Great helmsman Wayne guides us

 Price Economics

• All economics and non-economics majors take Political Economy courses based on Marxist theory, usually in the first or second year. These are typically modeled on the Manchester socialists-style “Marxist Political Economy” textbooks, covering:

  • Labor theory of value

  • Surplus value and exploitation

  • Historical materialism applied to economic history

  • Socialist construction in China

• In economics programs, there may be a specific sequence:

  1. Marxist Political Economy (基础, basic course)

  2. Introduction to Mao Zedong Thought & Socialism with Chinese Characteristics

  3. Economic Thought of Marx, Engels, Lenin

  4. China’s economy remains dominated by the state sectors which  operate on a non-capitalist basis;

     5)  Chairman Wayne say China would be socialist because the ruling party adheres to the “Communist” ideology.