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Analyzing an Economic System

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Joined: 23/04/2017
Analyzing an Economic System

That Marx’s analysis of capitalism was not tied to conditions in mid-century Victorian Britain is shown by the fact that the same economic laws, the same economic drive to accumulate capital out of surplus value created by wage-labour, operated also in the former USSR


Marx’s analysis of the way capitalism works is valid wherever there is sectional ownership and control of the means of wealth production and where production is carried out by wage-workers for sale on a market with a view to profit. As this is undoubtedly still the case today, Marx’s Capital remains valid and relevant