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Full Description
Presents an account and technical assessment of Marx's economic analysis in Capital, with particular reference to the transformation and the surplus-value doctrine, the reproduction schemes, the falling real-wage and profit rates, and the trade cycle. The focus is on criticisms that Marx himself might have been expected to face in his day and age. In addition, it offers a chronological study of the evolution of that analysis from the early 1840s through three 'drafts': documents of the late 1840s, the Grundrisse of 1857-1858, and the Economic Manuscripts of 1861-1863. It also provides three studies in application, focusing on Marx's 'evolutionary' orientation in his evaluation of the transition to communism and his rejection of 'egalitarianism' under both capitalist and communist regimes; his evolving perspective on the role of the industrial 'entrepreneur'; and his evolving appreciation of the prospects for welfare reform within capitalism.
Contents
Part I. Capital: Principal Features of the Marxian 'Canon': 1. Value and distribution; 2. Elements of growth theory; 3. Economic growth and the falling real-wage trend; 4. Economic growth and the falling rate of profit; 5. The cyclical dimension; Part II. Origins: Marx in the 1840s: 6. Marx's economics 1843-1845; 7. A 'first draft' of Capital 1847-1849; Part III. A 'Second Draft' of Capital: The Grundrisse 1857-1858: 8. 1857-1858 I: surplus value; 9. On value 'realization'; Part IV. A 'Third Draft' of Capital: The Economic Manuscripts 1861-1863: 10. 1861-1863 I: surplus value - profit, rent, and interest; 11. 1861-1863 II: sectoral analysis, accumulation, and stability; 12. 1861-1863 III: the labor market; Part V. Topics in Application: 13. Economic organization and the equality issue; 14. Is there a Marxian 'entrepreneur'? On the functions of the industrial capitalist; 15. Principles of social reform; Conclusion: a recapitulation and overview.
