"Understanding 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. All of the topics in the three volumes of "Capital"
are included, providing the reader with a complete view of Marxist
economics.
Foley begins with a helpful discussion of philosophical problems
readers often encounter in tackling Marx, including questions of
epistemology, explanation, prediction, determinism, and dialectics.
In an original extension of theory, he develops the often neglected
concept of the circuit of capital to analyze Marx's theory of the
reproduction of capital. He also takes up central problems in the
capitalist economy: equalization of the rates of profit (the
"transformation problem"); productive and unproductive labor and
the division of surplus value; and the falling rate of profit. He
concludes with a discussion of the theory of capitalist crisis and
of the relation of Marx's critique of capitalism to his conception
of socialism.
Through a careful treatment of the theory of money in relation
to the labor theory of value, Foley clarifies the relation of
prices to value and of Marx's categories of analysis to
conventional business and national income accounts, enabling
readers to use Marx's theory as a tool for the analysis of
practical problems. The text is closely keyed throughout to the
relevant chapters in "Capital" and includes suggestions for further
reading on the topics discussed.
General
| Imprint: |
Harvard University Press
|
| Country of origin: |
United States |
| Release date: |
November 1986 |
| First published: |
November 1986 |
| Authors: |
Duncan K Foley
|
| Dimensions: |
229 x 152 x 15mm (L x W x T) |
| Format: |
Paperback
|
| Pages: |
200 |
| ISBN-13: |
978-0-674-92088-0 |
| Categories: |
Books >
Business & Economics >
Economics >
General
|
| LSN: |
0-674-92088-0 |
| Barcode: |
9780674920880 |
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