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Books > Business & Economics > Economics > Labour economics
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Marx and Living Labour (Paperback)
Loot Price: R1,713
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Marx and Living Labour (Paperback)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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From his early economic works on, Marx conceived the labour of any
kind of society as a set of production activities and analysed the
historical modes of production as specific ways of distributing and
exchanging these activities. Political economy on the contrary
considers the labour only under the form of its product, and the
exchange of products as commodities as the unique form of social
labour exchange. For Marx, insofar as the labour creating value
represents a specific mode of exchanging the society's living
labour, general and abstract labour cannot not only be defined as
the substance or measure unit of the commodity, as in Smith or
Ricardo, but foremost as an expense of living labour, i.e. of
nerves, muscles, brain, etc. Hence the twofold nature of living
labour, as a concrete activity producing a use value and an expense
of human labour in general producing exchange value. Marx himself
claimed that this twofold nature of labour creating value was its
main and most important contribution to economic science. This book
aims at showing how both determines the original categories and
economic laws in Capital and constitutes the profound innerspring
of Marx's critique of political economy. The role and function of
living labour is highlighted by dealing with the difference between
Marx and Classics' theories of labour value; money and the problems
of its integration in economic analysis, especially in Keynes; the
transition from feudalism to capitalism; the theory of capital
through a discussion on the Cambridge controversy and the
transformation problem; the labour process and the principles of
labour management; unemployment and overpopulation; the formulas of
capital in the history of economic thought; finally, an
interpretation of the current crisis based on Marx's conception of
overaccumulation and speculation after having distinguished it from
underconsumption and stagnation theories of crises.
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