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A Contribution To The Critique Of Political Economy
_A CONTRIBUTION TO THE CRITIQUE OF POLITICAL ECONOMY_ (German : _Zur Kritik der Politischen Ökonomie_) is a book by Karl Marx , first published in 1859. The book is mainly an analysis of capitalism and quantity theory of money , achieved by critiquing the writings of the leading theoretical exponents of capitalism at that time: these were the political economists , nowadays often referred to as the classical economists ; Adam Smith (1723–90) and David Ricardo (1772–1823) are the foremost representatives of the genre. CONTENTS * 1 Significance * 2 Editions * 3 Notes * 4 References SIGNIFICANCEMuch of the _Critique_ was later incorporated by Marx into his magnum opus, _Capital_ (Volume I) , published in 1867, and the _Critique_ is generally considered to be of secondary importance among Marx's writings. This does not apply, however, to the Preface of the _Critique_
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Karl Marx
KARL MARX (/mɑːrks/ ; German: ; 5 May 1818 – 14 March 1883) was a Prussian-born philosopher , economist , political theorist , sociologist , journalist , and revolutionary socialist . Born in Trier to a middle-class family, he later studied political economy and Hegelian philosophy . As an adult, Marx became stateless and spent much of his life in London, England , where he continued to develop his thought in collaboration with German thinker Friedrich Engels and published various works, the most well-known being the 1848 pamphlet _ The Communist Manifesto _. His work has since influenced subsequent intellectual, economic, and political history
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Political Economy
POLITICAL ECONOMY is a term used for studying production and trade , and their relations with law, custom , and government, as well as with the distribution of national income and wealth . _Political economy_ originated in moral philosophy . It was developed in the 18th century as the study of the economies of states, or _polities _, hence the term _political_ economy. In the late 19th century, the term _economics _ came to replace _political economy_, coinciding with the publication of an influential textbook by Alfred Marshall in 1890
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German Language
_No official regulation_ ( German orthography regulated by the Council for German Orthography )
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Capitalism
CAPITALISM is an economic system and ideology based on private ownership of the means of production and their operation for profit . Characteristics central to capitalism include private property , capital accumulation , wage labor , voluntary exchange , a price system , and competitive markets . In a capitalist market economy , decision-making and investment are determined by the owners of the factors of production in financial and capital markets , and prices and the distribution of goods and services are mainly determined by competition in the market. Economists , political economists , and historians have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include _laissez-faire _ or free market capitalism, welfare capitalism , and state capitalism
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Quantity Theory Of Money
In monetary economics , the QUANTITY THEORY OF MONEY (QTM) states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply . The theory was challenged by Keynesian economics , but updated and reinvigorated by the monetarist school of economics . While mainstream economists agree that the quantity theory holds true in the long run , there is still disagreement about its applicability in the short run . Critics of the theory argue that money velocity is not stable and, in the short-run, prices are sticky , so the direct relationship between money supply and price level does not hold. Alternative theories include the real bills doctrine and the more recent fiscal theory of the price level
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Classical Economics
CLASSICAL ECONOMICS (also known as LIBERAL ECONOMICS) asserts that markets function best with minimal government interference . It was developed in the late 18th and early 19th century by Adam Smith , Jean-Baptiste Say , David Ricardo , Thomas Robert Malthus , and John Stuart Mill . Many writers found Adam Smith's idea of free markets more convincing than the idea, widely accepted at the time, of protectionism . Adam Smith's _ The Wealth of Nations _ in 1776 is usually considered to mark the beginning of classical economics. The fundamental message in Smith's influential book was that the wealth of nations was based not on gold but on trade: That when two parties freely agree to exchange things of value, because both see a profit in the exchange, total wealth increases. Classical economics originally differed from modern libertarian economics in seeing a role for the state in providing for the common good
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Adam Smith
ADAM SMITH FRSA (16 June 1723 NS (5 June 1723 OS ) – 17 July 1790) was a Scottish economist, philosopher, and author. He was a moral philosopher , a pioneer of political economy , and was a key figure during the Scottish Enlightenment era. He is best known for two classic works: _ The Theory of Moral Sentiments _ (1759), and _An Inquiry into the Nature and Causes of the Wealth of Nations _ (1776). The latter, usually abbreviated as _The Wealth of Nations_, is considered his _magnum opus _ and the first modern work of economics . Smith studied social philosophy at the University of Glasgow and at Balliol College, Oxford , where he was one of the first students to benefit from scholarships set up by fellow Scot, John Snell
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David Ricardo
DAVID RICARDO (18 April 1772 – 11 September 1823) was a British political economist . He was one of the most influential of the classical economists , along with Thomas Malthus , Adam Smith , and James Mill
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Historical Materialism
HISTORICAL MATERIALISM is a methodological approach of Marxist historiography that focuses on human societies and their development over time. This was first articulated by Karl Marx
Karl Marx
(1818–1883) as the MATERIALIST CONCEPTION OF HISTORY. It is principally a theory of history according to which the material conditions of a society's way of producing and reproducing the means of human existence or, in Marxist terms, the union of its productive capacity and social relations of production , fundamentally determine its organization and development. Historical materialism
Historical materialism
looks for the causes of developments and changes in human society in the means by which humans collectively produce the necessities of life
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Relations Of Production
RELATIONS OF PRODUCTION (German: Produktionsverhältnisse) is a concept frequently used by Karl Marx
Karl Marx
and Friedrich Engels in their theory of historical materialism and in Das Kapital . It is first explicitly used in Marx's published book The Poverty of Philosophy , although Marx and Engels had already defined the term in The German Ideology . By "relations of production", Marx and Engels meant the sum total of social relationships that people must enter into in order to survive, to produce, and to reproduce their means of life. As people must enter into these social relationships, i.e. because participation in them is not voluntary, the totality of these relationships constitute a relatively stable and permanent structure , the "economic structure". The term "relations of production" is somewhat vague, for two main reasons: * The German word Verhältnis can mean "relation", "proportion", or "ratio"
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Base And Superstructure
In Marxist theory , human society consists of two parts: the BASE (or SUBSTRUCTURE) and SUPERSTRUCTURE; the base comprises the forces and relations of production —employer–employee work conditions, the technical division of labour , and property relations—into which people enter to produce the necessities and amenities of life. These relations determine society’s other relationships and ideas, which are described as its superstructure. The superstructure of a society includes its culture , institutions , political power structures , roles , rituals , and state . The base determines (conditions) the superstructure, yet their relation is not strictly causal, because the superstructure often influences the base; the influence of the base, however, predominates. In Orthodox Marxism
Marxism
, the base determines the superstructure in a one-way relationship
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Social Consciousness
SOCIAL CONSCIOUSNESS is consciousness shared by individuals within a society . According to Karl Marx
Karl Marx
, human beings enter into certain productive, or economic, relations and these relations lead to a form of social consciousness. Marx said: "In the social production of their life, men enter into definite relations that are indispensable and independent of their will; these relations of production correspond to a definite stage of development of their material forces of production. The sum total of these relations of production constitutes the economic structure of society — the real foundation, on which rises a legal and political superstructure and to which correspond definite forms of social consciousness. The mode of production of material life determines the social, political and intellectual life process in general
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Maurice Dobb
MAURICE HERBERT DOBB (24 July 1900 – 17 August 1976) was a British economist at Cambridge University and a Fellow of Trinity College, Cambridge . He is remembered as one of the pre-eminent Marxist economists of the 20th century. CONTENTS* 1 Biography * 1.1 Career * 1.2 The Hogarth Press * 1.3 Death and legacy * 2 Economic thought * 2.1 Antecedent co-ordination * 2.2 External effects * 2.3 Variables in planning * 3 Footnotes * 4 Works * 5 Further reading * 6 External links BIOGRAPHY Maurice Dobb was born on 24 July 1900 in London, the son of Walter Herbert Dobb and the former Elsie Annie Moir. Dobb and his family lived in Willesden, a suburb of London. Dobb was educated at Charterhouse School in Surrey, an independent boarding school. He began writing after the death of his mother, during his early teenage years, and his covert, introverted personality prevented him from building a network of friends
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Progress Publishers
PROGRESS PUBLISHERS was a Moscow