Social Sciences in China (Chinese Edition)

No. 4, 2021

The Value of Capital in the Socialist Market Economy

(Abstract)

Zhou Dan

Modernity is a philosophical representation of modern society in which capital serves as the central concept. Why can socialism with Chinese characteristics be located in modernity and at the same time surpass it? According to historical materialism, the economic base determines the superstructure. By intervening in production relations, socialist public ownership and its capital form take control of the traditional logic of capital. Activating the civilized side of capital, they overcome capital’s production contradictions while avoiding being sucked into capitalist metaphysics. China’s modernization, marked by a socialist market economy and publicly owned capital, is a viable solution to the modernity dilemma for human society to realize the liberation of mankind.