According to Professor Cheng S. N, economic institution is a subjective economic organization of the human being. His theory of "to perfect the private property rights" is actually to establish external private ownership. He associates the transaction costs with some subjective factors, so his theory is of no objectivity. It is neither logical nor of historical fact to ascribe the birth of the market relationship and private ownership to the transaction costs, namely, consumption in exchange relationship brings about the market and private property rights come to reduce the consumption. He absolutely replaces or ignores the most fundamental and deepest property right relationship of the ownership of the means of production with simple circulation relationship. His theory bases the economic hypothesis on the maximization of personal income, which agrees with those of "the natural order" and "social contracts" in the 17th century. His entire demonstration is a typical example of historical idealism methodology and goes around the private ownership economy.Confusing the basic economic institution with economic management system, he claims that the fundamental institution of socialism is unreasonable just because of some defects in the management system of planned product economy. Anyway, his statements concerning the save of public resources and diminishment of management system costs are worthy of our attention.
|Titel in Übersetzung||On the economic institution from historical idealism|
|Seiten (von - bis)||159-175|
|Fachzeitschrift||Journal of Economics of Shanghai School|
|Publikationsstatus||Published - 2003|