Pioneers in economics. 23 :. Sect. 2, The golden age of classical economics. Karl Marx (1818 - 1883)


Book Description

Whether or not we reject the Marxist schema there is little doubt that Marx was a great economist. The three volumes of Capital, contain some pieces of remarkable economic analysis from which modern economists can still learn; however difficult he is to read, there are moments when, like Ricardo and Walras, he can revel in the abstract power of economic reasoning.













Jean-Baptiste Say (1776-1832)


Book Description

Jean-Baptiste Say is almost unread today yet he is famous as the originator of Say's law which later economists, most especially Keynes in the General Theory, have paid so much attention to. Yet, this reputation, based as it is upon the discovery of the concept of the entrepreneur as autonomous from the capitalist as well as the law, is misplaced.




The Socialist Economics of Karl Marx and His Followers


Book Description

The Socialist Economics of Karl Marx and His Followers' was first published in 1906, in the Quarterly Journal of Economics. It's author, Thorstein Veblen, was the son of Norwegian American immigrants. He grew up to become a prominent economist and sociologist, producing many books and articles, and is often remembered for his use evolutionary theory to develop a 20th century theory of economics. We are republishing this work with a brand new introductory biography.










Karl Marx in One Lesson (1818-1883)


Book Description

This booklet, one of a series intended to apply economic principles to major social and political issues of the day, starts from the premise that Marxism is a threat to our way of life and offers a critique of fundamental components of the social movement Marx created. The first of six subsections focuses on sources of influence on Karl Marx (including early French socialists, German classical philosophers, and British classical economic theorists) and presents a general overview of Marx's politics, philosophy, and economics. The following three sections present Marx's economic interpretation of history, his views on social systems and change, and his analysis of the rise and fall of capitalism. The two final sections provide critical comments on the development of Marxism in the United States, and point to the need for Marx's influence in the world to be both understood and defused. (LH)




Capital


Book Description

First published in 1867, Capital, or Das Kapital, is the infamous treatise on economics and capitalism by Prussian revolutionary KARL MARX (1818-1883), who changed history with his 1848 book The Communist Manifesto. In this work, edited by Marx's friend, German philosopher FRIEDRICH ENGELS (1820-1895), Marx systematically analyzes the way the capitalist machine functions. In this academic work written for students and serious thinkers, he explores wages, competition, banking, rent, and the natural laws that seem to govern the development of capitalism without any oversight by the society in which it developed. Originally published in three volumes, Capital is here presented in five volumes. Volume III, Part 1 covers: . The Conversion of Surplus-Value into Profit and of the Rate of Surplus-Value into the Rate of Profit . Conversion of Profit into Average Profit . The Law of the Falling Tendency of the Rate of Profit . Transformation of Commodity-Capital and Money-Capital Into Commercial Capital and Financial Capital . Division of Profit Into Interest and Profits of Enterprise