremental transition of a centralized country from planned economy to a market economy, lies in the incremental transitions of the institutional change models from a supply-oriented model at initial reform to a middle-proliferation model and to a demand-induced model along with the gradual establishment of exclusive property rights, thereby completing the transition to a socialist-market-economic system. Findings The Chinese economic model’s unique connotation is the reason why the solution to this model often baffles both the traditional political-economic logic and western mainstream institutional change theory. Originality/value This hypothesis corroborates that China’s unswerving practice of economic reform has provided unprecedented opportunities and challenges for the development of economic theory. The Chinese model constitutes the source of innovation for the subject of Economics with Chinese Studies.

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