By Freya B. Marx’s theory of price has been a contentious subject over the history of Marxist political economy. Controversy over Marx’s formulation on “prices of production” has led many to try to “fix” what are perceived to be failures in Marx’s theory (often producing absurd and incoherent conclusions), or to simply abandon Marxist value […]

One of the most commonly-heard terms in the bourgeois economics departments is “productivity.” The vulgar economists of course define “productivity” as the price of output relative to the price of input. So capital has its “productivity” and labor has its “productivity,” and each is rewarded accordingly, or so they say. As Marxists however, we really […]