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As there are different interpretations of the object of study in the preface to the first edition of Capital (Volume I) by Karl Marx, disagreements arise over the object of study on political economy, which becomes a “difficult problem.” The purpose of the paper is to bring a new solution to the “difficult problem.”

Based on the analysis of the logic of the original text, the authors attempted to give a new interpretation of the “difficult problem” by analyzing the structure of Capital. The object of study of political economy is “the relations of production in the broad sense” of the capitalist mode of production.

It comprises relations of production in the narrow sense and exchange relations in the broad sense, and the latter can be divided into exchange relations in the narrow sense and distribution relations. The three of them correspond to Volume I, II and III of Capital, respectively. Consumption in “the four-section theory” is not studied by the political economy.

And the four-section theory is not a part of the theory of Marxist economics but a part of the classical economics criticized by Marx. Therefore, the object of study of socialist political economy with Chinese characteristics is “the relations of production in the broad sense” regarding the socialist mode of production with Chinese characteristics, which is different from the capitalist relations of production in the broad sense.

The purpose of this second part of this special issue is to contribute to a better understanding of the nature of Soviet society. It is not possible to analyse such a society in all its complexities within the space of one study. There are, however, some economic relations which determine society's major features. We believe that commodity‐production relations in the Soviet Union are of this type.

Extensions/applications/revisions of the Marxian vision of socialism can broadly be categorized into two polar strands: the centralized and the decentralized strands of socialist economic systems. Explores the main postulates of a decentralized version of a socialist economic system as provided by Kautsky, Luxembourg, Bernstein, Bukharin and Lange. The centralized strand of socialist economic systems has been elaborated drawing mainly from the writings of Lenin, Trotsky, Dobb, Sweezy and Baran.

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.

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

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.

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

It 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.

This 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.

Additionally, 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.

With 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.

The fate of a country like the Soviet Union concerns not only its leaders and its population. Whatever happens to the Soviet system, the directions which that nation follows will affect the whole world. Therefore, an understanding of the Soviet regime, its limitations and potentials, and the options available to that country, would give the rest of the world the intellectual weapon necessary to meet challenges presented by Soviet development. The stakes may be very high; if the full productive capacity of the Soviet Union were developed, the Japanese economic miracle and the serious problems it has created for the United States might fade into relative insignificance.

Homeostatics is a new science, which, it is considered, advances at a rate which may supersede cybernetics. It reveals the informational laws that govern the living matter and projects them on to all systems. Homeostasis (Gk: homoios – “similar” and stasis – “state” or “standing”) can be represented as a dynamic maintenance of assigned values, parameters, functions and trends of development (decay).

Considers the question of how the works of Roscher were regarded in the German Democratic Republic (GDR). Although Roscher′s works were neither received nor accepted in the GDR, nevertheless, people there did occupy themselves with his ideas. Deals with three questions: what was the result of this occupation with Roscher′s ideas? What was the basisof it? What were the characteristics relevant to history of the treatment Roscher received in the GDR?

Describes how homeostatic models can be applied to modelling the normal processes, as well as the critical phenomena, such as paralysis, shock or collapse, which work in the polarised world. Discusses the development of civilisation against a background of the fight for resources, territories, spheres of influence, as well as the war between the technologies, behind which are the people. This produces an ultimately bad effect upon the ecology. Thus, unless the human race does not think better of it and changes the prevailing paradigm in relation to the nature and to the people themselves, a bitter pay‐off – the global ecological catastrophe – is due. Outlines a created simulating model of the community, which shows that a global ecological catastrophe is likely to occur between 2020 and 2050. This time frame represents a zone of bifurcation, which, it is said, may result in either the death of civilisation, or an excruciating process of rebirth, which would also involve a transition to the new information technologies (based on the principles of the plasma, vacuum, or torsion fields, and so forth). In order to avert the global ecological catastrophe, suggests that it is necessary to accept the noospheric thinking code and, among other changes the organisational structure of the United Nations Organization (UNO), and the relationships between countries.