Since the publication of my academic paper "On the Socialist Market Economy" in March 1979, following the practice of China's reform and development, continuing to explore the basic theoretical issues of the socialist market economy has been the main topic of my study and research in the past 30 years. This collection of essays contains some of the manuscripts published over the past three decades. It reflects the tortuous, repeated and gradual deepening historical process of my understanding of the socialist market economy. 1. After the publication of the article "On the Socialist Market Economy", I still insisted on my basic views, research methods and ideas, and continued to explore. For a long time, the "theory of socialist market economy" was not recognized, and it was snubbed and even criticized for a long time, but I was not discouraged. Follow-up research mainly expands in two directions. On the one hand, it seeks evidence from the history of social and economic development, and explores the inherent regularities of commodities and markets as economic forms shared by human society so far; On the other hand, we should go deep into reality and take advantage of the opportunity of economic restructuring and reform to focus on studying the regulating role of the market in economic operation and development, so as to find a historical and theoretical basis for the market, market mechanism, and positioning of the market economy. At that time, I was fortunate to be seconded to the Economic Group of the Research Office of the Central Office. This is an extremely rare opportunity and a very favorable condition for me, who has lived in the book for a long time. I read a lot of materials from all walks of life and was assigned to the front line of the machinery industry to conduct field research. At that time, the national economy was in a period of adjustment, and the situation facing this industry was very difficult, and a large number of enterprises were in a state of suspension and semi-shutdown, and it was urgent to find a way out from reform and adjustment. During this period, I published my research results and successively published "After Mechanical and Electrical Products Enter the Market", "On the General Prescriptiveness of Commodity Economy", "Theory of Socialist Commodity Economy" and so on. In the political climate of the time, the category of "commodity economy" was much more fortunate than that of the "market economy". It has been widely recognized by the official and academic circles. And the category of "market economy" and "socialist market economy" did not obtain a "legal" "identity card" until the late 80s. Follow-up research strengthened my belief and self-confidence. When I conceived and drafted these papers, I did not deny the basic thesis, arguments, methods, and ideas of the paper "On the Socialist Market Economy." Research and writing are carried out entirely according to the idea of continuing, enriching, perfecting, developing. I have always regarded these manuscripts as a continuation of the "Trial Theory", which complement each other and form a whole, and more completely embody my socialist market economic outlook. At that time, a friend poked this layer of window paper and said to me, "You are a new bottle of aged wine." "Frankly speaking, on this issue, my research has not transcended the limitations of history and is still marked by the times. 2. "On the Socialist Market Economy" is an introductory work for me to engage in academic research, and it is also the foundation work for me to study the basic theory of the socialist market economy. After more than 30 years of arduous exploration, my anti-neoliberal view of socialist market economy has been initially formed. ——As the inheritance of classical economics, economic liberalism has undergone a long-term historical process of emergence, development and transformation. At the level of economic operational countermeasures, certain principles of neoliberalism have a certain degree of feasibility. However, it must not be held up on the altar of the guiding ideology of national development and reform. In the process of drafting "On the Socialist Market Economy", I studied the history of socialist economic thought more systematically, and consulted the materials of the debate between planning and the market in the economic circles in the early 2020s. If Mises's opponents of the planned economy are classified as economic liberal, then his ideas should be divided into two. He makes a judgment based on logic, not on facts, that there are drawbacks in the planned economy, which should be regarded as having some reasonable elements, and planning management should be taken as a warning. In the 70s, the British and American governments elevated neoliberalism to the throne of "national studies". Although it has made great contributions to Western countries getting out of "stagflation", it has gradually degenerated into a slave and weapon for the US and British governments to promote neocolonialism abroad, disintegrate socialist countries, maintain US economic hegemony, and pass on economic and financial financial crises. This is already a fact for all to see. Why should the US government and its royal think-tanks exclude China from the inclusion of a large market for promoting neoliberalism? - Contrary to Western market fundamentalism and its adherents, I study the problem of the socialist market economy through the historical materialism created by Marx, not historical idealism. Historical materialism is the only scientific method for studying socio-economic problems. Without this, it is impossible to draw realistic conclusions by studying any socialist social and economic problems. In the dictionary of market fundamentalism, the market is an eternal category that transcends history, and the function of the market to optimize the allocation of resources is an absolute concept that does not depend on the state of productivity and social production relations; The market is the best remedy for the "business cycle". But, short-lived, a major crisis of the worst postwar period tore the glamorous veneer of neoliberalism. Keynesianism could not save capitalism, neoliberalism helped Keynesianism out of trouble, but the Great Crisis declared neoliberalism bankrupt. Judging from the countermeasures introduced by Western countries, in the lifetime of capitalism, the capitalist system seems to have exhausted its skills, and it seems that it can only oscillate between these two isms. Marx pointed out that "the most fundamental cause of all real crises is nothing more than the poverty of the masses and their limited consumption, and capitalist production tries to develop the productive forces despite this situation, as if only the absolute consumption power of society is the limit of the development of the productive forces." "3476642 now, Western governments are digging their own traps, trying to find a way out of the crisis by austerity, public welfare and social security. -- The development of Chinese society can go beyond the historical stage of capitalist development, but it cannot go beyond the long-term process of large-scale development of commodity production. This is the objective inevitability determined by the current situation and development trend of China's productive forces. China's socialist system was born out of a semi-feudal and semi-colonial society. In old China, modern industry accounted for only about 10% of the national economy, and in the vast inland areas, the self-sufficient semi-self-sufficient natural economy dominated for a long time. After the people seize power, along with the process of industrialization and modernization, it will inevitably bring about the great development and prosperity of the commodity economy. Marx pointed out: "Can people freely choose a certain form of society? Never. Under a certain condition of the development of people's productive forces, there will be a certain form of exchange and consumption. At a certain stage in the development of production, exchange and consumption, there will be a certain social system. "People are not free to choose their own productive forces – this is the basis of their entire history, because any productive force is a vested force, the product of past activities". The economic forms through which people produce, consume and exchange are temporary and historical". 3476643 in our country, characterizing the socialist economic form at the present stage as a socialist market economy, and the economic reform aimed at establishing a socialist market economic system, reflects the requirement that production relations must adapt to the law of the nature of productive forces. The positive and negative experiences and lessons of the socialist system since its birth have confirmed that this historic choice is feasible and sustainable. Some argue that the market economy is only compatible with private ownership; Since a market economy is to be implemented, privatization is necessary; Socialism is incompatible with the market economy. However, facts have proved that there is an irreconcilable contradiction between capitalist private ownership and the modern market economy. Repeated economic crises are always like malaria that clings to the capitalist system and does not let go. Crisis is to use the method of destroying productive forces to forcibly restore the balance between production and effective demand, and promote the sustainable development of production. Historically, commodities, money, and markets have emerged at the end of primitive societies, and they have served social systems of different natures. It is an economic form shared by a variety of social production relations, and various commodity economies are different from each other due to different ownership and distribution methods. The socialist mode of production is compatible with the commodity market economy. Realizing the organic integration of the basic socialist economic system with the market operation mechanism is an inevitable choice of historical economic reform. This is determined by China's national conditions and the world's political and economic pattern. The ultimate outcome of the completely privatized market economy will inevitably lead to the polarization of the rich and the poor, and China will inevitably become an economic colony at will. This is a dead end. The integration of the basic socialist economic system and the market economy is not only necessary, but also possible. For both are subject to the same rule: the principle of exchange of equal amounts of labor. The socialist market economic system correctly embodies the intrinsic identity of the two. The so-called "clear property rights" is a misunderstanding in the reform of public-owned enterprises. "Clarity of property rights" is a concept that is ambiguous in both connotation and extension, and it is itself unclear. In view of the drawbacks of soft budget constraints in the public economy, reform should not regress to private ownership, but should reform the structure of property rights, establish a relationship of mutual restraint of interests, powers and responsibilities between owners, agents and operators, and change the situation of only enjoying benefits but not taking responsibility. It is not feasible to take into account the nature of productivity and to make property rights a clear criterion. The property rights of individual private ownership are the clearest, but can they be transferred to socialized mass production? Never. - The law of value is the "basic law" of the commodity economy (Engels). It is the law of value, not the relationship between market supply and demand, that ultimately determines the proportion of social labor, that is, the distribution of resources in various sectors. The organic combination of planned regulation and market regulation is a feasible choice to realize the requirements of the law of value and promote the sustained, steady and coordinated development of the national economy. The proportional distribution of social labor, that is, resources, according to social needs is the material prerequisite for human survival and development. Therefore, this is a universal common law of human society. Under the conditions of the commodity economy, this objective necessity is expressed as an intrinsic requirement of the law of value. The intrinsic unity of planning and market lies in the fact that both must fulfill the requirements of the law of value. Due to the diversification of market entities and the mercenary nature of the behavior of market subjects, the law of value can only be used as an objective necessity to forcibly implement its own requirements in disorderly market transactions. Price, profit, competition, etc., become the necessary mechanisms through which the law of value works. They each perform their own role in the market, but they must all be governed by the law of value. The law of value is the master of the market. The so-called "market plays a fundamental role in resource allocation", if understood as "supply and demand, price play a decisive role", then fall into the trap of vulgar supply and demand theory. -- The formation of the world economic system and the integration of the world economy are inevitable historical trends in the development of socialized productive forces. China has listed opening up to the outside world as a basic national policy, which precisely meets the requirements of this objective trend. However, the current situation of the world economic pattern is that the United States is hegemonic, Western powers dominate, and the vast number of developing countries are still in a state of poverty and powerlessness. World economic relations remain unequal. In this international context and environment, China, as a developing socialist power, should make greater contributions to mankind and should make a difference. On the one hand, we should make full use of the resources provided by the world market system, vigorously develop and strengthen our own economic strength, accelerate the construction of an independent, complete and advanced economic system, prevent economic risks from outside, and ensure national economic security and sovereignty; On the other hand, we should make positive contributions to the establishment of a new international economic order of equality, mutual benefit, fairness and justice, and safeguard the interests of developing countries. This should also be seen as an important aspect of the opening-up policy. Some people falsely claim that the planned economy is closed to the country. This is talking nonsense with your eyes open. Since the founding of New China, the Chinese government has been pursuing a policy of actively developing foreign economic and trade exchanges. After the outbreak of the Korean War, Western countries erected an iron curtain against our country to blockade and embargo. Today, although China is a member of the WTO, the United States and Europe still implement discriminatory trade policies against China. It is precisely for this reason that opening up to the outside world must not abandon the policy of self-reliance. The West will not grant us the ideal of realizing a strong country and a rich people, and the market cannot be exchanged for a modern power. -- China's economy has been growing at a sustained high speed in the past 30 years, and it is currently facing many problems and contradictions that are difficult to solve, which have become obstacles to achieving coordinated, balanced, steady and sustained economic development. At present, there is a serious overcapacity in industry, economic growth is too dependent on foreign trade and investment, the fruits of reform and high growth have not been shared by the people in accordance with the principle of common prosperity, the social polarization between the rich and the poor is serious, and the consumption demand of the broad masses of the people with purchasing power is relatively insufficient. Does this mean that the trend of unlimited expansion of production and the relatively insufficient demand of the masses of the people have reappeared as the basic contradiction of capitalism in the socialist market economy? What is the reason for this contradiction? This is a difficult question for economics to answer. Firmly grasping this contradiction can not only solve the difficult problem of China's sustained economic development, but also promote the theoretical research of socialist market economy to advance and develop. 3. In April 1979, a nationwide seminar on "The Role of the Law of Value in the Socialist Economy" was held in Wuxi sponsored by the Institute of Economics of the Chinese Academy of Social Sciences. At that time, China's economic reform began to gradually shift the focus to cities. The purpose of this meeting is mainly to provide theoretical support for economic reform and create an atmosphere of public opinion. Before the meeting, the Institute of Economic Research and other economic research and teaching units held bi-weekly symposiums of different scales to make full preparations. The Wuxi meeting was very fruitful and cannot be erased in the history of economic thought and reform. Compared with later conferences, this seminar is quite distinctive. It can be said that it is a platform for displaying various ideas and views on economic reform. ——The host of the conference resolutely implements the policy of "seeking truth from facts and emancipating the mind" and a hundred schools of thought, advocates the freedom of academic research, and tolerates different academic concepts, thus creating the necessary public opinion environment and a relaxed academic atmosphere for academic innovation. Comrade Xue Huqiao served as chairman of the meeting. During the presiding meeting, Elder Xue emphasized from beginning to end that a hundred schools of thought contended, spoke freely and discussed freely. "If there is only one opinion on this meeting, one-sided, then I think this meeting is not a success, but a failure." Theorists should dare to uphold the truth and stand up to their own views." He called on everyone to learn from Comrade Sun Yefang's style of daring to adhere to his own views. In the course of the meeting, a well-known scholar in Beijing heard that some people at the conference advocated that socialism can also implement a market economy, and immediately wrote a letter to the conference, criticizing this view on the basis of a sentence by Lenin, and asked that his letter be read out at the meeting. The letter did not resonate much at the meeting. The leadership of the meeting still adopts a tolerant attitude towards "differences". Three papers on market economy issues were also included in the collection published after the Conference. In his closing remarks, Xue Lao said: "This meeting was well held and met the requirements expected at the opening time." "The wind will be harmonious, and a hundred schools of thought will contend". -- The inclusion of "socialist commodity production and market economy" in the agenda should be regarded as a pioneering starting point for the study of "socialist market economy", which opened a new chapter in the study of theoretical economics. At this seminar, from the papers submitted by the participants on the "socialist market economy", two representative papers were selected for compilation in the conference proceedings. The arguments, arguments, and analysis methods of these two articles are not only different, but also have exactly the same views on the connotation and extension of this category. However, in the history of socialist economic thought, it has left an indelible mark. First, it creatively put forward the category of "socialist market economy". This category is not found in modern Western economic dictionaries. It is an innovation of the Chinese Marxist group of economists and the crystallization of collective wisdom. Crediting this achievement in the name of the neoliberal traffickers runs counter to the historical truth and is unjust and unfair. Second, it clearly points out that the establishment of a socialist market economic system is an inevitable product of China's social and economic development, the only feasible historical choice, and it is not subject to human will. Third, China's national conditions are the foothold and starting point of economic reform. Copying and copying the Western market economic model will not work. Proceeding from China's national conditions, we should continue to "cross the river by feeling the stones", explore deeply, and follow our own path in order to get rid of the troubles of Soviet Russia's doom. China's reforms should never be a second testing ground for neoliberalism. - The seminar became a platform for presenting various economic perspectives. The participating scholars were united in their words on economic reform: yes. But why, what, and how to change it is a matter of opinion. There is a topic here that deals with the study of the history of reform ideas. The study of the history of ideas has long had examples of Capital and the Academic History of Surplus Value. However, some people are now ingenious, abandoning the method of examination and using the criterion of whether they agree with the so-called "market orientation" as the criterion of taking sides. To agree with the "market orientation" is to belong to the reformers, otherwise it is conservative or anti-reformist, no matter what you say, write and do. This is clearly a political game, where is the scientific research? Comrade Xue Huqiao made a long speech at the meeting: "Planned Management of the Socialist Economy." There were also opening and closing remarks for the conference. All three papers are included in the proceedings. The content related to the theme of the conference can be summarized as follows: (1) "It is not disputed that socialist countries must develop their national economies in a planned manner. "The state must formulate a scientific, rigorous and unified national economic plan." With such a plan, it is possible to mobilize and organize the people of the whole country to fight for a common goal. However, this does not mean that the plan should be all-encompassing, and the various indicators should be forced to be implemented by the grassroots units. This is practically impossible." (2) "What we want to reform are those things that are not good and do not suit the development of our productive forces." "Affirmation or total negation is not appropriate." (3) "80% of our people are still peasants, and they still live in a collective ownership economy with a very low degree of public ownership. For them, can they implement plan management without resorting to the law of value? "Most of the state's plans for the production, sales, etc. of state-owned enterprises should be indicative plans, and the enterprises should be consulted and mainly decided by the enterprises themselves." The method of unified revenue and expenditure in finance should be abolished, and enterprises should enjoy certain rights and bear certain responsibilities for their own financial revenue and expenditure. "It is necessary to use as little administrative orders as possible to interfere with the economic activities of enterprises, and use more economic means to regulate the economic activities of enterprises." (4) "The national economic plan of the country should, first of all, correctly handle the proportional relationship between accumulation and consumption." (5) "Adjustment and reform must complement each other", "Reform in adjustment, adjustment in reform." In short, the views of Comrade Xue Huqiao at the meeting are completely different from the so-called "market-oriented reform" of those neoliberal believers. Comrade Sun Yefang made a speech on the issue of the law of value at the meeting. 3476644 speech fully reflected his profound attainment in Marxist economics classics and his rich experience accumulated in long-term economic practical work, and was highly valued by the participants. (1) He used concise and precise language to extract the essence of economics: thousand laws, ten thousand laws, value laws first; Minimum—Maximum (maximum effect with minimum consumption). (2) He profoundly revealed the three major harms caused by disrespect for the law of value: not paying attention to economic effects, not talking about equivalent exchange, and canceling the comprehensive balance. Due to the limitations of history, Sun Yefang's economic thought is deeply imprinted by the times: (1) he criticizes the "natural economy theory" without exchange and circulation, but he denies the existence of commodity production and commodity exchange within the ownership of the whole people; (2) he values equivalent exchange, but he denies that value is an intrinsic property or characteristic of commodities; (3) He valued exchange and circulation, but he regarded money as a symbol and instrument for the pure calculation of labor consumption, rather than a special commodity of general equivalents; (4) He first advocated that the law of value ranks first among many economic laws, but the law of value he defined has nothing to do with commodities, markets, and market mechanisms; (5) He called for profits to be grasped in a straightforward manner, but in his writing, the formation, distribution, and form of profits have nothing to do with the market and market mechanisms. Therefore, the goal of economic structural reform advocated by comrades in the ruling side is not to establish a socialist market economic system. Comrades Luo Gengmo, Liu Guoguang, He Jianzhang, Sun Shangqing, and others submitted papers on the integration of planning and the market. The common point of these articles is that they break through the traditional concept of planning and the market as opposed and mutually exclusive, and advocate the introduction of the market and market mechanism into the planned economic system to realize the organic combination of planning and the market. Their views aroused widespread repercussions in academic and political circles at that time, and dominated the 14th National Congress of the Communist Party of China before the 14th National Congress of the Communist Party of China stated that the reform goal was to "establish a socialist market economic system." Great progress has been made in development and reform over the past 30 years. However, there is still a long way to go to achieve the grand goal of making the people prosperous and the country strong. What we should do now is not to seek merit and rewards, but to reflect on history in a realistic manner. As this collection of articles can be published as scheduled, I would like to sincerely thank Comrades Zhang Xingsheng and Liu Yin for their help to me. Yu Zuyao, September 15, 2012（AI翻译）