The Supply Side Structural Reform Study Based On Marx's Supply-demand Balance Theory

With the development of the Chinese characteristics theory and socialism construction,the hot issue for the economics community and Marxist theorists is how to research and analyze China's economic problems base on the theory of Marxist political economics.Supply-Side Structural Reform" was put forward in the context of China's economy entering into the reform and upgrading period.It is also the latest theoretical result of creatively applying Marxist political economy theory to solve practical problems in China since the 18 th CPC National Congress.Socialism with Chinese characteristics has entered a new era.The major social contradictions in our country have been transformed into the contradiction between the people's ever-growing needs for a better life and unbalanced development.The scientific and accurate understanding of the main contradictions in our society has more fully demonstrated the necessity and inevitability of China's structural reforms.Supply and demand are two basic categories in the social economy.They are also the key factor in determining the economic performance.The law of supply and demand and its balance are the basic economic rules that any social and economic activity must follow.On the basis of criticizing the related theories of bourgeois economists,Marx established a scientific balance of supply and demand theory.Marx's supply-demand balance theory contains both the micro-level market equilibrium and the macro-level aggregate balance and structural equilibrium.The connotation of Marx's supply-demand balance theory includes the theory of effective supply and effective demand,two kinds of meanings of socially necessary labor time theory,the theory of supply and demand balance in social reproduction theory,the theory of economic crisis under the conditions of imbalance between supply and demand,and the supply and demand balance theory of money.The formation of a relatively complete theoretical system has laid a solid theoretical foundation for us to study the supply-side structural reforms.The fundamental purpose of structural reform on the supply side is to improve supply quality and improve the adaptability of the supply structure to the demand structure.The key tasks of the structural reform on the supply side are de-capacity,de-stocking,de-leveraging,cost reduction,and short-swapping.At the same time,it must correctly handle the relationship between the government and the market,“subtraction” and “addition”,short-term and long-term,supply and demand.The supply-side structural reform cannot be interrupted by the theory of Western economics and the so-called “neo-liberalism” ideology,but it is necessary to insist on the theoretical basis of Marx's supply-demand balance theory.The supply-side structural reform must adhere to the five basic principles,such as,supply-side and demand-side co-development,supply and demand internal structure balance,improve total factor productivity,prevent economic risks,avoid crisis of relative over production.We must use reasonable monetary and fiscal policies,adopt practical and feasible measures,actively and steadily promote “three visits,one drop and one supplement,” cultivate new economic development momentum,provide sustained,healthy,and stable growth for the economy,and provide an endless stream of efforts to enhance the quality of development.Endogenous power to ensure long-term balanced development of the national economy.This is an inevitable conclusion based on Marx's supply-demand balance theory to study the supply-side structural reforms.