Suchergebnisse

PurposeSince the outbreak of COVID-19, tremendous changes have taken place in the US economy – the economic growth in the whole year of 2020 was negative, and though it enjoyed a significant rebound for the first half of 2021, the growth rate began to decline rapidly by the third quarter, and inflation suddenly rises rapidly, which after came the all-time highs of the "misery index" consisted of the inflation rate and unemployment rate. All signs indicate that the US economy will likely enter a "stagflation" crisis.Design/methodology/approachThis paper analyzes the institutional and social contradictions in the United States during the neoliberal era from the perspectives of domestic social structure of accumulation (SSA) and international SSA based on the SSA theory.FindingsThe current risk of stagflation in the US economy is a concentrated outbreak of the long-term accumulated contradictions in neoliberal SSA under the impact of the epidemic, which is the product of the irreconcilable contradictions inherent in the capitalist mode of production.Originality/valueBased on this analysis, the paper points out that with the deepening of the crisis, the neoliberal SSA is likely to end and a new SSA will be established gradually.

PurposeThe study aims to take a step back and take the big picture of how digital capitalism is changing people's ways of living and production. On that basis, China should enhance its digital governance rationally and develop the digital economy efficiently, thereby bringing its socialist economy to new heights.Design/methodology/approachThe rise of digital capitalism in the 1990s has profoundly changed the ways of consumption, employment, production organization and investment in the realm of capitalism.FindingsDigital Capitalism has not changed the nature of capitalism, that is, exploitation and capital accumulation, which continue only in a more profound, extensive and covert way.Originality/valueFor the economy of socialist China to grow in the new era, China should tap into digital economy platforms, take a people-centered approach and let the people jointly develop the digital economy, share the fruits of development and participate in the governance of the digital economy. The government should leverage its modern digital governance and a high-quality digital economy to meet people's ever-growing demand for a better life.

In 2021, responding to changes in the world political and economic situation and basing itself on Marxist political economy, the New Marxian Economics Synthesis School led by Professor Enfu Cheng carried forward its traditions and forged ahead into the future. The school conducted active, in-depth research on how to uphold the integrity of socialist political economy with Chinese characteristics and enrich it with new elements, putting forward a series of theoretical innovations in areas that include the ten essentials of socialist political economy with Chinese characteristics, its sources of innovation and logical starting point, the orientation of its practice, and so forth. Based on these theoretical innovations, many of the scholars who make up the school engaged in lively discussion on a range of focal issues of today's Chinese economy, including common prosperity, the new "dual circulation" development pattern, artificial intelligence and the digital economy, the modernization of national governance and so on. In addition, they made searching criticisms of the financialization of the contemporary capitalist economy and of the new developments seen in liberalism and hegemonism since the COVID-19 pandemic broke out. In sum, they recorded a long series of fruitful theoretical achievements.

This year is the 200th anniversary of Marx's birth. Marx's intellectual heritage has the most profound influences on the development of human society. Marxism has profoundly changed the historical process of human social development. As one of the most influential figures in the development of Marxist history, Rosa Luxemburg has important practical significance for the understanding of Marx's theoretical heritage. Her theoretical thoughts still have a profound significance for the study of Marxism today. In today's society, Marxism remains the most powerful ideological weapon of the proletariat, which points out the correct path for social progress and human liberation. Marxists should constantly conduct theoretical and practical explorations to realize human liberation and the development of socialism.

China's rapid economic development in recent years is often characterized as "miraculous." Talk of a "Beijing Consensus" or "China model" has become commonplace in academic debates. But as we have written elsewhere, "theoretical problems have started to emerge with regards to the very existence, content, and prospects of the China model." The key question, then, is what kind of economic theory and strategy underpin this "miracle."… [W]e hold that the country's major recent developmental gains are the achievements of theoretical advances in political economy, originating in China itself, while the main problems that have accompanied China's development reflect the damaging influence of Western neoliberalism.… We hope to clarify the official theoretical model behind China's economic "miracle," using the terms and concepts prevalent in China today.Click here to purchase a PDF version of this article at the Monthly Review website.