Marx on Smith
This statement could, at first sight, be seen as a two streams proposition. In order to assess whether such a view is justified it is necessary to examine Marx’s many comments on Smith’s work in more detail.
Adam Smith’s successors, in so far as they do not represent the reaction against him of older and obsolete methods of approach, can pursue their particular investigations and observations undisturbedly and can always regard Adam Smith as their base, whether they follow the esoteric or the exoteric part of his work or whether, as is almost always the case, they jumble up the two. (Marx, 1861–63, II, p. 166; see also 1861–63, I, pp. 88, 151; and III, p. 20)
KeywordsNatural Rate Labour Theory Natural Price Surplus Theory Surplus Approach
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