Moseley’s interpretation establishes the internal coherence of Marx’s theory, thereby creating a more solid basis for its further development on our own, Marxist, terms. Stated differently, there is no need to import unrealistic, abstract-ideal concepts from other economic theories in an attempt to “modernize” Marxist economics.
Author Archive | Paul Burkett
1. The year 2007 marks the 140th anniversary of the publication of the first volume of Marx’s Capital. In your perspective, what is the main contribution of that major work to the understanding of contemporary capitalism? Marx’s Capital establishes three essential contradictions of capitalism which grow in intensity as the system develops historically. These contradictions […]
Imports into the U.S. keep rising and the merchandise trade deficit keeps growing. Manufacturing jobs continue to disappear and wages and working conditions continue to worsen. Increasingly, those who seek to explain these trends point to China. It is true that China has become an export powerhouse, and the United States its main market. China […]