Understanding Marx: an excerpt from Paul Mattick’s “Economic Crisis and Crisis Theory” (1974) | Marxists Internet Archive

Marx was easier for me to understand 40 year ago, but the wheels keep on turning and Marx is on track again.

Taking Sides

Source: Marxists Internet Archive

Excerpted from: Economic Crisis and Crisis Theory. Paul Mattick 1974

Marx’s Crisis Theory

The stagnation of bourgeois economics with respect to its content was for Marx a foregone conclusion. “Classical political economy,” he wrote,

belongs to a period in which the class struggle was as yet undeveloped. Its last great representative, Ricardo, ultimately (and consciously) made the antagonism of class interests, of wages and profits, of profits and rent, the starting-point of his investigations, naively taking this antagonism for a social law of nature, but with this contradiction the bourgeois science of economics had reached the limits beyond which it could not pass….

In France and England the bourgeoisie had conquered political power. From this time on, the class struggle took on more and more explicit and threatening forms, both in practice and in theory. It sounded the knell of scientific bourgeois…

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