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Rent, interest and wages: being a criticism of Karl Marx and a statement of economic theory

Webb, Sidney (1886) Rent, interest and wages: being a criticism of Karl Marx and a statement of economic theory. Other. The Author. (Unpublished)

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"The first necessity for a due appreciation of Marx's work is a proper understanding of his point of view and method. To acquire such an understanding it is perhaps not too much to say that we should ignore all his professions and explanations on the subject, and pass resolutely over all his definitions. The mental twist - dare we call it affection? - which constantly led him to enshrine his acute remarks in esoteric and philosophical terminology, or obscure philosophical arrangement, only darkens counsel, and we quickly discover that he has no special means of discovering truth, but only a Teutonic capacity for over-subtle analysis." ... "The peculiarity of the Marx theory is the determined exclusion of every fragment of scarcity value from the normal case, whereas it may plausibly be argued that the factor of possible scarcity does enter into every conceivable exchange." - Webb quoted in Harrison (1999) p. 31. Harrison continues: "This left the problem of furnishing some alternative to the Marxist account of the distribution of income and of cyclical crises. By extending the Ricardian theory of rent, and through a special application of the Jevonian marginalist analysis, Sidney began to try and offer a new socialist account of exploitation.

Item Type: Monograph (Other)
Additional Information: LSE Archives. Passfiled Collection. Manuscript. Folios 1-123. Harrison, Royden (1999) The life and times of Sidney and Beatrice Webb - see link.
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HX Socialism. Communism. Anarchism
Date Deposited: 10 May 2017 13:49
Last Modified: 10 May 2017 13:49

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