Intermediate Macroeconomics

Topic Three: Marxian Critique of Capitalism (in a nutshell)

Critique of the Classical School of Economics:

            People are not by nature self-interested:

Two main classes: 

Dialectics:

Capitalism contains the seeds to its own destruction:

Exploitation:

   Labor Theory of Value (which many of the Classical economists made famous):

Competition -

   Surplus value:

Revolution: