INTRODUCTION TO MARX’S ECONOMIC THEORY

1. Theory of CAPITALISM, not socialism.

the title of the book is Capital

2. Main questions:

a. How is PROFIT produced? (i.e. what determines the magnitude of profit?)

b. Causes of CONFLICTS between capitalists and workers over:
wages?
length of the working day?
intensity of labor?

c. Causes and effects of TECHNOLOGICAL CHANGE?

d. Causes of DEPRESSIONS? (i.e. what causes unemployment?)

e. What causes POVERTY?

f. How does the development of capitalism create the objective conditions for SOCIALISM?

g. CRITIQUE of classical economics

3. Main questions of mainstream economics:

a. Macroeconomics?

b. Microeconomics?