Marx on Smith and Ricardo

Howard Nicholas

Chapter 4 in Marx’s Theory of Price and its Modern Rivals, 2011, pp 61-69 from Palgrave Macmillan

Abstract: Abstract Marx saw the Classical economists as, to one degree or another, trying to understand the inner workings of the capitalist system, in contrast with those economists he termed as ‘vulgar’, the ancestors of the present- day Neoclassical economists, who he dismissed as being little more than apologists for the capitalist system. There is in fact little doubt that he owed a considerable intellectual debt to the Classics, particularly Adam Smith and David Ricardo, who he regarded as easily the best among them. Since Marx devoted so much attention to the critical appraisal of these two Classical economists in particular, frequently using his criticisms of their works to benchmark his own contributions to economic thought, the present chapter will focus on this appraisal with a view to clarifying further his own distinctive theory of price.

Keywords: Real Wage; Agricultural Commodity; Classical Economist; Labour Time; Capitalist System (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-34650-5_4

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DOI: 10.1057/9780230346505_4

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