Fundamentals of Political Economy

‘Fundamentals of Political Economy’ is a popular introductory economics text published in the People’s Republic of China in 1974 by the Shanghai People’s Press. It has come to be known popularly as the “Shanghai Textbook.” It explains the fundamental principles of Marxist political economy in a very simple and comprehensible manner and presents a thorough analysis of the bourgeois mode of production. And most of all, the thorough investigation of the mode of production of Socialism, the socio-economic formation, the class relations, the base and the superstructure during the period of socialist transition, that Mao presented for the first time,…