Abstract: The first major mistake of contemporary China’s political economics study is that it failed to introduce the theory of “Science and technology are the primary productive forces” into the researches of the quantifiable political economics in order to keep pace with the times. The second major mistake is that it failed to scientifically evaluate the rationality and scientificity of the effectiveness of the utility concept; of course, it also failed to introduce the concept of the magnitude of use-value into political economics. The third major mistake is being complacent and conservative, not making progress, theory being seriously divorced from reality; thus China’s study of Marxist political economics is staying at the 19th century level for quite a long time. The two theoretical systems of economics, Marxist political economics and the Western mainstream economics, have many similarities, and serious differences as well, especially serious differences in the values ??and ideals. But they can learn from each other and reach unification. The labor theory of value, the marginal utility theory, the limited demand theory, the scientific and technological progress theory and the transaction cost theory can all be unified in a supply and demand equilibrium model to discuss the relationship between the market price and the trading volume.

Key words: labor theory of value; marginal utility theory; unity and integration