Marxian Economics

Critique of political economy built on surplus-value extraction and the conflict between capital and labor.

Specifications & Metrics

era

19th century

founders

Karl Marx, Friedrich Engels

signature

Surplus value and crisis tendencies of capital (Das Kapital, 1867)

Core Principles & Analysis

• Das Kapital volume I appeared in 1867; Engels edited volumes II and III posthumously.
• The labor theory of value is retained from classical economics and turned against capital.
• The reserve army of labor and capital concentration still shape inequality and crisis debates.

Sources

• Wikipedia: Marxian economics