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The economic function of the middle class

Webb, Sidney (1884) The economic function of the middle class. Church reformer : an organ of Christian socialism and church reform, 3.

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Abstract

"... Webb recognised that Marx was a man of great learning and acute intelligence. He had set the cat among the pigeons by pointing up the failure of orthodox economists to give an adequate account of profits or of the natural laws that regulated the distribution of income among the several classes. Early in 1884 he [Webb] fount that: "the chief value of the book of Karl Marx is the very plain account of the exploitation of labour. There is, however, nothing new in the explanation except the point of view, although this, perhaps, makes all the difference ... he utterly and repeatedly smashes, pulverises and destroys the absurd idea that money breeds money, or that capital or machinery produce anything: an idea however that is widely current ... Marx pursues this subject with great ability and has some instructive chapters on the rate and progress of exploitation."" - Harrison (1999) p.29-30.

Item Type: Article
Additional Information: A lecture "first given to the London Dialectical Society, 2 April 1884, and published in the Church Reformer, 16 June 1884, with slight variations in form." - Harrison, Royden (1999) The life and times of Sidney and Beatrice Webb, p.354 - see webbs.library.lse.ac.uk link.
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HT Communities. Classes. Races
H Social Sciences > HX Socialism. Communism. Anarchism
Date Deposited: 10 May 2017 14:21
Last Modified: 10 May 2017 14:24
URI: http://webbs.library.lse.ac.uk/id/eprint/892

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