By Ben Fine, Alfredo Saad-Filho
This brilliantly concise ebook is a vintage advent to Marx’s key paintings, Capital. In print now for over 1 / 4 of a century, and formerly translated into many languages, the recent variation has been absolutely revised and up-to-date, making it an amazing sleek creation to 1 of an important texts in political economy.
The authors conceal all vital points of Marx’s economics. They clarify the constitution of Marx’s research and the which means of the most important different types in Capital, exhibiting the inner coherence of Marx’s process. Marx’s procedure and terminology are explored intimately, with helping examples. brief chapters permit the which means and value of Marx’s major recommendations to be grasped quickly, making it a pragmatic textual content for all scholars of social science.
Discussing Capital’s relevance at the present time, the authors think of Marx’s impression on economics, philosophy, heritage, politics and different social sciences. holding summary theorising to a minimal, this readable creation highlights the ongoing relevance of Marx’s principles within the mild of the issues of latest capitalism
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Extra resources for Marx's capital
It is not abstinence that creates capital, but capital that requires abstinence. Waiting has existed in all societies; it is even to be found among squirrels without their earning any profits. Similar conclusions apply to viewing risk as a source of profit. It must always be borne in mind that it is not things, abstract or otherwise, that create economic categories, for example profits or wages, but definite social relations between people. Marginal productivity theories at the heart of mainstream economics explain the increase in value between C and M' by the technically (or physically) determined contributions of labour and capital goods to output.
It must always be borne in mind that it is not things, abstract or otherwise, that create economic categories, for example profits or wages, but definite social relations between people. Marginal productivity theories at the heart of mainstream economics explain the increase in value between C and M' by the technically (or physically) determined contributions of labour and capital goods to output. Such an approach can have no social content, and it offers no specific insight into the nature of labour and ‘capital’ when attached to Capital and Exploitation Fine 01 chaps 33 33 19/05/2010 10:45 capitalism.
This is because, for Marx, it is axiomatic that throughout history people have lived by their labour: if everyone stopped working, society as we know it could not survive beyond a few days. Further, in all but the simplest societies, some have always lived without working, by the Commodity Production Fine 01 chaps 15 15 19/05/2010 10:45 labour of others. However, this appropriation of one person’s labour (or its products) by another takes different forms and is justified in different ways in different societies.
Marx's capital by Ben Fine, Alfredo Saad-Filho