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Marginal Utility

Book Review: 'The Economic Theory of the Leisure Class'

Karl Marx and His Critics: Do Profits Grow on Thistles?

'The Economic Theory of the Leisure Class', by N. Bukharin, (Martin Lawrence, 7/6 net.)

Since the days when Marx analysed the Capitalist system of producing and distributing wealth, laid bare the secret of value, and demonstrated how surplus value is obtained, the agents of the master class have been engaged in numberless attempts to “explain” why the Capitalist is entitled to his profits. A legion of Professors of Political Economy have entered the lists against Marx, with disastrous results to themselves. Journalists and publicity writers have tried their hands where the experts have failed, with even more lamentable results.

Karl Marx in Current Criticism: The Verdict of a Generation

The Test of Time
Just thirty year have passed since the body of the great path-finder was laid to rest in the grave upon Highgate Hill. Thirty years – the life-time of a generation  – yields a fair test of the truth of the theories advanced by a thinker, and should offer an opportunity to judge a man’s work in something approaching true perspective.

I cannot attempt in these lines a comprehensive survey of the work of Karl Marx. A life of sixty-five years of stress and struggle is not to be examined in a column or two. But some of the main points in Marx’s work may be briefly yet profitably reviewed in the light of our present knowledge.

All kinds of opponents of Socialism profess to offer us something “more in keeping with the times.” But whether it by Syndicalism or Revisionism, Co-partnership or State Capitalism, each and every one of these is seen to be fallacious when tested by the scientific theories put forward by Marx.

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