Hypothesis of Productive Efficiency of Capital -- Research on the Form of Productivity Realization Under Market Mechanism

Author: Lü Wei
Publisher:
Publish Date: 2005-07-01
Features: Based on the theoretical framework of Marxist productivity and production relations, and grounded in the fundamental principles of Marx's political economy regarding changes in the mode of production, this book defines the concept, principles, and laws of the "productivity of capital" hypothesis and establishes models, thereby forming a logically rigorous hypothesis system. It also incorporates and integrates several achievements of Western economic growth and development theories. Through a study of the large-scale production methods in human development history, particularly those set against the backdrop of three industrial revolutions, the book delves into the productivity and efficiency of capital, drawing some research conclusions with significant theoretical and practical value. The book is well-structured, logically clear, thoroughly argued, and highly innovative. The Hypothesis of the Productivity 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 on the theoretical framework of Marxist productivity and production relations, and grounded in the fundamental principles of Marx's political economy regarding changes in the mode of production, the book defines the concept, principles, and laws of the "productivity of capital" hypothesis and establishes models, thereby forming a logically rigorous hypothesis system. It also incorporates and integrates several achievements of Western economic growth and development theories. Through a study of the large-scale production methods in human development history, particularly those set against the backdrop of three industrial revolutions, the book delves into the productivity and efficiency of capital, drawing some research 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 integrate Marxist political economy with Western economic analytical paradigms, creating 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, as well as 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 has established a systematic theoretical hypothesis system from his unique perspective, which is rare in a domestic context where Western economics prevails.
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.