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Open Access
Article
Publication date: 13 December 2019

Guogang Wang

Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. The purpose of this paper is to…

24374

Abstract

Purpose

Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. The purpose of this paper is to summarize the main content of Marx’s monetary theory from three aspects: the source and nature of money, the function of money and the historical significance of money.

Design/methodology/approach

Moreover, this paper also gives an extended understanding of Marx’s monetary theory from four perspectives: the endogenous credit mechanism of money, the functions of money and demands for money, the financial function of money and the economic and social functions of money.

Findings

Lastly, the present paper discusses the practical significance of Marx’s monetary theory from three perspectives, namely, the inspection of “Bitcoin” from the nature and function of money, the definition of demands and the division of supplies at the monetary level, and the prevention of systemic financial risks and the focus of financial supervision.

Originality/value

Marx’s monetary theory is an important part of Marxist economics and an irreplaceable milestone in the intellectual history of the monetary theory. However, for a long time, the contribution of Marx has rarely been mentioned in the intellectual history of monetary theory. Even the book, Political Economy (On Capitalism), has been only summarily concerned with the source and function of money in Marx’s monetary theory, rather than revealing Marx’s outstanding contribution in the monetary theory and the financial connotation of Marx’s monetary theory, and expounding its practical significance.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 7 November 2018

Yu Zhang

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…

2731

Abstract

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.

Details

China Political Economy, vol. 1 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 3 October 2023

Patricia Frericks

The family is one of the foundations of society; its significance for societal redistribution in modern societies, though, remains particularly unclear. A major reason for this is…

Abstract

Purpose

The family is one of the foundations of society; its significance for societal redistribution in modern societies, though, remains particularly unclear. A major reason for this is that theoretical approaches to societal redistribution have not adequately included family either in social philosophy or in welfare state theory. As a consequence, also empirical analyses of differences and developments in societal redistribution have not included family or only in as far as family is affected by other redistributive principles. This paper contributes to filling this theoretical gap.

Design/methodology/approach

This paper theorises family as a redistributive principle. With reference to the major theoretical concepts of redistribution, it identifies the relevant dimensions of family in societal redistribution and develops a typology of its inclusion in societal redistribution.

Findings

Approaches to redistribution are shaped by distinct concepts of equal or unequal exchange, the relevant actors they identify and by different understandings of the economy. These distinctions are central to understanding the position of family in societal redistribution. With reference to the major theoretical concepts of redistribution, this paper identifies the relevant dimensions of family in societal redistribution and develops a typology of its inclusion in societal redistribution. Further investigations might draw on this typology and detect the theoretical foundations of its conceptualisations and its similarities to and deviations from the developed types.

Originality/value

This paper provides a theoretical groundwork for theoretical and empirical investigations of societal redistribution and for better comprehending its international variation. It aims to initiate a fundamental rethinking of the usual understanding of societal redistribution that widely ignores family as a redistributive principle of its own.

Details

International Journal of Sociology and Social Policy, vol. 43 no. 13/14
Type: Research Article
ISSN: 0144-333X

Keywords

Open Access
Article
Publication date: 13 December 2019

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…

3814

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
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 1 September 2013

John E. Berg and Jorid Grimeland

Hospitals are labor intensive facilities based on highly skilled employees. A merger of hospitals is an effort to increase and rationalize this production. Decisions behind a…

Abstract

Hospitals are labor intensive facilities based on highly skilled employees. A merger of hospitals is an effort to increase and rationalize this production. Decisions behind a merger are made at the top leadership level. How this might be done is demonstrated by examples from a 36 bed acute psychiatric facility. The aim of the study was to calculate the hidden costs of fragmented destruction of parts of a total hospital supply to patients after a merger. Fragmented destruction is the deliberate stopping of activities deemed not part of the core activities of the hospital without due consideration of the impact on core activities. The proposed changes to operational expenses at a single acute psychiatric hospital were materials for the study. The changes included activities as a reduction in local laboratory service, cleaning services, closure of physiotherapy unit, closing of cultural activities and reduced productivity. The selected activities are calculated as giving an imputed gain of € 630,000 as indicated by the leadership. The not calculated costs of reducing or removing the selected activities are estimated at € 1,955,640. The cost of staff disappointment after a merger is difficult to assess, but is probably higher than assumed in the present calculations.

Imputed cost containment is not attained. The calculations indicate that implemented changes may increase cost, contrary to the belief of the leadership at both the hospital level and further up in the hospital trust.

Arguments in favor of a merger have to be scrutinized thoroughly for optimistic neglect of uncalculated costs of mergers. Future hospital mergers and selected fragmentation of productive tasks at ward or hospital levels should include calculations of unavoidable costs as shown in the present paper.

Details

Mental Illness, vol. 5 no. 2
Type: Research Article
ISSN: 2036-7465

Keywords

Open Access
Article
Publication date: 6 September 2022

Reijo Savolainen

The purpose of this paper is to elaborate the nature of everyday life as a context of information behaviour by examining how researchers have approached this issue. To this end…

2698

Abstract

Purpose

The purpose of this paper is to elaborate the nature of everyday life as a context of information behaviour by examining how researchers have approached this issue. To this end, particular attention is directed to how they have characterized everyday life as a constellation of work-related and non-work constituents.

Design/methodology/approach

Evolutionary concept analysis was conducted by focussing on 40 studies on the topic. It is examined how the conceptualizations of everyday life and the relationships between work-related and non-work constituents have been evolved since the 1990s. The analysis is based on the comparison of the similarities and differences between the characterizations of the above constituents.

Findings

Early conceptualizations of everyday life as a context of information behaviour were largely based on Savolainen's model for everyday life information seeking. Later studies have proposed a more holistic approach to everyday life in times when the boundaries between work-related and free-time activities have become blurred, due to the growing use of networked information technologies and telecommuting. Since the late 1990s, the understanding about the nature of everyday life as a context of information behaviour has become more nuanced; thanks to a more detailed identification of the overlaps of work-related and non-work constituents.

Research limitations/implications

As the study is based on a sample of studies examining the relationships of work-related and non-work constituents, the findings cannot be generalized to concern the contextual nature of everyday life as a whole.

Originality/value

The study pioneers by offering an in-depth analysis of the nature of everyday life as a context of information behaviour.

Details

Aslib Journal of Information Management, vol. 75 no. 5
Type: Research Article
ISSN: 2050-3806

Keywords

Open Access
Article
Publication date: 11 April 2023

Christopher Mackin

The field of broad-based employee ownership within corporations is a specific application of the foundational topic of property ownership. It is situated at the intersection of a…

2193

Abstract

Purpose

The field of broad-based employee ownership within corporations is a specific application of the foundational topic of property ownership. It is situated at the intersection of a broad range of scholarly disciplines including economics, law, finance and management. Each discipline contributes vocabulary and distinctions describing this field. That broad spectrum of disciplinary inquiry is a strength but it also lends a “ships passing in the night” quality to discussions of employee ownership. This paper attempts to unravel the narrative diversity surrounding this topic. Four meanings of ownership are introduced. Those meanings are in turn embedded within two abstract models of the corporation; the corporation as property and the corporation as social institution.

Design/methodology/approach

There is no experimental design The paper presents a conceptual overview and introduces a taxonomy of four meanings and two models of ownership.

Findings

Four meanings of ownership are introduced. The meanings are ownership as compensation, investment, retirement and membership. Those meanings are in turn embedded within two abstract models of the corporation; the corporation as property and the corporation as social institution.

Research limitations/implications

No hypotheses are advanced. This is not a research paper. A conceptual overview that makes use of taxonomy of meanings and models is introduced to help clarify confusions abundant in the field of employee ownership. Readers may differ with the categories of meanings and models introduced in this conceptual overview.

Practical implications

The ambition of the paper is to describe the various meanings and models of employee ownership presently in use in both academic and applied settings. It is not necessary or desirable to assert the primacy of a single meaning or model in order to achieve progress. The analysis provided here surfaces a range of assumptions about ownership that have heretofore been implicit in both scholarship and in practice. Making those assumptions explicit should prove useful to both scholars and practitioners of employee ownership.

Social implications

The concept of employee ownership enjoys a relatively broad appeal with the public. Among the academic disciplines that have trained their lights upon it, a more mixed reception prevails. Much of the academic and policy controversy derives from confusion about the nature and structure of employee ownership. This paper attempts to address that confusion by presenting a taxonomy of meanings and models that may prove useful for future research.

Originality/value

This study is one of the first efforts to comprehinsively map the various meanings and models of broad-based employee ownership.

Details

Journal of Participation and Employee Ownership, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-7641

Keywords

Open Access
Article
Publication date: 22 December 2020

Yinxing Hong

The socialist political economy with Chinese characteristics reflects the characteristics of ushering into a new era, and the research object thereof shifts to productive forces…

3993

Abstract

Purpose

The 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/approach

The 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.

Findings

The 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/value

Accordingly, 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.

Details

China Political Economy, vol. 3 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 31 March 2023

Ben Hur Francisco Cardoso and Dominik Hartmann

A growing body of literature shows how intragenerational occupational mobility affects economic dynamics and social stratification. In this article the authors aim to carry out a…

Abstract

Purpose

A growing body of literature shows how intragenerational occupational mobility affects economic dynamics and social stratification. In this article the authors aim to carry out a structured review of this literature, outlining a systemic overview for more comprehensive research and public policies.

Design/methodology/approach

The authors use methods from structured literature reviews and network science to reveal the segmented research landscape of occupational mobility literature. The authors made an in-depth analysis of the most important papers to summarize the main contributions of the literature and identify research gaps.

Findings

The authors reveal a segmented research landscape around three communities: (1) human capital theory, (2) social stratification theory and (3) migration studies. Human capital research uses microfounded mathematical modeling to understand the relationship between skills and mobility. Nevertheless, it cannot explain social segregation and generally does not focus on the importance of local labor demand. Social stratification research can explain the social and institutional barriers to occupational mobility. Migration research studies the relationship between migration, labor demand and social mobility.

Originality/value

This paper is the first literature review that uses network analysis to perform a systematic review of the intragenerational occupational mobility literature. Moreover, this review identifies opportunities for mutual learning and research gaps in the research landscape.

Details

EconomiA, vol. 24 no. 1
Type: Research Article
ISSN: 1517-7580

Keywords

Open Access
Article
Publication date: 1 April 2024

Ying Miao, Yue Shi and Hao Jing

This study investigates the relationships among digital transformation, technological innovation, industry–university–research collaborations and labor income share in…

Abstract

Purpose

This study investigates the relationships among digital transformation, technological innovation, industry–university–research collaborations and labor income share in manufacturing firms.

Design/methodology/approach

The relationships are tested using an empirical method, constructing regression models, by collecting 1,240 manufacturing firms and 9,029 items listed on the A-share market in China from 2013 to 2020.

Findings

The results indicate that digital transformation has a positive effect on manufacturing companies’ labor income share. Technological innovation can mediate the effect of digital transformation on labor income share. Industry–university–research cooperation can positively moderate the promotion effect of digital transformation on labor income share but cannot moderate the mediating effect of technological innovation. Heterogeneity analysis also found that firms without service-based transformation and nonstate-owned firms are better able to increase their labor income share through digital transformation.

Originality/value

This study provides a new path to increase the labor income share of enterprises to achieve common prosperity, which is important for manufacturing enterprises to better transform and upgrade to achieve high-quality development.

1 – 10 of over 1000