Surplus Value and Socialist Political Economy with Chinese Characteristics: An Investigation from Intellectual History

As early as in 1980’s and 1990’s, some scholars such as Zhuo Jiong and Jiang Xuemo ever argue that the category of surplus value, if explained properly, can be applied in socialist political economy. Regrettably, even as late as in today, this argument has not yet been generally accepted among the academics. This article investigates the relevant history of thought of socialist political economy from Stalin through Mao Zedong, and then revaluates the contribution of Zhuo Jiong, especially his differentiation of the duality of surplus value. The law of production of social surplus value is one of the fundamental laws of motion in the preliminary stage of socialism, which serve as theory of framework for reference, explaining the role for socialist market economy in developing and liberating forces of production.