Capitalism's inherent contradictions: Why it drives toward crisis
Geopolitical Economy Report
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Classical Political Economy vs Neoclassical Economics
This chapter discusses the differences between classical political economy and neoclassical economics, particularly focusing on the concept of value. It explains how classical political economists emphasized the role of labor in determining value, while neoclassical economics abstracted away from societal factors and focused on utility. Marx's contribution to resolving contradictions in classical political economy is also discussed.
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