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Marx goes on for quite some time portraying commodities and commodity exchange in deliberately mystified and buffoonish ways. Those who are interested in exploring this in greater detail can take a look at my little book, Moneybags Must Be so Lucky. But let me move along with my exposition of Marx’s argument. You will recall that I said Marx chose to write volume 1 as though Ricardo’s simple Labor Theory of Value were correct because he thought there was a deeper problem that neither Ricardo nor any of the other classical political economists had recognized. The problem quite simply is that they are unable to explain why there is any profit at all in a capitalist system of the sort we are examining....The Philosopher's StoneMY UNDERSTANDING OF MARX PART VIRobert Paul Wolff | Professor
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Marx goes on for quite some time portraying commodities and commodity exchange in deliberately mystified and buffoonish ways. Those who are interested in exploring this in greater detail can take a look at my little book, Moneybags Must Be so Lucky. But let me move along with my exposition of Marx’s argument. You will recall that I said Marx chose to write volume 1 as though Ricardo’s simple Labor Theory of Value were correct because he thought there was a deeper problem that neither Ricardo nor any of the other classical political economists had recognized. The problem quite simply is that they are unable to explain why there is any profit at all in a capitalist system of the sort we are examining....The Philosopher's StoneMY UNDERSTANDING OF MARX PART VIRobert Paul Wolff | Professor
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Marx goes on for quite some time portraying commodities and commodity exchange in deliberately mystified and buffoonish ways. Those who are interested in exploring this in greater detail can take a look at my little book, Moneybags Must Be so Lucky. But let me move along with my exposition of Marx’s argument. You will recall that I said Marx chose to write volume 1 as though Ricardo’s simple Labor Theory of Value were correct because he thought there was a deeper problem that neither Ricardo nor any of the other classical political economists had recognized. The problem quite simply is that they are unable to explain why there is any profit at all in a capitalist system of the sort we are examining....The Philosopher's Stone
MY UNDERSTANDING OF MARX PART VI
Robert Paul Wolff | Professor Emeritus, University of Massachusetts Amherst