Eugen Von Böhm-Bawerk, economist of the Austrian school, wrote this incisive critique of Marxist economics amid rising public support for socialism, communism and state-controlled markets in Europe. Published in 1896, this work criticizes Marxist theory from two angles: firstly, that the notion of value which Marx puts forward contradict his own ideas. The author asserts that the link between the price of producing goods and the value produced by labor are not consistently dealt with in Marx’s works. This inconsistency in assigning value to economic production leads onto the second critique: Supply and demand is a theory whereby an equilibrium between goods supplied to a market and goods demanded by consumers in said market is established, with changes in the quantity or price of a good being in reaction to demand. Böhm-Bawerk discusses how Marx underestimates this law, and how his lack of appreciation for an economy which flexibly meets the shifting demands of consumers undermines his notions of price and value. From the perspective of a free market capitalist, Marxist theory is inadequate and insufficient as a system of economics.
Karl Marx and the Close of His System – Eugen von Böhm-Bawerk
Comparte
Facebook
Twitter
Pinterest
Café y Letras
Lo Más Leído
Libros destacados de Paul Auster
mayo 2, 2024
Reseña: Los aerostatos de Amélie Nothomb
abril 29, 2024
Resumen “El Camino” de Miguel Delibes
abril 25, 2024
Categorias
On Key
Related Posts
Reseña de “Gema” de Milena Busquets
Reseña de “Gema” de Milena Busquets Nuestra protagonista es escritora, trabaja de forma puntual como traductora y es madre de dos hijos. Una noche cualquiera
Libros destacados de Paul Auster
Hoy despertamos con la triste noticia, Paul Auster nos ha dejado. A modo de homenaje os hablo sobre sus obras más destacadas. Paul Auster ha
Reseña: Los aerostatos de Amélie Nothomb
Reseña: Los aerostatos de Amélie Nothomb «Los aerostatos» de Amélie Nothomb es una novela que se sumerge en la complejidad de las relaciones humanas a
Resumen “El Camino” de Miguel Delibes
Resumen “El Camino” de Miguel Delibes «El Camino», publicado en 1950 por Miguel Delibes, nos habla de la madurez, la amistad y el paso