Hypothesis of the productivity efficiency of capital

Author: Lü Wei
Publisher:
Publish Date: 2005-07-01
Features: "The Productivity Efficiency Hypothesis of Capital—A Study on the Form of Productivity Realization under Market Mechanism" is a phased outcome 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 learning process. It represents an important and unique step in the study of capital and its integration with contemporary Chinese practice within Marxist political economy. Based on the theoretical framework of Marxist productivity and production relations, and grounded in the fundamental principles of Marxist political economy regarding changes in production methods, the author defines the concept, principles, and laws of the "productivity of capital" hypothesis and establishes a model, thereby forming a logically rigorous hypothesis system. At the same time, it incorporates and integrates certain achievements of Western economic growth and development theories. Through an in-depth study of the large-scale production methods in human history, set against the backdrop of three industrial revolutions, the author explores the productivity and efficiency of capital, drawing some research conclusions with significant theoretical and practical value. The author moves beyond the conventional approach of focusing 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 reference for people's in-depth understanding of capital under socialist conditions. This is because "productivity is the material content of any production method."
Regardless of whether the author's views are correct or not, this attempt itself is valuable and worth. Throughout the book, the structure is rigorous, the logic is clear, the arguments are well-supported, and the innovation is strong. It can be said that the book reflects the author's keen and profound insight into economic issues, as well as his solid theoretical foundation and strong comprehensive ability. Especially as a young scholar who is not a graduate of political economy, Professor Lü Wei has achieved a relatively profound understanding of Marxist political economy and has established a systematic theoretical hypothesis system from his unique perspective. In a domestic environment where Western economics prevails, such an achievement is rare. Therefore, it is believed that the publication of this book will bring a breath of fresh air to the somewhat stagnant research on Marxist political economy in China, sparking attention and discussion.