On the Analytical Paradigm of Marxist Economics

Author: Zhang Yu
Publisher:
Publish Date: 2005-04-01
Features: This book attempts to reflect on and explore some fundamental issues of Marxist political economy (such as what the essence of Marxist political economy is, and what theoretical and practical significance Marxism as a theoretical paradigm holds). This reflection and discussion are carried out along two different lines: One line takes the materialist conception of history as its core, elaborating on the object, methods, and theoretical logic of Marxist economics from the interaction between productive forces and production relations. It focuses on topics such as the labor value theory, enterprise theory, globalization theory, economic growth theory, and employment theory, primarily in the first 7 articles. The second line of thought holds the basic view that neoclassical economics' perspective of treating all variables as technical relationships fundamentally deviates from the correct direction. In contrast, Marxist economics' value theory, distribution theory, and analysis of effective demand, which are based on social relationships as the analytical foundation, can scientifically explain the determination of variables in the national income accounting system. Based on this view, a macroeconomic system can be established, grounded in Marxist price theory and surplus value theory, with the rate of profit as its core, and including national income accounting, effective demand, economic growth, and cyclical fluctuations, among others. This part of the content is concentrated in the last 5 articles. Target Audience: Theoretical workers and college/university students.