The Political Economy Analysis Of Supply-side Structural Reform

Supply and demand are important variables in economics that profoundly affect economic growth and development.The imbalance between supply and demand is bound to cause an economic downturn,it will also have many negative impacts on the quality and efficiency of the economy.If the unreasonable deviation of supply and demand cannot be corrected in time,it will even cause greater crisis and damage to the economy.Therefore,promoting and maintaining the total supply and demand to match the structure and avoiding unreasonable imbalance between supply and demand is an unavoidable problem in economics.Along with China's new era of socialism with Chinese characteristics,China's economic supply and demand structure has changed from a shortage to coexistence of a surplus and a shortage.The central government has proposed a supply-side structural reform in response to the current structural imbalances in supply and demand.The supply-side structural reform has also become the main line of China's economic work for the current and future period.With the continuous advancement of structural reforms on the supply side,the reform has achieved certain accomplishments.However,with the advancement of reforms,China will have to face the challenges and obstacles of the production relations and interest relations that form structural contradictions on the supply side.If China fails to adjust the production relations and interest relations in the previous stage,the supply-side structural reforms may fall into the loop of repeating previous situations and the deepening process will be hindered,even leading to some reoccurrences of structural contradictions.Therefore,we must attach great importance to and coordinate the production relations and interests in the reformBased on Marx's theory of productivity and production relations,this paper,focusing on both domestic and international studies,draws on the essence of supply and demand theory including Marxism,Keynesianism and Western supply school.After studying the existing theories and methods of applying political economics to analyze the literature of supply-side structural reform,the paper draws on Marx's logical thinking of analyzing the relationship between productivity and production,and it puts forward the research ideas of this paper: theoretical basis-macro performance(structural imbalance of supply and demand and the supply side structural contradiction accumulation)-the operating mechanism(the supply side structural contradictions and the deepening of the supply side structural reform barriers caused by the imbalance of interests)-the essential reasons(interests correlation and interests imbalance)-interest coordination.Following this line of thinking,the structure of the article is roughly arranged as follows:The first part is the introduction.The second part defines the core concepts of this paper and goes through the classical theory to form the theoretical basis of this paper.The third part elaborates the necessity of the supply-side structural reform from the macro level and claims that the structural imbalance of supply and demand at the macro level and the long-term demand stimulus accumulation indicate that the main contradiction between supply and demand has already turned to the supply side.Therefore,the supply-side structural reform must be adhered to and deepened,and the current implementation results of the supply-side structural reform must be summarized.Then,in the fourth chapter,from the perspective of interests the paper focuses on the causes of the current supply-side structural contradictions and the obstacles to deepening the supply-side structural reforms.The paper holds the opinions that the uncoordinated interests on three levels-the government and the society,the central government and local governments,state-owned enterprises and private enterprises-have caused the existing supply-side structural contradictions and the obstacles to deepen the reform.Therefore,deepening the structural reform of the supply side still needs to be settled in breaking the interests relationship and production relationship that form the structural contradiction of the supply side.Finally,in view of the three levels of interest disharmony proposed in this paper,the fifth chapter puts forward the thinking of coordinating interests and deepening the supply-side structural reform and tries to put forward some reasonable and effective policy suggestions from a more micro perspective,in order to make some contributions to the deepening of structural reforms.