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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.

There exist long-term fluctuations in the process of capital accumulation. The economic long wave is an essential part of research into non-mainstream western economics. After the Second World War, the capitalist world experienced the fourth long wave of expansion and then entered into a downward phase of the long wave in the 1970s. Regarding to whether a new long wave of expansion took place in the 1980s, left-wing scholars hold different viewpoints. The purpose of this paper is to focus on this issue.

First, based on the review of the long wave history, this paper discusses three kinds of long wave theories with significant influence and puts forward the theoretical framework of analyzing the long wave of capitalist economy. Next, under the guidance of this theoretical framework and in combination with the actual development and evolution of the capitalist economy, the issue of whether the fifth long wave of the capitalist economy began to emerge in the 1980s is discussed deeply.

This paper argues that, from the early 1980s to 2007, the US-dominated developed countries experienced a new long wave of expansion driven by the information technology revolution, the adjustment of the neoliberalism system and the economic globalization. However, the financial-economic crisis of 2008–2009 led to a new phase of long wave downswing.

This paper does not agree with the single-factor analysis of the intrinsic formation mechanism of economic long wave and sticks to the multi-factor analysis centering on the fluctuation of accumulation rate. It is pointed out that the evolution of the long wave of capitalist economy depends on the combined influence of technology, institutions and market. The study of the long wave of the economy will help us to correctly understand the historical stage and characteristics of the current world capitalist economy in the long-term fluctuations, so that we can make an appropriate and positive response.

Wang has focused on the relationship between Das Kapital and the political economy in the broad sense. Numerous ideas covering the political economy in the broad sense are involved in the overall structure of Das Kapital, methodology of historical materialism and analyses of the historical fate of capitalist system. The paper aims to discuss these issues.

In broad outline, the Asiatic, ancient, feudal and modern bourgeois modes of production may be designated as epochs, marking progress in the economic development of society (Wang, 2007b). Historical materialism provides a new, scientific and objective explanation for understanding the dialectical development laws of society. It is crucial for constructing the theoretical system of a political economy in the broad sense. It could be said that it is the key to solving the puzzle of the historical course of social development.

Today, economic relations between the world’s top two economies have merged with each other. How can two countries with different systems trade with each other so well? These questions can no longer be answered with traditionally narrow political economic theory. The authors have to seek these answers from the perspective of a political economy in the broad sense.

Numerous ideas covering the political economy in the broad sense are involved in the overall structure of Das Kapital, methodology of historical materialism, and analyses of the historical fate of capitalist system.

The purpose of this paper is to explain why Vietnam has been charged as a currency manipulator by the USA, and why those charges are less than conclusive, as of May 2021, no immediate tariffs were imposed.

A comparative approach is applied using economic data on trade balances, inflation, exchange rates, and foreign exchange reserves from Vietnam, other Asian nations, and the USA. Currency regime theories are briefly reviewed, and USA. Treasury statements about Vietnam’s currency are referred to, which then are analyzed. Further explanations are based on the context of the economic situation and bilateral relations.

Since 2010, Vietnam’s currency has appreciated, and since 2015, the government has kept the Vietnamese dong (VND) stable in real terms against the dollar. The sharp improvement in Vietnam’s bilateral and overall trade balance is due largely to rising labor costs in China and trade frictions between the USA and China. The resulting US tariffs on China’s exports redirected Foreign Direct Investment (FDI) exports to Vietnam. Even with these recent trade surpluses, Vietnam’s ratio of foreign exchange reserves to imports is lower than that of many other Asian nations. The USA’s recent decision not to impose punitive tariffs on Vietnam’s exports but continue to monitor and hold discussions reflects the reduced priority the new US administration puts on bilateral trade balances and the recognition that Vietnam is negotiating seriously and has significant value in a regional context.

The paper provides a comprehensive understanding from both theoretical and practical perspectives of the recent event. The implications are meaningful for the adjustment of national monetary strategy to avoid a similar situation in the future.

As a crucial institutional form established since the Chinese economic reform, the system of competitive local governments has been shaping the characteristics of China's socialist market economy to a considerable degree.

This study not only adopts the view of existing studies that attribute the economic motive of local governments to rent and consider land public finance as a means through which local governments carry out strategic investment but also attempts to further develop the view within a Marxist analytical framework.

As a result, the local governments have helped to maintain an incredibly high investment rate over a considerable period of time, facilitating the continuous, rapid growth of the Chinese economy.

This study concludes that China's local governments function as the productive allocator and user of rent in the strategic investment based on land public finance and thereby embed themselves in the relative surplus-value production initially arising from competition amongst enterprises, forming the dual structure of relative surplus-value production unique to China's economy.

In the shipping industry, both sales and purchases of second-hand ships and freight transport services are prevalently tailormade and traded with intense bilateral negotiations. Price bargaining is the key step of this negotiation process and plays a crucial role in determining mutually agreed prices. Despite its cruciality and applicability, the price bargaining has yet received due conceptual and/or theoretical attention in the shipping literature. This paper attempts to conceptually examine the role of bargaining in shipping transaction prices and subsequently puts forward directions for future research. In doing so, the paper focuses on two types of transactions taking place in shipping markets: asset market trading of second-hand vessels and service market trading shipping freights.

The paper begins with a systematic literature review of price bargaining in the field of economics and management disciplines from a game-theoretic perspective. This approach does logically lead to the establishment of a conceptual framework for price bargaining in shipping sub-markets as a step toward having taken into consideration a variety of heterogeneities commonly present in trading activities and market dynamics.

A set of research areas has been consequently identified where price bargaining and mechanisms for the shipping freight and asset markets could be further explored and analyzed in a way to make better pricing decisions under a more tangible framework.

One of the critical challenges when using bargaining mechanisms to make a decision on pricing shipping services and assets is how to operationalize the study for empirical investigation as some of the factors are internal information of the players and are not adequately revealed to externals: that is, an imperfect information sharing case. The current study aims, however, not to conduct an empirical analysis but to initiate a conversation among maritime economists by bringing their attention to this not-yet fully explored and potentially impactful field of research and by asking them to treat bargaining from a perspective for pricing shipping assets and services. It is claimed that, by doing so, one could better understand price differences between individual contracts.

This study would be considered the first of its kind to provide a detailed survey of the bargaining theory and models from a game theoretical perspective as a theoretical lens to understand its importance and relevance in pricing shipping assets and services. It also provides a simplified operational case on utilizing bargaining in practically pricing freight services.