The Income Effect of Minimum Wage for the Underclass: Is It Positive in China?

The ongoing debates on the impact of minimum wage have largely focused on the policy's employment effect for its theoretical implications, but the real question at stake here is its income effect, that is, whether or not it can increase the income of the underclass. Previous efforts have mostly relied on various forms of market imperfection to verify the theoretical integrity of this policy, whereas in this article we have raised another Marxian perspective, emphasizing the positive check of minimum wage on overtime work. Classical economists have long recognized the vulnerability of the working class when faced against capitalists, but only Marx has paid special attention to the complicated interaction between hourly/unit wage rates and the length of the working day, proposing that low wage rates would not only hurt workers by forcing them to work overtime, but that it would also hurt the capitalists as a class once large-scale labor degradation kicks in, endangering the very existence of a well-functioning working class for them to employ. Both the inherent conflict of interests between individual capitalists and capitalists as a class and workers' systematic disadvantage against capital serve to call for the intervention of a “visible hand” which is the establishment of a minimum wage. A theoretical model has been proposed to formalize this wage-hour mechanism for the underclass, emphasizing the special constraints they face when making labor supply decisions. We have discussed three different types of income effect, explaining how workers' income might increase with minimum wage and how firms might also benefit from such a process

China’s Miracle: From the Perspective of Political Economy

We construct a framework for the interaction between economic system reform and the technological-economic system in order to analyze the dynamic process of China’s economic transformation and development. China has passed through three major phases of economic system reform, which have involved reforming the commodity economy through planning, establishing the socialist market economic system, and improving the socialist market economic system. Correspondingly, China has gone through three technological-economic systems, which may be summed up as: “quantitative subsistence consumption and extensive production without technological progress,” “qualitative subsistence consumption and extensive production with technological progress,” and “standardized mass consumption and mass production.” Since 2012, China’s economy has entered the era of a “new normal,” characterized by lower growth rates. This indicates a fundamental shift in the patterns of social demand away from the current technological-economic system that is growing incapable of sustaining rapid capital accumulation and thus needs transforming. To better explain China’s miracle, we focus on the ways in which the contradictions within each technological-economic system have evolved and have been resolved through targeted reforms to the economic system. Eventually, these reforms will lead to a new system that facilitates further capital accumulation

Complete genome sequence of biocontrol strain Bacillus velezensis YC89 and its biocontrol potential against sugarcane red rot

IntroductionSugarcane is one of the most important sugar crops worldwide, however, sugarcane production is seriously limited by sugarcane red rot, a soil-borne disease caused by Colletotrichum falcatum. Bacillus velezensis YC89 was isolated from sugarcane leaves and can significantly inhibited red rot disease caused by C. falcatum.MethodsIn this study, the genome of YC89 strain was sequenced, its genome structure and function were analyzed using various bioinformatics software, and its genome was compared with those of other homologous strains. In addition, the effectiveness of YC89 against sugarcane red rot and the evaluation of sugarcane plant growth promotion were also investigated by pot experiments.ResultsHere, we present the complete genome sequence of YC89, which consists of a 3.95 Mb circular chromosome with an average GC content of 46.62%. The phylogenetic tree indicated that YC89 is closely related to B. velezensis GS-1. Comparative genome analysis of YC89 with other published strains (B. velezensis FZB42, B. velezensis CC09, B. velezensis SQR9, B. velezensis GS-1, and B. amyloliquefaciens DSM7) revealed that the strains had a part common coding sequences (CDS) in whereas 42 coding were unique of strain YC89. Whole-genome sequencing revealed 547 carbohydrate-active enzymes and identified 12 gene clusters encoding secondary metabolites. Additionally, functional analysis of the genome revealed numerous gene/gene clusters involved in plant growth promotion, antibiotic resistance, and resistance inducer synthesis. In vitro pot tests indicated that YC89 strain controlled sugarcane red rot and promoted the growth of sugarcane plants. Additionally, it increased the activity of enzymes involved in plant defense, such as superoxide dismutase, peroxidase, polyphenol oxidase, chitinase, and β-1,3-glucanase.DiscussionThese findings will be helpful for further studies on the mechanisms of plant growth promotion and biocontrol by B. velezensis and provide an effective strategy for controlling red rot in sugarcane plants

ALS mutations in FUS cause neuronal dysfunction and death in Caenorhabditis elegans by a dominant gain-of-function mechanism.

It is unclear whether mutations in fused in sarcoma (FUS) cause familial amyotrophic lateral sclerosis via a loss-of-function effect due to titrating FUS from the nucleus or a gain-of-function effect from cytoplasmic overabundance. To investigate this question, we generated a series of independent Caenorhabditis elegans lines expressing mutant or wild-type (WT) human FUS. We show that mutant FUS, but not WT-FUS, causes cytoplasmic mislocalization associated with progressive motor dysfunction and reduced lifespan. The severity of the mutant phenotype in C. elegans was directly correlated with the severity of the illness caused by the same mutation in humans, arguing that this model closely replicates key features of the human illness. Importantly, the mutant phenotype could not be rescued by overexpression of WT-FUS, even though WT-FUS had physiological intracellular localization, and was not recruited to the cytoplasmic mutant FUS aggregates. Our data suggest that FUS mutants cause neuronal dysfunction by a dominant gain-of-function effect related either to neurotoxic aggregates of mutant FUS in the cytoplasm or to dysfunction in its RNA-binding functions

Meta-analysis Followed by Replication Identifies Loci in or near CDKN1B, TET3, CD80, DRAM1, and ARID5B as Associated with Systemic Lupus Erythematosus in Asians

Systemic lupus erythematosus (SLE) is a prototype autoimmune disease with a strong genetic involvement and ethnic differences. Susceptibility genes identified so far only explain a small portion of the genetic heritability of SLE, suggesting that many more loci are yet to be uncovered for this disease. In this study, we performed a meta-analysis of genome-wide association studies on SLE in Chinese Han populations and followed up the findings by replication in four additional Asian cohorts with a total of 5,365 cases and 10,054 corresponding controls. We identified genetic variants in or near CDKN1B, TET3, CD80, DRAM1, and ARID5B as associated with the disease. These findings point to potential roles of cell-cycle regulation, autophagy, and DNA demethylation in SLE pathogenesis. For the region involving TET3 and that involving CDKN1B, multiple independent SNPs were identified, highlighting a phenomenon that might partially explain the missing heritability of complex diseases

Productivity Improvement from the Mixed-Ownership Reform: A Financial Frictions Perspective

How to raise productivity level has become the core issue of ensuring China’s sustained Economic Growth in the Future. The mixed-ownership has both the financing advantage of the SOEs and the competitive ability of the Private firms, which can improve the governance of the firms. This paper builds a model based on the financial frictions literature, and studies the process of the mixed-ownership reform. The main results include: 1. On average, the mixed-ownership reform enhances the performance of the firms; 2. The relationship between the share of state ownership—full privatization, state-ownership, or mixed-ownership—and the performance depends on both the productivity and the restriction of financing; 3. When production efficiency is low, privatization works best; when production efficiency is medium, partial privatization works best; when production efficiency is high, nationalization works best; 4. Our model explain the puzzle of state-owned equity ratio and performance