The Mudcat Café TM
Thread #139127   Message #3191138
Posted By: Jack the Sailor
19-Jul-11 - 11:37 PM
Thread Name: BS: More on conspiracy and US politics
Subject: RE: BS: More on conspiracy and US politics
>>>Ake...

please read my post:

               Subject: RE: BS: More on conspiracy and US politics
               From: pdq - PM
               Date: 17 Jul 11 - 05:18 PM

               3. Economics {of Karl Marx}


It shows that Karl Marx had another meaning for "capital" than the current one that we assume he meant, properly called the "free market". <<

I just read the article. No where does it say or even imply that Marx said "the free market = Capitalism."

I studied Labor economics under a professor who was a scholar of Marx. All my other business and Econ Profs were pro-capital. I've heard the "labour theory of Capital" explained in detail. Believe me when I tell you that Marx used the same definition of Capital as Adam Smith or any other serious economist does. That doesn't make his conclusions any more valid. As your article points out. Many of his assumptions are highly contestable. But he certainly was using the correct definitions.