By Michael Charles Howard, John Edward King
The first quantity of this severe heritage covers the social, political, and theoretical forces in the back of the improvement of Marxian economics from Marx's loss of life in 1883 until eventually 1929, the yr marking the onset of Stalin's "revolution from above," which as a consequence reworked the Soviet Union right into a glossy superpower. in the course of those years, Marxists in either Russia and Germany discovered their fiscal rules inextricably associated with sensible political difficulties, and taken care of conception as a advisor to motion. This e-book systematically examines the real theoretical literature of the interval, together with insightful works by way of political functionaries open air academia--journalists, celebration organizers, underground activists, and lecturers within the hard work movement--presented right here because the fundamental forgers of Marxian financial thought.
Beginning with Engels's writings, this booklet analyzes the paintings of major Marxist economists within the moment foreign, then concludes with a evaluate of the highbrow activities in the Marxian political economic system through the Nineteen Twenties. A moment quantity treating the interval from 1929 to the current will follow.
Originally released in 1989.
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Extra info for A History of Marxian Economics, Volume I: 1883-1929
In all probability, Engels would have Engels and the 'Prize Essay Competition' 37 remained unimpressed. The theory of ideology, initially developed by himself and Marx in the 1840s, allowed no role for 'vulgar economists' to contribute to the development of political economy as a science. Not until Paul Sweezy's rehabilitation of Bortkiewicz in 1942 did Marxists permit bourgeois academics to interfere with their debates on the transformation problem. 64 This strange affair of the 'Prize Essay Competition' prompts a number of final observations.
3 Engels's published defence of Marx had three components. First, Marx had not read Rodbertus before about 1859, when his own ideas were already fully formed. 4 Second, both men had been anticipated in their ideas on surplus value by the writings of the early British socialists, whom Marx had rescued from obscurity but whose existence was unknown to Rodber tus. 5 Finally, and most important, Marx's analysis was logically superior to that of Rodbertus: •Readers who are relatively unfamiliar with the transformation problem are advised to read Chapter 3 first, and then return to this chapter.
Schmidt begins by dividing gross output into two parts: that needed for production and represented by constant and variable capital, and the surplus product. The crucial problem is to determine the price at which the surplus product is sold. The establishment of an equal rate of profit entails that the price of the surplus product of each capitalist must be proportional to the capital advanced, and must therefore differ from the quantity of labour embodied in it. This. Schmidt maintains, does not contradict the Marxian theory of value.
A History of Marxian Economics, Volume I: 1883-1929 by Michael Charles Howard, John Edward King