Principle of Income Distribution in Marx’s Economic Theory
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| Title | Principle of Income Distribution in Marx’s Economic Theory
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| Author | Wang Yao |
| Organization | Institute of Economics, CASS |
| Email | wangyao@cass.org.cn |
| Key Words | Income Distribution; Surplus Value; Minimum Wage; Absolute Rent; Labor Reserve |
| Abstract | Ricardo’s functional income distribution theory has been reformed classical dynamics by western mainstream economics, which can reveal and analyze the capitalist economy process comprehensively. Ricardo’s classical dynamics is a useful analysis tool may integrate income distribution into economic growth, which has certain reference significance. Based on the two core proposition that capital hires labor and labor is attached land in the capitalist mode of production, this article attempts to excavate and induce salary theory and surplus value theory as well as rent theory that dispersed in Marx’s classical literature which differentiates Ricardo’s in order to demonstrate Marx’s income distribution principle. With the help of the research framework of Ricardo’s classical dynamics, Marx’s income distribution model is founded. My study has found that under Marx’s discourse system the concept of labor reserve and the hypothesis of surplus value maximization make the driving mechanism and the stable structure of Marx’s income distribution model similar to the characteristics of Keynes’ unemployment equilibrium and Phelps’ Golden section law. That Marx proposed transformation imagination against capitalism income distribution has been used and developed in the theory and practice of Marxist Sinicization and socialism with Chinese characteristics. |
| Serial Number | WP1157 |
| Time | 2017-02-17 |
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