Faculty Publications

Title

The Conditional View of the Neoclassical and Marxist Approaches to the Concept of Productive Labour

Document Type

Article

Journal/Book/Conference Title

International Journal of Social Economics

Volume

16

Issue

1

First Page

13

Last Page

26

Abstract

Many concepts are employed in economics. Each arouses controversy; each is a subject of debate. Economists waste their time and intellectual energy on infighting at the expense of analysing and predicting economic events. Reflecting on the state of the discipline, Kuttner[1] writes in despair that “the profession… [is]… fragmented into Chicago monetarists, post-Keynesians, neo-Marxists, neo-institutionalists, neo-Austrians, and a new fundamentalist strain, the rational-expectations school”. Some consolation might be found in the fact that economics of today is in no better position than economics of the past. Since coming into being during the second half of the eighteenth century, economics has been an arena of continuous struggle between the mercantilists and physiocrats; between the classical school of Smith and Ricardo and the neoclassical school of Jevons, Menger, Walras and Marshall, between Marxist doctrine and non-Marxist thought, and so on. © Emerald Backfiles 1989

Original Publication Date

1-1-1989

DOI of published version

10.1108/03068298910133025

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