What makes something valuable? Karl Marx developed a distinct approach to answer this question—the “labour theory of value”.

First things first: Marxism is a theory of capitalism. You can think of it this way: There is a theory of the force called gravity. There is also a theory of the force known as a strong force, which ...

Discover the key distinctions between capitalist and socialist economies, focusing on market reliance versus government ...

I was really rather surprised by this from Mark Thoma, the idea that capitalism (or, to be more accurate, this blend of capitalism and markets that we actually have) does not create a mechanism to ...

Is capitalism in crisis? That is what Rep. Alexandria Ocasio-Cortez, D-N.Y., said recently, more precisely she said that we are witnessing a “crisis of late stage capitalism.” Others seem to agree. So ...

In my view, Karl Marx's analysis of capitalism is really powerful and important. I think the best formulation of this analysis is in his book Capital, Volume 1. Joseph Kay recently wrote a blog post ...

An article on Marxist-Leninism, written by J. Grancharoff, and published in Red and Black: An Anarchist Journal, No. 9 Spring 1979. Rosa Luxemburg, referring to the Russian Marxists, stated: “It is ...

Author’s Note: The following is an abridged and edited passage from the first chapter of my Invisible Leviathan: Marx’s Law of Value in the Twilight of Capitalism, published by Haymarket Books in 2019 ...

Discover how government impacts capitalism, regulation, and free markets. Explore different economic theories and their views ...

A GOOD subtitle for a biography of Karl Marx would be “a study in failure”. Marx claimed that the point of philosophy was not just to understand the world but to improve it. Yet his philosophy changed ...

The question ‘what is capitalism’ is a sincere one. Critiques of our present situation very often say the problem is capitalism. This is usually done without defining the term. Nonetheless, people ...