Understanding Capital: Marx's Economic TheoryUnderstanding Capital is a brilliantly lucid introduction to Marxist economic theory. Duncan Foley builds an understanding of the theory systematically, from first principles through the definition of central concepts to the development of important applications. |
Contents
Method | 1 |
Labor Value Money | 12 |
3 The Theory of Capital and Surplus Value | 31 |
4 Production under Capitalism | 49 |
5 The Reproduction of Capital | 62 |
6 The Equalization of the Rate of Profit | 91 |
7 The Division of Surplus Value | 105 |
8 The Falling Rate of Profit | 125 |
9 The Theory of Capitalist Crisis | 141 |
10 Socialism | 158 |
Suggested Readings | 173 |
| 177 | |
| 181 | |
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Common terms and phrases
abstract aggregate demand appropriate capital accumulation capital outlays capitalist economies capitalist firms capitalist production capitalist society chap circuit of capital commercial capital commodity production composition of capital constant capital costs Department determinations duction equal exchange equation equivalent example expanded reproduction falling rate gold interest rate italist labor productivity labor theory labor value markup Marx argues Marx calls means of production mode of production modities monetary output problem produced commodities production process productive capital productive labor profit rate rate of exploitation rate of profit rate of surplus real wage relations of production relative surplus value reserve army Ricardo rise sectors sell simple reproduction social labor social production social relations social surplus value spending technical change technical progress technique theory of value tion unequal exchange unit of corn unit of labor unproductive use-values value added value of labor-power value of money variable capital workers