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Profit and Accumulation are two Categories

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  • Liang Wensen

Abstract

The "gang of four" blurred the distinction between socialist profit and the practice of "putting profits in command," causing great confusion in theory and ideology. As one of the negative results, people evade the term profit but use the term accumulation as a substitute for it. As a matter of fact, the substitution of accumulation for profit is neither scientific nor correct. It may cover up the gains and losses of an enterprise and is therefore detrimental to economic accounting. In light of this, it is necessary to discuss the distinction and relationship between these two categories.

Suggested Citation

  • Liang Wensen, 1979. "Profit and Accumulation are two Categories," Chinese Economy, Taylor & Francis Journals, vol. 13(1), pages 5-11, October.
    • Handle: RePEc:mes:chinec:v:13:y:1979:i:1:p:5-11
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