Reflections on Marx’s Critique of Political Economy

Marx’s concepts and categories have become an intrinsic part of common usage. They are also used by statist tendencies to legitimise their claims to power and to suppress the questioning of the foundations of existing hierarchical society. This text seeks to dissolve the aura that surrounds Marx’s concepts and categories. In doing so it seeks to free them from the deadweight of tradition that has rendered them incapable of performing a critical function today.

The readers of this text need not be acquainted with Marx’s critique of political economy. The section ‘Concept Notes’ has been included to facilitate an understanding of Marx’s concepts. We hope that this text will help in challenging the hierarchy of the Marx-read, polemically-literate, quotation- flinging gurus and their disciples.

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I. The fundamental characterisation of capital

II. The extent of domination of capitalist mode of production

III. The significance of the tendency of the rate of profit to fall<

IV. The problem of extended reproduction

V. Monopoly capitalism and imperialism

CONCEPT NOTES : Marx’s concepts with comments

a) Commodity and Value

b) Value and Equivalents

c) Production units & Managers of extraction

d) What is Surplus Value ?

e) The politics of Wage and Time bargain

f) Law of Value

g) Average rate of profit and its tendency to fall

h) The accumulation of capital : problem & solution

Our background

What Is Useful Social Labor?

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