Intersectoral Resource Flows and China’s Economic by Yumin Sheng

By Yumin Sheng

This publication makes a survey of the methodologies utilized in prior quantitative research of intersectoral source flows (IRF). in response to the dialogue of the defects of a lot current paintings, an try is made to enhance the size of IRF. The ebook is a scientific research of IRF in China 1952-1983 and lays a lot of the basis for constructing a coherent research of the timing, dimension and path of IRF in China. the main discovering from the empirical research is that whereas the chinese language executive extracted assets from agriculture via rate mechanism, huge quantities of the extracted assets have been pressured to come to agriculture.

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1928, p. 84; Chen Kaiguo, 1982). The latter argument, based on the conventional interpretation of the Marxian labour theory of value, implies that unequal exchange between agriculture and industry has not only existed but also expanded, in the sense that agricultural commodities have been increasingly underpriced and industrial commodities increasingly overpriced relative to their respective 'labour value'. 2 MEASUREMENT OF UNEQUAL EXCHANGE Unequal exchange or 'value scissors differential' is extremely difficult to measure, and so is the amount of resources extracted from agriculture in this sense.

Millar's inability to avoid involving a standard of distributive justice shows the difficulty economics faces in trying to expel nonnative factors. If one wants to analyse an economy positively, one has to firstly make clear one's nonnative preconceptions as a part of the objective foundation upon which the analysis can be made. In one of his later papers (1974), we eventually find Millar's standard of distributive justice. Objecting to the use of 1913 world prices to calculate agriculture export surplus in the Soviet Union in 1928-32, Millar argues: 'There is ...

In the light of this relationship, it is concluded, for example, that unequal exchange will grow if labour productivity in industry increases faster than in agriculture but the price ratio of industrial products to agricultural products remains unchanged. The problem with this measurement is that, without further information, it cannot be used to judge whether unequal exchange exists at any given point of time. When the existence of unequal exchange is proved by some other means, it can show the direction of change in unequal exchange.

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