Engels has been studying the issue of competition since his youth. He pointed out that under the condition of commodity economy, competition is an unstoppable torrent. The essence of competition is the relationship between consumption and productivity. The integration of the law of competition and the law of value is mandatory. It not only affects goods supply and demand, facilitates monopoly, but also causes economic crisis and even social revolution. China will be in the primary stage of socialism for a long time, and competition will accordingly stay long. In this circumstance, it is necessary to study and apply Engels’theory of competition. There is a significant difference between socialist commodity economy and capitalist commodity economy. The former is the most superior economic form in the world. We should give full play to the positive role of competition in accordance with the requirements by the Fourth Plenary Session of the 19th CPC Central Committee, complementing the“invisible hand”and the“visible hand”in China’s socialist market economy, and taking a strong supportive role in achieving“Two Centenary Goals”.

Editor: Zhong Yao

Studies On Mao Zedong and Deng Xiaoping Theories.2020.No.1.