By George Catephores (auth.)
This textual content offers an simple exposition of the elemental ideas of Marxist economics from the principal principles of Marx himself during the reassessments made by way of next Marxian economists. The paintings is aimed toward scholars of Marxist reports and similar courses.
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Additional resources for An Introduction to Marxist Economics
What kind of a market economy? An attempt to answer this question, and in so doing to provide the definition sought, will be made in two stages. Simple commodity production, a mode of production similar to capitalism in its total dependence on a market economy, will be defined first in its main aspects. Capitalism will, then, be introduced by the expedient of replacing two of the crucial characteristics of simple commodity production with two different ones, while leaving all others intact. Apart from the purely aesthetic advantage of elegance and economy of thought, this procedure achieves certain important results of substance.
Exclusion of all extra-individual authority covers even impersonal authority like that of tradition, of pre-established social patterns of preference, of adherence to some fixed ideal type of society and also to any pre-established order deriving from a comprehensive social plan of production, if a plan were possible. Division of labour is not pre-arranged but entirely spontaneous. To use one striking formulation of Marx, anarchy of production prevails. The growth of the forces of production 21 (b) There are no artificial monopolies, or none that can be sustained in the long run.
Robert Nozick, one of the most convinced contemporary defenders of capitalist institutions, has rationalised the entitlement of the capitalist on the product in the following remark: 3 Whoever makes something, having bought or contracted for all other held resources (transferring some of his holdings for these cooperating factors) is entitled to it. This rule, setting the 'making' of something as the principle of justice of original acquisition, involve a certain difficulty when among 'other-held' resources which the capitalist buys the capacity itself to make things is included.