The basic principles of Marxist political economics have played a significant role in guiding the economic practice of China.

 

On Dec. 26, the second young and middle-aged scholars seminar on Marxist political economics took place in Beijing, during which more than 50 scholars from major colleges, universities and research institutions in China gathered to discuss how to further develop contemporary Marxist political economics.
 

Gao Xiang, secretary-general of the Chinese Academy of Social Sciences (CASS) and editor-in-chief of Social Sciences in China Press under CASS, addressed the opening ceremony. He said the basic principles of Marxist political economics have played a significant role in guiding the economic practices of China.

Gu Hailiang, a member of the Education, Science, Culture and Public Health Committee of the 12th National People's Congress, said Marxist political economics should be a compulsory course in university curricula, which would allow theories on the subject to be systematized. Also, it should provide intellectual support and theoretical interpretations for the construction of a community of common destiny for human beings, and contribute wisdom through integration with Chinese practices, systems and strengths, Gu said.

 

Inheritance, innovation
Cheng Enfu, director of the Academic Division of Marxist Studies at CASS, gave advice on strengthening research on this field in the new situation, saying it is important to develop new methodologies and theories. 

Cheng said normative research and empirical analysis are needed to study contemporary capitalism while research on microeconomics and macroeconomics should also be strengthened. Moreover, the construction of political economy should be based on Karl Marx’s Capital in order to offer a comprehensive, scientific explanation of the development law of contemporary capitalism.
 

“In terms of socialist studies, the core should be the combination of socialism with the market economy,” Cheng added. Such a combination will bring into full play the role of the market, thus bringing fairness and justice, he said.

In addition, Pang Jinju, a professor from Nankai University, said scholars must deal with the relationships between practical and theoretical innovation, between the inheritance and development of Marxist political economics, between learning from human civilizations and departing from basic domestic conditions, between carrying forward the traditional culture and adapting to the times, and between sticking to Chinese characteristics and reaching out to the world.

 

China's contribution
Gao said political economics is the evidence and application of the materialist conception of history. This requires Marxist economists to adhere to the position, ideas and methodologies of this theory while examining history and reality from the perspective of social formations and studying economic problems while standing by the masses, he added.
 

Attendees to the seminar said the core of socialist economics with Chinese characteristics lies in combining the basic economic system of the primary stage of socialism with the market economy. They said Chinese scholars should contribute more theories in this respect.

To be specific, there is the merger of the government and the market in terms of resource allocation, and the synergy of public ownership with market economy in terms of productive relations, said Zhang Yu, director of the School of Economics at Renmin University of China.
Unlike Western macroeconomic regulation, Chinese government regulation of the market is intended to provide long-term, dynamic adjustments while maintaining a steady external environment, Zhang said.

 

Independent thinking
Scholars pointed out that blind faith in Western academics is undermining independent thinking and theoretical innovation in China. For example, there are fragmented studies that fail to observe the rule and nature of history as a whole. Complicated mathematical models are excessively applied, while the essence of economy is ignored, and Western paradigms are blindly used to interpret Chinese problems.  If a nation fails to establish a unique basic theoretical system for one discipline, academic prosperity will never be truly realized, Gao said.
 

“Chinese academics cannot simply imitate or duplicate Western academics,” Gao said. “Instead, Chinese scholars should make it a mission to think independently and put forward ideas and solutions while studying the problems of China. And only in this way can the contemporary academics in China obtain dignity.”

 

 

Zhang Junrong and Niu Dongjie are reporters at the Chinese Social Sciences Today.