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On Theories of Social Economic Adjustment by Marx
CHENG Bao-liang
Teaching and Research
2000, (2):
24-28.
Marx, who initiated theories of social economic adjustment, maintained that distribution of the total amount of labor in proportion is a general principle which could be applied to all social forms. The ways of actualizing might vary from one society to another, though. He pointed out that under circumstances of private commodity economy this principle was realized through competition in the market and law of value. Under circumstances of capitalist economy, it was manifested by regulations in the form of materialization and values of social products as a whole. He made the scientific prediction that in the future society of public ownership, people would realize proportional distribution of the total amount of labor by means of direct control and planning in advance.
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