Karl Marx on National Economy - Dictionary of Arguments
Höffe I 364
National Economy/Marx/Höffe: (...) Marx [seeks] to show how a national economy which is designed from the standpoint of the capitalists who own the means of production, among their own assumptions did not achieve its claimed goal.
MarxVsSmith, Adam: While Smith, according to the title of his work, promises the "prosperity of nations"(2), in truth, according to Marx, the crass opposite takes place: an impoverishment, eventually impoverishment of the worker.
Profit: The capital utilization aiming at profit increase favors on the one hand the large capital, because it destroys the small capital and seizes the property.
Labor: On the other hand, it leads to an abundance of labor, which pushes the wage below the subsistence level.
Impoverishment: Later, Marx abandoned the idea of absolute impoverishment. He only claims that the wage does not keep pace with the growing wealth of the capital owners (...).
1. K. Marx, Ökonomisch-philosophische Manuskripte (1844) (Pariser Manuskripte)
2. A. Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 1776_____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Das Kapital, Kritik der politische Ökonomie Berlin 1957
Geschichte des politischen Denkens München 2016