To celebrate the 30th anniversary of the publication of Mathematical Foundation of Economics: Principle of Optimal Allocation written by Mr. Mao Yushi, the Unirule Institute of Economics organized a seminar in Beijing Schonbrunn Hotel on September 21st, 2012. Hundreds of economists, jurists and entrepreneurs from all over the country attend the conference. Very known economists such as Prof. Zhou Qiren, Prof. Zhang Weiying, Prof. Deng Zhenglai, Prof. Song Guoqing, Prof. Shi Xiaomin, Prof. Lu Feng，Prof. Tang Min, Prof. Yang Ruilong, Prof. Wei Sen, Prof.Mao Shoulong, Ms. Zuo Xiaolei, Mr. Ren Zhiqiang, Mr. Guo Zilin, Prof. Wang Guoxiang, Mr. Yao Zhongqiu , Prof.Zhang Shuguang, Prof. Sheng Hong, Prof. Feng Xinyuan , Prof. Zhao Nong  also take part to the conference. They had discussion on “Mathematical Foundation of Economics: Principle of Optimal Allocation by Mr. Mao Yushi”, “their other academic thoughts and policy ideas and “the Chinese economics review and outlook” in the conference.

The conference was divided into two sections. The first one, hold in the morning, mainly focused on Mathematical Foundation of Economics: Principle of Optimal Allocation. And the second part, hold in the afternoon, was about “Chinese economics review and outlook”. At that part, discussions were mostly organized around questions as “why is there no school of thought in China”, “what are the peculiar and precious experiences accumulated in China’s economic development” and “how will be China economic development in the future  ”, etc.

The conference started with the opening remarks given by Prof. Sheng Hong, director of the academic Committee of Unirule! Then, Prof Mao Yushi made a speech on his own writing, after expressing his warms thanks to the participants. During his speech, he presented the theory basis, basic framework and the research process of his book named: “Mathematical Foundation of Economics: Principle of Optimal Allocation.” Besides, Prof. Mao Yushi also talk about the key point of creating wealth by exchange or trading, and expressed his position against the 18 million “mu” red-line. A “mu” is a traditional unit of area (1 mu=0.0667 hectares)

All of the scholars discussed on Mathematical Foundation of Economics: Principle of Optimal Allocation drastically and had a deep respect for Prof. Mao Yushi and his viewpoints. They   regarded his book as a Mathematical Economics monograph full with innovations. Prof. Mao Yushi’s book underlines the main principle of microeconomics which can guide us to analyze the transition to planned economy to a socialist market economy.Besides, outstanding contributions of the book in popularizing the knowledge of market economy and promoting market economy reform were affirmed by the participants. Some of the participants also expressed their point of view about the trading aspects such as: “trading creates wealth”, “trading coordinates the division of tasks”, and “the link between trading and evolution”Others pointed out the fact that that book includes some Austrian schools of economics thoughts, which are very poorly known such as the thought of Market process, entrepreneur spirit and error correction.