Formation Of The Economic Thought Of Karl Marx

A clear and compact guide to Marx’s road to Das Kapital Ernest Mandel traces the development of Marx’s economic ideas from the Economic and Philosophical Manuscripts to the completion of the Grundrisse. In a series of crystalline chapters, he provides an overview of subjects central to Marxist economic theory. Mandel focuses on Marx’s concept of alienation, which gained much currency among Marxists in the twentieth century, and traces the development of debates surrounding the labour theory of value, and Marx’s writings on communism and “crisis.” These discussions remain pertinent today, and these texts vital to all those who wish to interpret and to change the world.

In this book, Mandel discusses the development of Marx's economic ideas from their beginnings to the completion of the Grundrisse. He combines a historical retrospective and a review of current discussions on each of the subjects and problems central to Marxist economic theory. He traces the development of the concept of "alienation" in Marx, and its fate in the hands of succeeding generations, down to the present discussion in East and West Europe, summarizes the fascinating debates over the "Asiatic mode of production," and discusses labor theory of value, the problem of periodic crises, the theory of wages and the polarization of wealth and poverty, and the problem of progressive "disalienation" through the building of socialist society.

This book presents the capitalist system as a function of the interaction of the three basic classes in the capitalist social formation. Through this, it shows how the corresponding conflicts and clashes of interests between those classes – industrial capitalists, wage labourers and landed proprietors – are unavoidable for understanding contemporary economic structures. Analysing these economic structures in relation to the forms of property ownership, as well as the typical processes of production connected with them, the author points out how Karl Marx’s theory of the capitalist social formation is closely connected with the emergence and existence of a national money market. At the same time, the book places a special emphasis on Marx’s theory of ground rent and modern landed property, an aspect misinterpreted by many authors; and through an evaluation of the most important Marxian categories regarding the analysis of the world market and its development, further emphasis is placed on the concept of differences in labour intensity between nations. This evaluation illustrates how the main categories of capital, wage labour and landed property acquire a completely different internal relation in poor countries compared to Western capitalist societies. Class and Property in Marx's Economic Thought aims at exposing a method for analysing contemporary capitalism through focusing on the basic relations of population groups in the capitalist social formation. It will be of interest to students and researchers within the field of economics, as well as other social sciences.

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