Studies on supply-side structural reform in current academia mostly follow the concept of traditional economics, overlooking the situation of social affluence. These studies discuss the reform based on production, emphasizing especially on the production upgrading of personal consumptions, neglecting the rise in the public products of supply-side structural reform. This paper sets off from current study situations and elaborates that the essence of supply-side reform is a reform of production with the purpose of executing effective production. Even though current studies on supply-side reform have touched upon problems such as background, essence, access, and notification, they have failed to address the fact that production includes many stages and that the production significant in each stage is different, which is a matter academia has not yet paid enough attention to. Therefore, this paper first explains the essence of supply-side reform, that is, production reform comes from the desire to produce, which in turn affects the production logic. Under the instruction of such production logic, the meaning of production between traditional society and an affluent society is not the same. Next, this paper analyzes that the production meaning of an affluent society induces the strong demand of public products, elaborating that during private consumption reform, the provision of public products should be done in advance. Last, this paper analyzes that, even though the provision of public products beforehand is important, it often misleads the government in wrongly interfering with the economy. Therefore, all relationships and priorities of public products should be clarified. This paper explores supply-side structural reform from the perspective of John Kennedy Galbraith’s
/ Journals / Journal of Shanghai University of Finance and Economics
Journal of Shanghai University of Finance and Economics
LiuYuanchun, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
GuoChanglin YanJinqiang WangWenbin WuWenfang, Vice Editor-in-Chief
Is Supply-Side Structural Reform and Merely a Reform of Private Consumptions? From the Perspective of Galbraith’s The Affluent Society
Journal of Shanghai University of Finance and Economics Vol. 20, Issue 05, pp. 112 - 122 (2018) DOI:10.16538/j.cnki.jsufe.2018.05.009
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Jia Weixiao. Is Supply-Side Structural Reform and Merely a Reform of Private Consumptions? From the Perspective of Galbraith’s The Affluent Society[J]. Journal of Shanghai University of Finance and Economics, 2018, 20(5): 112-122.
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