Abstract
This article discusses Marx’s analysis of capitalism, including the concepts of historical materialism, class society, exploitation, commodity, value, money, capital, labour-power, value of labour-power, surplus-value, constant and variable capital, commodity law of exchange, capitalist law of exchange, equalization of the profit rate, prices of production, absolute and relative surplus value, the circuit of capital, simple and expanded reproduction, capital accumulation, centralization and concentration of capital, technical change, reserve armies of labour, rent, interest, commercial and bank profit, the falling rate of profit, viable technical change, and cyclical crises.
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Foley, D., Duménil, G. (2018). Marx’s Analysis of Capitalist Production. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2164
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2164
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