Bukharin completed this work in 1914; it represented an attempt to
grapple with the Austrian School of political economy, as
represented chiefly by Eugen von Bohm-Bawerk. Bukharin interprets
the school as reflecting the social position of the rentier stratum
of the capitalist class, which tends to view the economy from the
point of view of consumption rather than production. But this is
merely the introduction to a close consideration of the theory of
marginal utility as contrasted with the labor theory of value which
formed the starting point of both Marxism and classical economics.
His discussion, therefore, while it does not deal with the many
changes and refinements of neoclassical economics, does contrast,
in polemical form, Marxism with the fundamental premises of modern
academic economics. His discussion of "subjective" and "objective"
value definitions, in particular, will help clarify for many the
essential differences that distinguish Marxist political economy
from other schools.
General
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