Search results

In the current literature, there is little systematic research on the relationship among adjustment of the income distribution, change in economic structure and improvement of macroeconomic efficiency.

This paper expands Marx's reproduction schema into the “Marx–Sraffa” three-department structure table comprising fixed capital, general means of production and means of consumption and employs China's input–output table from 1987 to 2015 to portray the relationship between income distribution and macroeconomic efficiency under investment-driven growth.

This paper calculates the wage–profit curve of China's economy and evaluates the space of macroeconomic efficiency improvement in China based on the deviation between actual and potential income distribution structure.

The results show that there is a downward trend of the profit rate, which meets Marx's theoretical prediction, and the decline in the profit rate is mainly attributed to an increase in the organic composition of capital arising from the rapid growth of fixed capital investment under extended growth. The analysis of macroeconomic efficiency shows that the space for improving macroeconomic efficiency is extremely limited under traditional growth pattern and that China must transform its economic development pattern and foster new economic growth drivers.

Different from Marx's analysis of the dialectical relationship between the production and realization of surplus value, the Okishio theorem only shows one aspect of the contradictory movement of the total social capital, that is, the reverse effect of the realization of surplus value on the production of surplus value.

The production of surplus value and the realization of surplus value are simplified into one process. This simplification eliminates the contradiction between the production and realization of surplus value, and the antagonistic contradiction between accumulation and consumption and the antagonistic production-distribution relationship in capitalist society are naturally covered up.

Therefore, it cannot explain the actual expansion way of the falling general rate of profit as the historical development law of capitalism. Nevertheless, it should be noted that the Okishio theorem places the analysis of the general rate of profit back into the social reproduction model with department equilibrium, which points out the significance of wage income to the realization of surplus value and outlines the macro mechanism of the realization of surplus value reacting to the production of surplus value. It also strongly promotes the research progress of the law that the profit rate tends to decline.

The mistake of the Okishio theorem is that the exchange process in the labor market forms the real wage rate. It determines the production price of wage goods, which thereby determines that the production price of capital goods and general rate of profit, the production of surplus value and realization of surplus value are simplified into the same process, and only the value that can be realized is the real value.

Agriculture and cultivation firms are facing severe competition in the saturated market. Due to the characteristics of heavy assets, low investment return, long cycle and high price fluctuation, agri-food firms require innovations for capital support. The purpose of this paper is to provide valuable insights on how firms in the food/agricultural industry approach innovations and reinforce their advantages through functional and structural innovations by adopting supply chain finance (SCF).

This research adopts a single-case study methodology to investigate the innovations and mechanisms taking place at H Corp Agriculture Group (H Corp hereafter), a Chinese egg company.

The findings of this paper indicate that SCF could have a great impact on supply chain management through functional and structural innovations throughout the supply chain and solve the capital constraint problems in the agricultural development process, promoting the implementation of the integration strategy as well as innovation in the agricultural industry chain. The research also shows that supply chain structural and functional innovations could promote corporate social responsibility (CSR) and creating shared value (CSV).

The research contributes to the application of SCF mechanisms and the realization of CSV and CSR jointly – both in the literature and in firms’ practices. It also contributes to the extension of structural and functional innovations and vertical integration of the supply chain. However, generalizability and universality are insufficient for a single case study in the specified industry. Data collection and quantitative analysis could be extended for further research.

The study addresses the need for comprehensive research on SCF and its applications. It proposes effective and efficient strategies for agri-food firms applying SCF to overcome industry capital constraints and develop competitiveness. It also provides a balanced and positive circulation between economic value and social value, realizing CSR and CSV.