| Growth and sharing,efficiency and equity are eternal themes of human research.Growth and sharing,efficiency and equity are eternal themes of human research.The Outline of the 14 th Five-Year Plan for National Economic and Social Development and Vision 2035 calls for optimising the structure of income distribution,insisting on the basic synchronisation of the growth of residents’ income with economic growth and the increase in labour remuneration with labour productivity,continuously raising the income of low-income groups,expanding middle-income groups,and promoting common prosperity in a more active and dynamic manner.Since the reform and opening up,China’s productivity has developed rapidly and created a miracle of growth,but labour income has failed to rise basically in tandem with economic growth and labour productivity,and the share of labour income in the initial distribution of national income has shown an overall downward trend,with the Gini coefficient running at a high level.How has the logic of capital manifested itself and driven the evolution of labour income shares over the past forty years of reform and opening up? How have the institutional changes of reform and opening up acted on the evolution of the labour income share?Reform and opening up is the only way to achieve high-quality economic development in the new era,and China’s economy must deepen reform and open up to the outside world in order to stimulate new vitality in economic development with deeper reform and cultivate new advantages in economic development with a high level of opening up to the outside world.The research and positive responses to the aforementioned issues are conducive to summarising historical experience and providing a reference basis for promoting high-quality economic development.Domestic academics have long focused on analysing the changes in the outcomes,trends and single-factor effects of labour income shares,and there is a relative lack of research that comprehensively observes and explores the evolution and logic of labour income shares during the reform and opening up.This paper aims to examine more systematically the evolution of labour income shares of industrial enterprises in China’s reform and opening up,driven by the logic of capital,taking into account the institutional changes and structural transformation of the reform and opening up over time,grasping the important points in the reform and opening up,and comprehensively exploring the internal mechanisms and influencing factors of labour income shares in the reform of enterprise ownership and distribution,socialist market-oriented reform and opening up to the outside world.The study explains the evolutionary forces and dynamic processes from the perspective of internal power allocation and rent sharing.On the one hand,based on the modern enterprise theory and imperfect competition theory,the logical framework for the theoretical and empirical application of this paper is constructed from enterprises and market agents,using the database of Chinese industrial enterprises,and taking the labour-management contract and surplus On the other hand,using Marxist analysis,we attempt to propose a specific framework for the evolution of the logic of capital in the reform and opening-up process,so as to explain the underlying logic of the evolution of the labour income share at the level of production relations.The following is the structure and main contents of this paper.Chapter 1,Introduction.It presents the problem,research purpose and significance of this article,forms the research ideas and content framework of the article,forms the research ideas and content framework of the article,systematically grasps the research pulse of the whole article,and explains the innovations and shortcomings of this article.Chapter 2,literature review.After reviewing the literature,we clarify the internal logic of the three key concepts in this article: labour income share,internal power allocation and rent sharing,as well as their respective composition and measurement.Through comparison,borrowing and synthesis,the overall theoretical support and research principles for the empirical study based on the theoretical foundation of Western economics and the analysis of production relations based on Marxist economics are designed.On this basis,the theoretical models and related hypotheses on the evolution of the labour income share after the "invariant theory",as well as the historical trends and stage characteristics of the changes in the labour income share during China’s reform and opening up,are collated,and the determinants and influencing factors of the evolution of the labour income share in the literature are summarised,providing a theoretical basis for the subsequent model setting and empirical research.Chapter 3,Economic models,theories and applications.This chapter establishes and introduces the theoretical setup,proposes the basic model of this paper,analyses the evolutionary framework of the capital logic under the technology paradigm,and proposes a concrete form of the evolution of the capital logic in the reform and opening up-the basic analytical framework of "technologyorganisation-relationship",i.e.the economic The technological paradigm determines the organisational technological paradigm,and the organisational technological paradigm determines the relational technological paradigm(type of ownership,status and interrelationship,distribution and form of products),and constructs an expanded analytical framework for the logic of capital and a transitional framework for the change of the new economic paradigm based on the profound impact of the process of perfecting factor markets and the expansion of global markets brought about by technological expansion on the formation of the technological,organisational and relational paradigms Based on the literature review,the basic model and evolutionary framework,it also proposes an explanatory framework for the allocation of residual power and rent sharing in the light of the institutional changes in the realistic context of corporate ownership reform,market system reform and foreign trade opening,and the digital economy,corresponding to the modern enterprise theory,imperfect competition and rent sharing theory,and foreign trade theory,to pave the way for the later econometric analysis.In Chapter 4,the allocation of power and labour income shares within Chinese industrial enterprises are systematically studied.The enterprise orientation is the entry point for reform.The ownership system with public ownership as the mainstay and multiple ownership systems co-existing and its matching distribution system has led to changes in the organisational and relational forms on which the labourmanagement contract is the basic basis in China.Drawing on the approaches of Weng and Jie(2008),Kumbhaka(2009)and Liu Changgeng(2014),and integrating the perspectives of equity theory,this paper argues that perceived equity is more significant than actual equity,and that self-assessed or recognised ’fair’ income has more academic and practical value than actual fair income,and this chapter expands This chapter expands on the hypothesis of ’fair’ income based on individual worker characteristics and firm characteristics.Based on this,a bilateral stochastic frontier function using data from Chinese industrial enterprises from 1998-2013 finds that both capitalists and workers have control over each other’s surplus,with the upper limit of capitalist control over labour’s surplus exceeding 22%,while the frontier of labour’s control is less than 15%,with the difference between the two exceeding 7%,i.e.the allocation of labour power results in a deviation of workers’ real income from"Using the transcendental logarithm function,we then investigate the dynamic process of the evolution of the labour share and the labour elasticity of substitution,and find that the labour income share of industrial enterprises continues to decrease,the capital income share continues to increase,and the labour substitution ratio decreases from around 60% to less than 5%,implying an increasing trend of capital control.Finally,a brief discussion of central government intervention and the power of the Labour Contract Law to guarantee intra-contractual equity and the protection of rights in the event of possible breach of contract is presented.Chapter 5 examines the evolution of existing market structural features acting on labour income shares through rent-sharing power in the context of imperfectly competitive domestic market conditions.Under the assumption of "fair" income,this chapter suggests that workers consider not only their own individual and firm characteristics,but also market characteristics when considering fair income,and according to the rent-sharing model,labour income is divided into perfectly competitive and imperfectly competitive markets.According to the rent-sharing model,labour income is divided into income in perfect competition and income in imperfect competition,and income in imperfect competition is more obviously influenced by the market.Based on the theory related to imperfect competition,this chapter measures the characteristics of market structure where both product market and labour market linkages are imperfectly competitive using Chinese industrial enterprise data from 1998-2013.Under this characteristic,through the relationship between wages and profits,it is found that wages can share part of profits,but their sharing ability is weak,and further through the analysis of market price mark-up and rent sharing ability,it is found that only in firms with monopoly rent sources,rent sharing capacity is positively correlated with the share of labour income.Finally,a brief discussion of local government intervention in and exacerbation of imperfect competition is presented.Chapter 6,incorporating foreign market conditions,further empirically examines the impact of foreign trade on rent-sharing capacity and hence how it drives the evolution of labour income shares.Has labour really shared in the dividends from the opening up of the economy,where price mark-ups and excess profits for firms have continued to grow? Does foreign trade have an impact on rentsharing capacity directly or through variables such as firm strength,market markups and replacement income? This chapter uses data on Chinese industrial enterprises from 1998-2013 and uses the FGLS method to explore the impact of variables such as foreign trade on rent-sharing capacity.The study finds that foreign trade effectively increases rent-sharing capacity,and that firm size is negatively related to rent-sharing capacity with a coefficient of-0.1401.The coefficient on rent sharing capacity is-0.1161.Price mark-up is indeed negatively correlated with rent sharing capacity,but the coefficient is only-0.0001,indicating that the impact of price mark-up on rent sharing capacity in international markets is negligible,and a side note that the continued increase in excess profits is largely captured by capital.Chapter 7,The logic of capital and income distribution in the digital economy paradigm.In the process of designing the distribution system in China,the emphasis has long been on the distribution based on labour and the pursuit of efficiency and fairness,but there is a process from a preference for efficiency to a gradual drift towards fairness,and the logic of capital has long existed and operated.This chapter analyses the evolutionary manifestations and ’overdrive’ outcomes of the digital capital logic,based on an analytical framework of the transition from the old to the new technological paradigm,and explores the impact of technological,organisational and new relational paradigms on labour income,labour relations and even labour.Chapter 8,Conclusion and discussion.Based on data from Chinese industrial enterprises,the paper finds that capital has a tendency to weaken labour power in the internal power allocation of firms and to persistently weaken labour’s rentsharing capacity in imperfectly competitive markets,while masking excess profit aggregates.The fact that market price mark-ups,firm growth and industry development environment all have a negative impact on labour’s rent-sharing capacity,i.e.weakening behaviour is strengthening,while the fact that market markups are continuing to rise indicates that excess profits are being masked and that the excess profits brought about by factors such as China’s demographic dividend are clearly being eroded.A comprehensive empirical analysis yields a picture of the evolution of labour’s income share: labour’s residual control and claim is Weakened,the excess profits from market monopolies are first divided into a portion of profits before they are shared with workers,and the trade market premiums brought about by the demographic and institutional dividends are eroded by capital,failing to effectively increase workers’ ability and proportion of rent sharing.In response to the above research,this paper discusses the reality and theory,and makes suggestions and recommendations in terms of promoting market competition,transforming the source of excess profits and enhancing the rentsharing capacity of workers in the context of corporate labour contract governance and quality development.The innovations of this paper are mainly manifested in the following aspects.Firstly,the topic of this paper has both academic value and practical significance.At the historical node of forty years of reform and opening up,the comprehensive realization of a moderately prosperous society and the promotion of common prosperity through high-quality development,a framework for the analysis of capital logic guided by Marxist theory is proposed,a benchmark framework for studying the evolution of labour income share in the reform and opening up is constructed,and the evolution of labour income share in the reform and opening up and its inner dynamic mechanism are systematically studied,in order to reflect on and respond to the question of reform and opening up exacerbating The paper also demonstrates that the evolution of labour income shares has certain realistic,phased and temporary outcomes,while linking the allocation of power within enterprises and the ability to share rents in imperfectly competitive markets,which has certain academic value.Secondly,in terms of research methodology,this paper builds a logical framework for theoretical application based on the basic theory of economics.Based on industrial enterprise data,the paper controls for changes in industrial structure,focuses on the impact of institutional change factors,captures the ephemeral nature of reform and opening up,distinguishes between the reform of enterprise ownership from 1982 to the late 1980 s,the rapid construction of socialist product and factor markets starting in 1992,and the evolutionary impact of the accelerated expansion of opening up to the outside world starting in 2001 on labour income shares,and focuses in a sub-focus The evolution of the labour income share during the reform and opening up is depicted.At the same time,the differences in absolute values of the calculation results between different data and different calibres are avoided,and the data and calibres are unified in order to examine their relative changes and make cross-sectional comparisons;the most cutting-edge results in the study of the applicability of production functions-beyond logarithmic production functions,stochastic frontier production functions,etc.-are used for calculations,maximising the scientific nature of the research methodology;expanding the assumptions about the fair income expectations formed by workers based on individual characteristics,firm characteristics and market characteristics,on the basis of which inferences can be drawn about the comparative power of labour-management games and the extent to which income deviates from fairness,expanding the assumption that workers can analyse and assess that fair income at different levels,such as in the labour market,in firms and especially in firms with monopoly sources of rent.The internal distribution of power can be combined with rent-sharing theory.Finally,the paper combines the discussion and analysis of productivity and relations of production through empirical evidence based on Western economic theory and analysis based on Marxist economics. |
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