A Study on Economic Circulation and Economic Growth from the Perspective of Reproduction in an Open Economy
In recent years,the global economy has been sluggish,the momentum of the international economic circula-tion has weakened,China's economic circulation has been blocked,and economic growth has decelerated.In order to en-sure that China's economy will always survive and develop with vigor,and successfully achieve the goal of building a great modern socialist country in an all-round way under the background of the instable and uncertain international situa-tion,the CPC Central Committee with Xi Jinping as its core has made a great decision to build the new development para-digm by judging the hour and size up the situation.Expanding Marx's theory of social reproduction into open economy and studying the reasons for the deceleration of economic growth with economic circulation as pointcuts are of great sig-nificance to the stable development of Chinese economy in the changing world economy.Based on Marx's theory of social reproduction and capital accumulation and Xi Jinping's important discussion on building the new development paradigm,combining theoretical analysis and mathematical analysis,and using data pro-vided by World Bank,Groningen Growth and Development Center,National Bureau of Statistics of China,etc.,this paper conducts a study on the relationship between economic circulation,capacity utilization,and economic growth in open economy.First,we construct a social reproduction scheme in open economy and grasp the economic circulation and the conditions of smooth circulation in understanding the new development paradigm.Secondly,based on the expanded so-cial reproduction scheme,we analyze the main reasons for overcapacity and obstruction of the economic circulation,and construct a non-equilibrium economic growth model to analyze the impact of overcapacity and obstruction of the circula-tion on economic growth.Thirdly,we use domestic and international data for empirical analysis.Finally,we discuss the impact of scientific and technological progress on economic circulation and economic growth,and respond to the"China overcapacity theory"fabricated by the United States and the West.The main conclusions are as follows.The smooth circulation requires that the money which is advanced into circula-tion returns to its starting-point,and the expanded social reproduction equilibrium formula holds.However,the immanent law of capitalist production and competitive coercive law rule out this possibility.Technological progress only as a means of value-added leads to overcapacity,which blocks the economic circulation,reduces consumption and investment,and lowers the increment over unit advanced capital,hence economic growth decline.This can be manifested by the eco-nomic growth formula incorporating capacity utilization.Empirical analysis show that capacity utilization,economic cir-culation and economic growth have similar trend,and the trend in China is relatively similar to that in the world.How-ever,the reasons for China's declining capacity utilization,poor circulation and slowing growth rate are fundamentally different from those of the capitalist country.In order to achieve steady and relatively fast growth of China's economy in the changing world economy,we must accelerate the establishment of the new development paradigm,and unblock the"big circulation"and"dual circulation".The key measures are organically combining the improvement of supply quality with the expansion of domestic demand,and building a community with a shared future for mankind.This paper has the following contributions or innovations.First,it expands Marx's social reproduction theory to open economy and constructs a social reproduction equilibrium formula of state-sector × state-sector dimension.Second,it explains the connotation of the new development paradigm based on the expanded social reproduction and the law of money flow back to its point of departure.Third,based on the capital accumulation theory and the expanded social repro-duction formula,using the method of combining theoretical analysis and numerical simulation,it explains the causes of overcapacity in the capitalist market economy.Fourth,it constructs a non-equilibrium economic growth model that incor-porates capacity utilization,and analyzes the mechanism by which overcapacity affects economic growth in combination with economic circulation.The innovations of this paper provide new ideas,new perspectives,and new methods for Marxist research on economic growth.
New Development ParadigmOpen EconomyEconomic CirculationEconomic GrowthSocial Reproduc-tion
NETL
NSTL
万方数据
