Das Kapital & Modern Economists

Fundamental difference between Karl Marx Das Kapital and modern economist view of human nature and the capitalist system

Category:

Education

Tags:

• Karl
• Marx
• Das
• Kapital
• Capitalistic
• System
• Human
• Nature
• economics
• social
• science

[HerrSchenkel]

Hm, can you link to those 5 preconditions set out by Adam Smith? I did a Google search and it just lead me back here.

[usthepeople]

@HerrSchenkel

Adam Smith's classic economic theory, are all based on 5 underlying assumptions:

• buyers and sellers must be too small to influence market price;

• complete info must be available to all parties;

• sellers must bear the full cost of producing their products;

• capital must remain within national borders and trade between countries must be balanced;

• savings must be invested only in creation of productive capital.

[TimeWarp66]

What were the 7........???????

[usthepeople]

There are actually 5 pre-conditions to free market. They are:

· buyers and sellers must be too small to influence market price;

· complete info must be available to all parties;

· sellers must bear the full cost of producing, selling their products;

· capital must remain within national borders and trade between countries must be balanced;

· savings must be invested only in creation of productive capital.

This describes a decentralized local/regional based economy.

[onlygunter]

So what were the seven points of capitalism that we don't have?

[usthepeople]

Adam Smith actually identified 5 preconditions to free market capitalism:

1. Neither buyer or seller are big enough to affect prices;

2. All parties have full information about the product, the transaction, and the consequences;

3. The seller must bear all costs of the sale - production, sale and use of product;

4. All capital must stay within national boundaries and trade between nations balanced; and

5. Savings only invested in productive investments.

Sounds like a sustainable local economy.

[mediumsteve]

you look like a mixture between karl marx and santa claus

[ElFrankus]

Funny u say that in the midst of this crisis. Funny.

[ivan191919]

Smith's discretion belongs to a stage of capitalist relations that no longer exists. This by no means justify to claim that the current system is something other than capitalism. We live in the era of imperialist capitalism so don't look for the little pa and ma shops engaged in their little entrepreneurial activities...

[RODRIGOR300]

omg karl marx is alive



[codeagent47]

When it comes to profit, democracy will face crisis. Because the only people that can rule the world is not the common people but those who own the capital. For those nation states claim themselves as free and democracy... its just bunch of bullshit.

[WSWarthog]

@FletchforFreedom

You're just being nitpicky, it's not so much a "Marxist straw man festival" as it is a confusion of terms.

[WSWarthog]

@Volomonoh

No he's pretty much on the mark, Adam Smith and every other pro-capitalist intellectual I've ever heard of supported free markets/

[warriorprince1010]

Capitalism is the right to own property and businesses. Socialism is the law that the state owns property and business. Capitalism needs good education for all, sadly we do not have that. Real capitalism would be lots of small to medium sized businesses, and no poverty.,

[Volomonoh]

this guy is an idiot...we DO have capitalsim, so did the soviets. Capitalism is an array of systems by which capital is used, allocated and created. There is state-capitalism, mixed capitalism, and free-market capitalism. guess which one we have always had...

[uncleruckus714]

@PrimusRaven I agree this is why I barely watch tv anymore, the media tries to make us into slaves mentally

I wish Karl Marx was still alive so he would be laughing his ass off at what's happening in the American media in the 21st century