Understanding Capital: Marx’s Economic Theory

Are you looking to gain a deeper understanding of Marxist economic theory? Look no further than Understanding Capital: Marx’s Economic Theory. This comprehensive book by Duncan Foley takes you on a journey from the basic principles to the practical applications of Marxist economics. With all the topics covered in Marx’s three volumes of Capital, you can expect to gain a complete view of this important economic theory.

One of the standout features of Understanding Capital is Foley’s clear and concise writing style. He starts by addressing common philosophical problems that readers often face when approaching Marx’s work, such as questions of epistemology, explanation, prediction, determinism, and dialectics. By guiding you through these challenges, Foley ensures that you have a solid foundation before delving into the core concepts of Marxist economics.

A key highlight of this book is Foley’s exploration of the circuit of capital, a concept often overlooked in other works. By analyzing Marx’s theory of the reproduction of capital, he provides valuable insights into the functioning of the capitalist economy. From there, Foley tackles central problems such as the equalization of profit rates, the division of surplus value, and the falling rate of profit.

Understanding Capital also explores the theory of capitalist crisis and its connection to Marx’s conception of socialism. Foley offers a thoughtful discussion on the critique of capitalism and its implications for a better future. By studying the theory of money in relation to the labor theory of value, this book clarifies the relation of prices to value and enables readers to use Marx’s analysis in practical situations.

With its close alignment to the chapters in Capital, Understanding Capital is an indispensable companion to Marx’s work. It also provides suggestions for further reading, allowing readers to delve deeper into specific topics of interest. Take your knowledge of Marxist economics to new heights with Understanding Capital: Marx’s Economic Theory.

Ready to dive into the world of Marxist economics? Get your copy of Understanding Capital: Marx’s Economic Theory now!