Heterodox
In 1904, Rudolf Hilferding wrote a response to Böhm-Bawerk (1896) called “Böhm-Bawerk’s Criticism of Marx” (Hilferding 1949 [1904]).In this essay of Hilferding, we have a fascinating confirmation of the way in which the early Marxists were concerned to still vindicate the law of value in volume 1 of Capital – the idea that commodities tend to exchange at pure labour values – as an empirical theory.Like Engels, they seized on Marx’s statement in Chapter 10 of volume 3 of Capital as follows:...
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