A Reappraisal of Marxian Economics

A Reappraisal of Marxian Economics

A Reappraisal of Marxian Economics

A Reappraisal of Marxian Economics

Excerpt

The critic's task is to put Marx to the test of the scientific method. Where he has made a meaningful prediction we can examine the evidence and decide if it is falsified by the facts. Where his concepts are not falsifiable in principle they can be declared metaphysical lumber and discarded.

But having made the resolve we find ourselves in no small difficulty. Statistical testing of the Marxian predictions have been notoriously unsuccessful in arriving at significant conclusions. That the concepts themselves were not designed for econometric purposes will become apparent in discussing Marx's theory of value. Furthermore, their validity can only be established on the basis of international aggregates which presents formidable statistical difficulties. More important than this, Marx made very few firm predictions, but spoke of tendencies and countertendencies. While it usually is evident what tendency he expected eventually to be dominant, in any finite period of time the possibility always remains that his predictions have not yet had time to work themselves out. The only really firm prediction he makes is the eventual triumph of socialism. On the world scene, the number of Marxist-oriented socialist nations certainly have expanded. Nevertheless, it is impossible to apply this as a test because of the programmatic nature of Marxism. It is because of Marx that socialism has developed, or is it the result of the forces Marx analyzed that Socialist nations have appeared on the world scene? Are there other reasons? Certainly we have no opportunity for a critical experiment here.

Despite this negative result some progress is made in Chapter I in identifying the dialectic as a scientifically inadmissible way . . .

Author Advanced search

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.