Stalin’s Thoughts on the Basic Economic Law of Socialism

In February 1952, Stalin clearly stated the basic economic law of socialism in Economic Problems of Socialism in the U.S.S.R.. Moreover, in “Reply to Comrade Alexander Ilyich Notkin” and “On the Errors of Comrade L.D. Yaroshenko”, Stalin made further additions to it.

Firstly, according to Stalin, there is only one basic economic law of socialism, and it cannot be several or more. This basic law is what determines all the most important aspects of the development of production and permeates the whole process of the development of socialist production. Stalin discussed the question of the nature of the basic economic law of socialism and pointed out that under the socialist system, the basic economic law of socialism has an objective character, and it is the reflection in people’s minds of objective regularities that exist outside of man.

Secondly, Stalin clearly pointed out the main features and requirements of the basic economic law of socialism. He expressed the basic economic law of socialism as “the securing of the maximum satisfaction of the constantly rising material and cultural requirements of the whole of society by the continuous expansion and perfection of socialist production on the basis of higher techniques.” Stalin pointed out that the basic economic law of socialism consists of two aspects: the aim of socialist production and the means of socialist production. Securing the maximum satisfaction of the constantly rising material and cultural needs of the whole society is the aim of socialist production, and continuous expansion and perfection of socialist production on the basis of higher techniques is the means for the achievement of the aim. The subordination of socialist production to its main purpose is the essential expression of the basic economic law of socialism. The aim of socialist production and the means to achieve it are united, and the sole purpose of the development of high technology is to secure socialist production and to satisfy the material and cultural requirements of the people.

Thirdly, Stalin further elaborated the significance and role of understanding and applying the basic economic law of socialism. He stated that the fundamental economic law of socialism plays a leading role in the economic development of society, not in securing maximum profit, but in securing maximum satisfaction of the material and cultural needs of the people. Rather than the intermittent development of production accompanied by economic crisis and destruction of productive forces, it aims the continuous improvement of production on the basis of high technology. The planning of the national economy and the proportional relations in its development will achieve good results and full development if they reflect the basic economic law of socialism in all respects and are based on the requirements of the basic economic law of socialism.

Stalin’s assertion that the basic economic law of socialism is the law that exists and operates in the socialist period, has enriched the economic theory of Marxism and is of great significance to the understanding of the economic laws of socialism.