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Abstracts of papers published by teachers of Institute of Economics (Issue 13)

1.LI Bangxi, CUI Zhen. Tensor Analysis of the Price Theory: A Neo-classical Alternative Framework[J]. Contemporary Economic Research, 2019,282(02):2+7-17+115.
Price theory is an important part of economic analysis. Starting from classical economics, different interpretations of the principle of price formation have become the theoretical foundations of different schools of economics. However, the analysis of the price theory is mostly limited the reasons for the formation of specific prices, and few scholars consider the transformation of different price systems. By reviewing the development of the theory of value and price starting from Adam Smith, it can be found that tensor can further rationalize the price theory as a mathematical tool, and thus provide a method for the transformation between different price systems based on the labor value theory. Moreover, the tensor theory can be tried to build the framework foundation of economic theories. The theory can also be used to analyze value transformation, international trade, financialization and other classic political economics issues.
2.LI Daokui, LI Keaobo. Dialectical Consideration of the Purpose and Methods of Deleveraging[J]. Financial Economics, 2019,499(01):21-22.
Private entrepreneurs are on our own side, which is China’s own truth, and also the basic law of economic and political development in the international community. Since April 2018, there have been some ideological and cognitive misunderstandings in the theoretical circles. A few commentators believed that the private economy had completed its historical mission, and should be taken over by the state-owned economy. This is not only a complete ignorance of basic economic laws, but also a violation of the most basic international political and economic common sense.
3.LONG Denggao. The Evolution of Traditional Institutions of Land Property Rights in China[J]. Modern Chinese History Studies, 2019,229(01):131.
The land property right institutions have laid the institutional foundation for China’s traditional economy to be in the lead in the world for a long time, and have also been the key to the social and economic transformation of modern China, as well as have unique theoretical values in the history of world economy. However, the academia hasn’t conducted a systematic analysis for this, and thought that they were the causes of poverty and backwardness in modern China. This book constructs and comprehensively discusses the traditional theories of land property rights in China from the perspective of stratifications of land property rights, including the forms of land property rights such as ownership, possession and use rights, and the land property rights trading system composed of permanent sale, flexible marketing, pawn, rent deposit, general tenancy, mortgage and “Taijie” and so on. Through the historical studies of pawn right transaction and discrimination of various transaction forms, the unique institutional heritages are sorted out. Under this analytical framework, this book reveals the role of the land property right market in allocating production factors and improving production efficiency, especially the complementarity between the land property right market and individual family farms. It cultivated the middle class of farmers and strengthened the essential characteristics of the traditional economy in the relatively stable economic evolution, but also restrained the emergence and growth of heterogeneous capitalist factors. Thus, by comparing the differences in the forms and operation modes of land property rights between China and Western Europe in the pre-modern times, the different characteristics and differences of economic development paths between them are uncovered. The previous studies did not explore the land property right institutions deeply, resulting in various theoretical misunderstandings to a certain extent, such as owner-peasant optimum theory, low efficiency of tenancy system, and increasing intensification of land concentration. Based on economic principles and historical empirical evidence, this book systematically reflects on and verifies the distribution of land property rights before liberation and analyzes the negative feedback mechanism of land annexation according to the general survey data of land reform. The special history formed the mainstream ideological trend and mandatory institutional change of the average land property rights in the 20th century. In the new century, the land transfer and market-oriented allocation of production factors and resources are encouraged. This book provides references and enlightenments for the current agricultural land reform under the historical context and economic logic of market economy.