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Article
Publication date: 22 December 2020

Great significance of innovative research on capital for building socialist political economics with Chinese characteristics

Haiping Qiu

General Secretary Xi Jinping pointed out that to uphold and develop socialist political economics with Chinese characteristics, the authors should be guided by Marxist…

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Abstract

Purpose

General Secretary Xi Jinping pointed out that to uphold and develop socialist political economics with Chinese characteristics, the authors should be guided by Marxist political economics.

Design/methodology/approach

It is an essential methodological principle for building a theoretical system of socialist political economics with Chinese characteristics as a “systematic economic theory”.

Findings

To implement this principle, the authors need to understand the rich connotation of Marxist political economics and its relationship with socialist political economics with Chinese characteristics fully and correctly and unswervingly uphold and inherit, creatively transform and innovatively develop the theoretical achievements of Marxist economics, especially capital.

Originality/value

It is also an essential and necessary way to build a theoretical system of socialist political economics with Chinese characteristics.

Details

China Political Economy, vol. 3 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/CPE-10-2020-0016
ISSN: 2516-1652

Keywords

  • Marxist economics
  • Marxist political economics
  • Capital
  • Socialist political economics with Chinese characteristics

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Article
Publication date: 2 December 2019

A reflection on borrowing from western economics

Fuqian Fang

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…

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Abstract

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.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/CPE-10-2019-0023
ISSN: 2516-1652

Keywords

  • Accommodation
  • Absorption
  • Beneficial elements
  • China political economy
  • Western economics

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Article
Publication date: 4 June 2018

Combining Marxism and China’s practices for the development of a socialist political economy with Chinese characteristics

Wei Liu

The socialist construction with Chinese characteristics must be based on history and reality. According to the requirements of liberation and development of productivity…

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Abstract

Purpose

The socialist construction with Chinese characteristics must be based on history and reality. According to the requirements of liberation and development of productivity, efforts must be made to reform and improve the production relations, as well as continually consolidate the socialist system with Chinese characteristics. The purpose of this paper is to prove the necessity and superiority of a socialist system through China’s modernization achievements.

Design/methodology/approach

Marxist political economics is a critical legacy from classical economics. Its core question is also social production and distribution, which is epitomized in the labor theory of value and the theory of surplus value.

Findings

Regarding the significant principles that must be followed, these speeches summarized the logical system and prominent features of the socialist political system in the new normal from several significant and interrelated aspects such as basic methods, core propositions, main tasks and fundamental goals.

Originality/value

The socialist system with Chinese characteristics will gradually appear through further research and prove its superiority. How can a socialist system with Chinese characteristics innovate and develop? Does the system have a future? Is there any historical necessity for the socialist system to replace the capitalist system in human history? These are the questions that need urgent answers and in-depth exploration.

Details

China Political Economy, vol. 1 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/CPE-09-2018-001
ISSN: 2516-1652

Keywords

  • Political economy
  • Socialism with Chinese characteristics

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Article
Publication date: 4 June 2018

Nationality and internationality of the Socialist Political Economy with Chinese Characteristics

Jinju Pang

As the crystallization of Chinese wisdom and the shared wealth of all humanity, the Socialist Political Economy with Chinese Characteristics (SPECC) not only reveals the…

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Abstract

Purpose

As the crystallization of Chinese wisdom and the shared wealth of all humanity, the Socialist Political Economy with Chinese Characteristics (SPECC) not only reveals the specific traits of SPECC but also indicates the general rules of the global economic development, showing both nationality and internationality. The paper aims to discuss this issue.

Design/methodology/approach

Being aware of the nationality of the SPECC is of great importance. It requires to integrate the basic Marxist principles with the realities of China, and meanwhile draw lessons from, not just simply copy, the strengths of other countries. The authors must adhere to the basic principles of the SPECC.

Findings

From the perspective of past practices, the SPECC has not only provided theoretical guidance for China’s reform and development, but has also given references to some countries, especially developing countries under reform and transition.

Originality/value

SPECC should be based on China’s conditions and practices, absorb China’s traditional cultural essences, draw lessons from other nations’ positive theoretical and practical results, propose theoretical viewpoints independently and initially, and construct a distinct academic system and discourse system. In this way, China would work to develop the characteristics and advantages of the SPECC, and contribute Chinese wisdom to the development and improvement of world economics and economics theories.

Details

China Political Economy, vol. 1 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/CPE-09-2018-003
ISSN: 2516-1652

Keywords

  • Nationality
  • Internationality
  • Socialist Political Economy with Chinese Characteristics (SPECC)
  • Innovation and development

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Article
Publication date: 4 June 2018

The principal contradiction and its evolution in the new era of the socialism society with Chinese characteristics: From the perspective of the Marxist political economy methodology

Xinghua Wei

Marx suggested that it is infeasible and wrong to arrange the economic categories according to the order by which they have worked in history. Their order is determined by…

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Abstract

Purpose

Marx suggested that it is infeasible and wrong to arrange the economic categories according to the order by which they have worked in history. Their order is determined by their interrelationship in the modern bourgeois society, which is in contrast to their natural sequence or that which is in accordance with the course of history. Sometimes, a logical sequence is precisely opposite to the historical sequence. There are many efforts to be done in the study of China’s economic and social issues with Marxist logical and historical methods. The paper aims to discuss these issues.

Design/methodology/approach

When reading Das Kapital, we can clearly see the historical materialism methods. Another method of Marxist political economics is the scientific abstract method.

Findings

This is based on the new development idea to carry out scientific and technological innovation and change the focus of development from quantity to quality. With regard to the supply side structural reform as the main focus, people’s ever-growing demand for a better life can be satisfied and the higher level dynamic supply–demand balance can be kept.

Originality/value

In fact, measures to remedy unbalanced and inadequate development of the social principal contradiction have been plainly indicated in the report delivered at the 19th National Congress of the Communist Party of China. This is based on the new development idea to carry out scientific and technological innovation and change the focus of development from quantity to quality.

Details

China Political Economy, vol. 1 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/CPE-09-2018-008
ISSN: 2516-1652

Keywords

  • Political economy
  • Historical materialism
  • The new era of socialism with Chinese characteristics
  • The principal social contradiction

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Article
Publication date: 2 December 2019

Retrospect and prospect: development of China’s economics in the past 70 years

Jinchuan Shi and Ye Jianliang

In the past 70 years since the founding of the People’s Republic of China, China’s economic studies have been constantly centered on major issues such as national…

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Abstract

Purpose

In the past 70 years since the founding of the People’s Republic of China, China’s economic studies have been constantly centered on major issues such as national modernization, social economic development and the establishment, reform and improvement of socialist economic system. The paper aims to discuss this issue.

Design/methodology/approach

It has experienced a process of transition from the establishment of traditional Soviet’s paradigm of political economics to that of modern economics, during which drastic changes have been observed in various aspects of China’s economics, including research content, scope and methods.

Findings

Based on that, a discipline system of economics in line with international economics has been initially established. Currently, under the guidance of Marxism, scholars in China’s economics actively draw on the beneficial knowledge system and analytical methods from modern economics, emancipate their minds, seek truth from facts and constantly fortify confidence in the socialist path, theory, system and culture, continuously enhance the discourse power of China’s economics in global economic governance system, so as to push forward to the building of a theoretical system of socialist economics with Chinese Characteristics in the new era.

Originality/value

Economics is a discipline that studies resource allocation and human’s behavior of making a choice based on rationality. Emerged in the industrial revolution and developed in the exploration of a large-scale socialized mode of production and resource allocation system, this discipline has gradually become a broadly explanatory force in social sciences which profoundly affects the economic decision-making behaviors of the government and various economic entities.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/CPE-10-2019-0020
ISSN: 2516-1652

Keywords

  • Research paradigm
  • China’s economics
  • Theoretical system

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Article
Publication date: 3 December 2018

Economic Zeitgeist in Xi Jinping

Gu Hailiang

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…

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Abstract

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.

Details

China Political Economy, vol. 1 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/CPE-10-2018-015
ISSN: 2516-1652

Keywords

  • Systematic economic theory
  • The “second coupling”
  • Liberation and development of productive forces
  • The new development concept

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Article
Publication date: 4 June 2018

Economic theory innovation and China’s development practice

Taiyan Huang

The purpose of this paper is to promote the theoretical innovation of socialist economics with Chinese characteristics in these areas.

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Abstract

Purpose

The purpose of this paper is to promote the theoretical innovation of socialist economics with Chinese characteristics in these areas.

Design/methodology/approach

We must “excavate new materials, discover new problems, propose new ideas, and construct new theories from the practice of China’s reform and development.”

Findings

Giving full play to the government’s role in realizing optimal allocation of resources required for the public economy to better exert its control, influence and guidance, and at least assume the following three responsibilities. The first is to iron out the economic cycle. The second is to lead the industry to upgrade. The third is to ensure national economic security.

Originality/value

Some deep-rooted issues still need to be further studied in order to establish the scientific and practical nature of the socialist economics with Chinese characteristics. For instance, why is the theory of a socialist economy with Chinese characteristics summarized from the development practice in China a scientific theory?

Details

China Political Economy, vol. 1 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/CPE-09-2018-004
ISSN: 2516-1652

Keywords

  • Economic theory
  • System of socialism with Chinese characteristics
  • New practice
  • New theory
  • New system
  • Theoretical value

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Article
Publication date: 24 July 2019

Analysis of the innovation and development of the socialist market economy theory

Jiayong Hu

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…

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Abstract

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.

Details

China Political Economy, vol. 2 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/CPE-04-2019-0006
ISSN: 2516-1652

Keywords

  • Development of main theoretical principles
  • Political economy of socialism with Chinese characteristics
  • Socialist market economy theory

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Article
Publication date: 21 July 2020

Political economy analysis of the properties of doctors' labour and medicines

Fengyi Liu and Shenghui Chen

Doctors' labour and medicines are special necessities for human survival and evolution. Since China launched the healthcare reform, the theoretical circles' discussions…

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Abstract

Purpose

Doctors' labour and medicines are special necessities for human survival and evolution. Since China launched the healthcare reform, the theoretical circles' discussions have not yet clarified the respective special properties of doctors' labour and medicines as goods and the internal relations between doctors' labour and medicines at the level of the theoretical basis.

Design/methodology/approach

Health is a prerequisite for people's all-round development, a precondition for economic and social development and the people's common aspiration. The all-round moderately prosperous society could not be achieved without people's all-round health.

Findings

The authors believe the socialist relation between doctors' labour and medicines with Chinese characteristics should be one that is people-oriented, and the corporatization of hospitals or the capitalization of doctors' labour should be avoided.

Originality/value

In this paper, the authors explore the particularity of doctors' labour, particularity of medicine production, circulation, consumption and the internal relations between doctors' labour and medicines by using the analytical approach of Marxist political economy while considering the special roles of doctor's labour and medicines in the reproduction of labour power and put forward the theoretical basis for the segregation of doctor's labour and medicines.

Details

China Political Economy, vol. 3 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/CPE-05-2020-0003
ISSN: 2516-1652

Keywords

  • Doctors' labor
  • Medicines
  • Corporatization of hospitals
  • Capitalization of doctors' labour

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