Introduction

Classical economics asserts that wealth isFactors Of ProductionThe function.Land、Labor、Capital——The combination of the three forms the growth code of the industrial age. Marx was more profound than classical economists. He did not just list the elements, but also questioned: where are these elements locatedSocial RelationsThe combination below? Who controls the elements? How the combination of elements reshapes societyPower Structure？

Smart CapitalTranslate Into EnglishData、AlgorithmAndBlockchainForcefully stuffing the list of elements. However, the questioning method of Marxism should be: what have these three new things changed and what have they not changed?DataDoes becoming a factor mean the ubiquity or monopolization of the means of production?AlgorithmDoes becoming a productive force mean the liberation or alienation of human intelligence?BlockchainDoes becoming an institutional infrastructure mean decentralization of trust or decentralization of power?

Laozi says:“The Tao gives birth to one, one life gives birth to two, two gives birth to three, and three gives birth to all things”The three elements of the digital age are similar“The three begets all things of creation.”Contemporary interpretation. But“The Way”Always fundamental - in the digital economy, “The WayExactly.Carbon Based PeopleCreative practice. Without this cornerstone, elements are ultimately dead, unable to generate 'all things', let alone create true thingsValue。

1、 The dilemma of data: the most valuable resource, the most ambiguous attribution

1.1 Economic Challenges in Defining Property Rights: From the Metaphor of "Oil" to the Paradox of Public Goods

DataKnown as the 'oil of the new era'. However, this metaphor is misleading: the less oil is used, the less it is,DataBut the more it is used, the more it is used; Clear petroleum property rights,DataThe attribution is extremely vague.DataHaving A TypicalNon-exclusiveAndNon-competitiveMake it appear in the eyes of economists“Public GoodsThe characteristics of public goods lead to“Tragedy of the commons”With“Hitchhike”Frequent occurrences lead to market failures. the WestProperty EconomicsThe Founder OfRonald CoaseIt has already been pointed out, clearlyProperty RightsIt is a prerequisite for market transactions. currentData Element MarketThe root of 'loud thunder, small raindrops' lies inData Property RightsThe definition is much more complex than traditional elements, and transaction costs are high.

1.2 The logic of ownership of means of production: a re examination from a Marxist perspective

FromMarxist Political EconomyViewing from a perspective, this is a classic“Ownership of production materials”Problem. Marx pointed out in his analysis of capitalism that,Means Of ProductionThe private ownership of land, machinery, and factories by capitalists is a prerequisite for the exploitation of the working class. InDigital Intelligence Era，DataEvolving into the most coreMeans Of ProductionHowever, its ownership status is worrying. Platform giants collect massive users for freeDataTransform it into exclusive corporate assets, andDataThe true producers - billionsCarbon Based People——However, during this process, the remaining claim rights were deprived.This is not simply 'unclear property rights', butData Production MaterialsPossession AndProducerThe serious separation is a new manifestation of labor capital confrontation in the digital age.

1.3 Balance of Righteousness and Benefit: Modern Implications for Traditional Chinese Economic Ethics

Traditional Chinese Culture“Benefit”With“Righteousness”The dialectical relationship has profound thinking. The Analects of Confucius states:“The gentleman knows what is right; the mean person keeps his mind only on gains”This statement is not a denial“Benefit”Instead, it emphasizes“Benefit”Must be subjected to“Righteousness”Regulation. InDigital Intelligence Era，“Righteousness”The ruler is:Data ProducerHave the right to shareDataThe dividends created,Data ElementThe configuration cannot only obeyCapital LogicMore importantly, it must be compatibleSocial EquityAccording to "Guanzi: Herdsmen":“A granary actually knows etiquette, but having enough food and clothing reveals honor and disgrace”IfDigital Intelligence EraOfGrain Storage”Lack of (surge in data wealth)“Zhili FestivalOfDistributive JusticeAs a support, it will inevitably bury hidden dangers of social conflicts.

2、 The Magic of Intelligent Capital: Turning Dead Data into Living Productivity

2.1 From Static Recording to Dynamic Prediction: The Value Activation Mechanism of Algorithms

Intelligent CapitalSolvedDataThe 'active' problem. lackIntelligent CapitalInvolved InDataOnly static and passive historical records can reflect 'what happened in the past'. ButAlgorithmThe Intervention GrantedDataLife. By analyzing massive amountsDataDeep learning,AlgorithmAbility to perceive patterns, predict trends, and make independent decisions. what's more,Intelligent CapitalBreaking through traditional elements“Consume”Logic has been established“Circular value-added”The new paradigm:DataThe more you use, the more,ModelThe stronger the use,ValueThe more you use it, the bigger it gets. the WestComplex EconomicsRepresentative FigureBrian ArthurProposed“Increasing Returns”Theory provides powerful analytical tools for analyzing this phenomenon, but its theoretical blind spot lies in the failure to answer“For whom is proliferation”This fundamental issue of social distribution.

2.2 Contemporary incarnation of general intelligence: a qualitative leap in productivity

FromMarxismFrom a perspective,Intelligent CapitalThe Essence IsProductivityA qualitative leap. Marx proposed in the Outline of Critique of Political Economy“General Intelligence”The category of General Intellect - the accumulation of scientific knowledge and social intelligence - once“Reification”In the machine system, it is transformed into powerful direct productivity. InDigital Intelligence Era，“General Intelligence”Found the ultimate carrier——Intelligent CapitalHowever, Marx also warned us:ProductivityIt is inherently neutral, in what way is itRelations Of ProductionThe downward movement determines its ultimate social consequences. If the magic of technology lacks institutional support, it is highly susceptible to becoming a tool for capital plunder.

2.3 Virtue of Life: The Origin Status of Carbon Based Human Practice

The Book of Changes "contains:“Poverty leads to change, change leads to communication, and the general rule lasts for a long time。”Digital Intelligence EconomyIt is precisely at the bottleneck of traditional productivity that“Poor”Later on“Change”It has brought about the development of productivity“ThroughBut desire“Long”Must be relied uponProductivityAndRelations Of ProductionCoordination. The Book of Documents, Zhou Guan, states:“Diligence is the key to success, diligence is the key to success。”Digital ProductivityThe towering building, ultimately built on billions of dollarsCarbon Based PeopleOfAmbition”With“Diligent”Above——DataYesCarbon Based PeopleThe digital sedimentation of behavior,AlgorithmYesCarbon Based PeopleThe coded expression of wisdom. Stripping away human practice, the so-called 'magic' is nothing but a mirage.

3、 The solution of blockchain: can technology solve institutional problems?

3.1 Technological substitution system: a new exploration of governance structure

Intelligent CapitalActivatedDataBut FragmentedDataAn orderly market circulation is still needed.BlockchainThe proposed solution is to replace institutions with technology and laws with code.Ownership Confirmation、Trace to the source、Transaction——Full process on chain, automated execution. Nobel laureate in economicsOliver Williamson Proposed“Asset Specificity”With“Governance Structure”Theory, inBlockchainNew interpretation space has been obtained in the context - distributed ledger technology provides a completely new wayGovernance StructureSignificantly reducing the trading risk of specialized assets andTransaction Cost。

3.2 Power Behind Code: A Critique of Marxist Political Economy

FromMarxist Political EconomyFrom a perspective, this raises a fundamental question:TechnologyCan SolveSystemIs there a problem? Marx repeatedly argued in Capital that:Relations Of ProductionIt is not determined unilaterally by technology, but by societyPower RelationShaped.BlockchainAlthough it is possible to record 'who owns what' through cryptographic meansCodeWho wrote it themselves?Consensus MechanismWho set it up?Modify PermissionsWho controls it? When rules are solidified intoSmart ContractOn the surface, apart from "arbitrary human intervention," the power to formulate rules was actually transferred to the early onesCode DeveloperMasteringComputing PowerOrTokenThe elite class. In“Decentralization”Under the surface, there is a new center（Computing Power Center、Code Center、Capital Center）It is quietly forming.

3.3 Distinguishing the Way: Dialectical Analysis of Technical Tools and Value Rationality

In traditional Chinese culture“Distinguishing Dao Qi”This provides a deeper dimension for thinking. The Book of Changes - Xici states:“The metaphysical is called the Tao, and the material is called the vessel。”BlockchainUndoubtedly belongs to“Device”Category - an advanced technological tool. However, “Device”Ultimately, it cannot be replaced“The Way”。“The Way”Related toValue JudgmentAndInstitutional Choice。BlockchainCan be carried out technicallyOwnership ConfirmationBut“Power”The fairness of society depends on the consensus of fairness and justice;BlockchainCan be executed automaticallyTransactionBut“Transaction”The fairness depends on the top-level institutional design. The Book of Rites and the Book of Rites depicts the“When the great way is followed, all under heaven will be equal”The core concept lies in“Public”This fundamental value.BlockchainWaiting for technical means is only to achieve“Public”The tool, rather than“Public”In itself.

Conclusion

Smart CapitalThe Three Elements——Data、Intelligent Capital、Blockchain——It's not a simple parallel relationship, but a deep oneNested Models ：DataIt's raw material,Intelligent CapitalIt's a processing factory,BlockchainIt's a trading rule. However, Marxist analysis cannot stop at the technical surface, it must penetrate the fog and question the essence: who possesses itDataWho ControlsIntelligent CapitalWho formulates on chain rules?

WithThe soul of horse studies——Focus onOwnership of production materialsAndRelations Of ProductionAnalysis - Digging deep into the factors behind reconstructionPower StructureBorrowThe Application of Western Learning——ApplicationProperty EconomicsAndTransaction Cost Theory——Elaborate on the efficiency boundary of element configuration; remitThe 'Body' of Middle School——Adhere to“Distinguishing Dao Qi”With“Balance of righteousness and benefit”- Firmly establishedCarbon Based PeopleThe dominant position of technological elements. Only in this way can we build a system that is both efficient and fairNumerical Intelligence Element TheoryGuide the steady and far-reaching development of technological civilization.