The Logic of Capital
An Introduction to Marxist Economic Theory

An accessible, rigorous presentation of Marx's argument in the three volumes of Capital and of longstanding debates in Marxist economics.

Deepankar Basu (Author)

9781009418119, Cambridge University Press

Paperback / softback, published 24 August 2023

439 pages
27 x 18 x 2.8 cm, 0.724 kg

'Basu's work ought to interest a wide audience among structuralist economists who acceptthe need to synthesize classical, Marxian and Keynesian traditions.' Thomas R. Michl, Review of Political Economy

This book presents the main economic argument developed by Marx in the three volumes of Capital in a coherent and comprehensive manner. It also delves into three long-standing debates in Marxist political economy: the transformation problem, the Okishio theorem, and theories of exploitation and oppression. Starting with discussions of methodology, including dialectics and historical materialism, the book explains key concepts of Marxist political economy: commodity, value, money, capital, reserve army of labour, accumulation of capital, circuit of capital, reproduction schemas, prices of production, profit, interest and rent. Scholars of economics, sociology, geography, political science, anthropology, and other kindred disciplines, will find here an accessible yet rigorous treatment of Marxist political economy.

1. Introduction
Part I. Foundations: 2. Some methodological issues
3. Generation of surplus value
4. Realisation of surplus value
5. Distribution of surplus value
Part II. Further Explorations in Political Economy: 6. Capitalism and technical change
7. The transformation problem
8. Exploitation and oppression
Index.

Subject Areas: Political economy [KCP], International economics [KCL], Labour economics [KCF], Economic theory & philosophy [KCA], Economics [KC], Political science & theory [JPA], Sociology: work & labour [JHBL]