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Academic Journal of Humanities & Social Sciences, 2021, 4(4); doi: 10.25236/AJHSS.2021.040411.

The theoretical basis of supply side structural reform: a comparative analysis of Marxist value theory and Western supply school theory


Zhang Jinyang

Corresponding Author:
Zhang Jinyang

Hebei University of Engineering, School of Landscape and Ecological Engineering, Hebei Handan 056038, China 


To guide the supply side structural reform in China with Marxist political economy, we must recognize the Western supply school and Marxism the fundamental difference of Economics on this issue. Based on the analysis of factor axiology, the western supply school confuses the difference between value and wealth, and not only ignores it this paper analyzes the circulation and Realization of value, ignores the economic effect of value distribution on production, and separates the dialectical relationship between demand and supply. Marxism political economy organically integrates the four links of “production, distribution, exchange and consumption” of social reproduction, not only focusing on the production and flow of value therefore, we should pay more attention to the distribution of value, which can more effectively explain and correctly guide the smooth progress of China’s supply side structural reform.


supply-side structural reform; theoretical basis; Marxist value theory; comparative analysis

Cite This Paper

Zhang Jinyang. The theoretical basis of supply side structural reform: a comparative analysis of Marxist value theory and Western supply school theory. Academic Journal of Humanities & Social Sciences (2021) Vol. 4, Issue 4: 45-48. https://doi.org/10.25236/AJHSS.2021.040411.


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