Hypothesis of the Productive Efficiency of Capital: A Study on the Forms of Productivity Realization under Market Mechanisms

Author: Lü Wei
Publisher:
Publish Date: 2005-07-01
Features: Based on the theoretical framework of Marxist productivity and production relations, this book builds upon the fundamental principles of Marx's political economy regarding changes in the mode of production. It defines the concept, principles, and laws of the "productivity of capital" hypothesis and establishes models, forming a logically rigorous hypothesis system. Additionally, it incorporates and integrates certain achievements of Western economic growth and development theories. Through a study of the large-scale production methods in human history, particularly those shaped by the three industrial revolutions, the book delves into the productivity and efficiency of capital, drawing conclusions with significant theoretical and practical value. The book is well-structured, logically clear, thoroughly argued, and highly innovative. The Productivity Efficiency Hypothesis of Capital—A Study of Productivity Realization under Market Mechanism is a of the author's long-term and in-depth reflection and research on the core content of Marxist political economy during his practical work and academic pursuits. It represents an important and unique step in the study of capital and its integration with contemporary Chinese practice within Marxist political economy.
Building upon the theoretical framework of Marxist productivity and production relations, the author, based on the fundamental principles of Marx's political economy regarding changes in the mode of production, defines the concept, principles, and laws of the "productivity of capital" hypothesis and establishes models, forming a logically rigorous hypothesis system. Simultaneously, it incorporates and integrates certain achievements of Western economic growth and development theories. Through a study of the large-scale production methods in human history, particularly those shaped by the three industrial revolutions, the book delves into the productivity and efficiency of capital, drawing conclusions with significant theoretical and practical value.
The author moves beyond the conventional focus on the production relations represented by capital, instead adopting a unique research perspective—the "productivity of capital"—to attempt to combine the analytical paradigms of Marxist political economy and Western economics, establishing a platform for mutual communication. At the same time, it provides a valuable perspective for understanding capital under socialist conditions. This is because "productivity is the material content of any mode of production."
Regardless of the correctness of the author's views, this attempt itself is commendable and worth. Throughout the book, it is well-structured, logically clear, thoroughly argued, and highly innovative. It can be said that the book reflects the author's keen and profound insight into economic issues while also demonstrating his solid theoretical foundation and strong comprehensive ability. Especially as a young scholar who is not a trained political economist, Professor Lü Wei demonstrates a deep understanding of Marxist political economy and establishes a systematic theoretical hypothesis system from his unique perspective, a rare sight in a domestic academic environment dominated by Western economics.
Therefore, it is believed that the publication of this book will bring a breath of fresh air to the relatively stagnant research on Marxist political economy in China, sparking attention and discussion.