Download PDF by Paul M. Sweezy: Theory of Capitalist Development

By Paul M. Sweezy

ISBN-10: 0234770147

ISBN-13: 9780234770146

Due to the fact its first booklet in 1942, this publication has turn into the vintage analytical examine of Marxist economics. Written by means of an economist who's a grasp of recent educational conception in addition to Marxist literature, it's been well-known because the excellent textbook in its topic. complete, lucid, authoritative, it has now not been challenged or perhaps approached via any later research.

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It says simply that the value of the constant capital used up in the consumption goods branch must be equal to the value of the commodities consumed by the workers and capitalists engaged in producing means of production. If this condition is satisfied, the scale of production remains unchanged from one vear to the next. Before proceeding, let us examine the reproduction scheme in somewhat more detail. Perhaps its greatest importance lies in the fact that it provides a unified framework for analysing the interconnections of output

When the tasks of quantitative-value theory are thought of in this broad sense, the pattern of consumer wants cannot be neglected. It is just here, however, that the charge of ignoring demand cannot be successfully maintained against Marx. The contrary impression seems to be so widespread that a lengthy quotation from Volume m may not be out of place. which each satisfies. But the use value of the social mass of products depends on the extent to which it satisfies in quantity a definite social need for every particular kind of product in an adequate manner, so that the labor is proportionately distributed among the different spheres in keeping with these social needs, which are definite in quantity .

Throughout the first two volumes of Capital, he ignores differences in organic compositions, which is another way of saying that he assumes that they do not exist. Then in Volume III he abandons this assumption and attempts to show that, from the point of view of the problems which he was attempting to solve, the modifications which result are of a relatively minor character. There is no doubt that the proof which Marx gives for this latter proposition is in some respects unsatisfactory, but by substituting an adequate proof we shall demonstrate that both his method and his conclusions arc sound.

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Theory of Capitalist Development by Paul M. Sweezy


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