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p. 608. Economicslocked

  • Peter Singer

Abstract

‘Economics’ considers Marx’s economic theories as outlined in Capital, which he regarded as his masterpiece. Marx believed that the capitalist economic system, regarded by the classical economists as natural and inevitable, was an alienated form of human life. The importance of economics lay in the explanation it provided of the workings of this alienation and the manner in which it could be overcome. Many of Marx’s theories have been refuted by events, so were the central theses of Capital simply mistaken? We should regard Capital as the work of a critic of capitalist society. Marx wanted to expose the deficiencies of classical economics in order to expose the deficiencies of capitalism.

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