Marx’s model of political economy is better laid out in Capital and more briefly laid out in Wage Labour and Capital, but it’s fun to see it in draft and wielded like an axe against Proudhon. Even if you are looking for Marxist economics delivered as a killing blow, this book is tough for the uninitiated. Although Marx quotes Proudhon at length, the reader is presumed to be familiar with the overall shape of his argument. I read this work in parallel with Marx's Inferno, and was glad of the extra context Roberts gives regarding Proudhon’s positions (particularly Chapter 5, but also Chapters 2-3).
Perhaps one of the most important take-home messages is that we should uphold correct pro-capitalist economists (in this work, Ricardo and Smith) and not placate incorrect anti-capitalists (like Proudhon) despite the appearance of shared goals. The work is structured in two parts, which correspond somewhat to parts 1-3 and part 4 of Capital. I particularly enjoyed the second section, in which Marx targets Proudhon’s clumsy and idealistic attempt to apply Hegel’s dialectics. The other works by Marx that I’ve read did not discuss dialectics as a tool and it was fun seeing Marx describe historical materialism in these terms. Unlike Capital, this was not a transformative read, but did help me better understand the development of his thought. Marx’s writing in this work is often quite vivid and fun, and I imagine I’ll return to it again when I’m looking for a colourful quote.
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