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The author critically analyzes the "paradigm dispute" between Marxist economics and Western economics, emphasizes the institutional attributes of commodity economy and market economy from the perspective of production relations, and criticizes the "Cosism" in Western economics and market reforms. It defends the classic Marxist economic theories such as labor theory of value, wage theory, and crisis theory, and clarifies the "transformation problem". The author proposes the theoretical and practical problems of China's economic development in the new era. The organic unity of the economy and politics of the socialist countries, and the development of the socialist economy in accordance with the laws and objectives are inseparable from the leadership of economic work.