"Marx and Engels did not envisage that a market economy could be developed under socialist conditions, and of course they could not foresee how socialist countries would treat capital. Although Lenin and Stalin led the socialist construction of the Soviet Union, at that time the Soviet Union implemented a highly centralized planned economic system and basically did not encounter large-scale capital problems. To engage in a socialist market economy is a great creation of our party.
Since it is a socialist market economy, it will inevitably produce various forms of capital. Although there are many differences between capital in capitalist society and capital in socialist society, capital is all about chasing profits. “The key to uniting the people is to manage their wealth appropriately." We should explore how to play the positive role of capital under the conditions of a socialist market economy, while effectively controlling the negative role of capital.
In recent years, due to lack of awareness and lack of supervision, capital has expanded in a disorderly way, manipulated arbitrarily, and made huge profits in some areas of our country. This requires regulating the behavior of capital, seeking advantages and avoiding disadvantages, not allowing “capital predators” to act recklessly, but also giving full play to the function of capital as a factor of production. This is a major political and economic issue that cannot be avoided."
As Eric Li, socialist Venture Fund Owner puts it:
“In America, you can change the political parties but you can’t change the policies. Billionaires in America control all policy making. China is a vibrant market economy but it is not capitalist. Billionaires in China can’t control policy and capital does not have enshrined rights. In America, capital itself has risen above the nation. In the last 66 years China is being run by one single party, yet the political changes that have taken place have been wider and broader and greater than any other country in modern history.”
This is why it is far better to have one party that serves the people than two parties that both serve corporations and billionaires.
Author: Saikat Bhattacharya
