Value creation in the production of services: a note on Marx

Article Abstract:

Marx theorized that the financial services would decrease because they are unproductive and do not create value in the way that labour does. However, the finance sector has flourished and this can be explained by adapting Marx's theory on services to accept that commercial and productive capital can work together as dual capital to create value. Value-creating capital may be a small part of the equation but it is still important because it is what drives the industry.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

Methodological dualism and the microfoundations of Marx's economic theory

Article Abstract:

Marxists vary in terms of how they tackle human agency and structural constraints in theories of how the capitalist system works. Marxist economists have tended to focus on structure rather than agency, though some Marxist philosophers give more weight to agency. The dialectical method employed by Marx uses a form of reductionism. Marx focused on commodities rather than individuals and this represents a methodological dualist percpective on society.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

The market and exploitation in Marx's economic theory: a reinterpretation

Article Abstract:

Karl Marx's attempt to present the entire story of exploitation is the reason for his transformation procedure in 'Capital.' This work is defined by the theories that the commodity notion encloses a unified account of prices and that the resulting development of this notion is dependent on the switch in rules within this unified account.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code: