,*APT] #c 
,M>X'S ,LABOR ,!ORY ( ,VALUE 

,PEOPLE 3 

,AU?OR 3 ,PAUL ,MATTICK 

,TEXT 3 

,:]EAS ,KEYNES' PREOCCUPATION ) MONET>Y QUE/IONS WAS BAS$ ON HIS 
DESIRE TO MAKE ! CAPITALI/ SY/EM WORK MORE EFFICI5TLY1 ,M>X'S 
RELATIVE NEGLECT ( !SE ISSUES /EMM$ FROM HIS GOAL ( =MULAT+ A !ORY 
( CAPITAL DEVELOPM5T4 ,?IS LABOR !ORY ( VALUE EVOLV$ \T ( HIS CRITICISM 
( CLASSICAL VALUE !ORY4 

,9 ORD] TO YIELD REGULATORY RESULTS1 ! M>KET AUTOMATISM PRESUPPOSES A 
PR9CIPLE ON :I* EX*ANGE IS BAS$1 A PR9CIPLE ?AT EXPLA9S PRICES & 
!IR *ANGES4 ,IF A PRICE IS GIV51 IT MAY V>Y 9 ! 9T]PLAY ( SUPPLY & 
DEM&1 BUT ! QUE/ION ( :AT DET]M9ES PRICES REMA9S4 ,= ! 
CLASSICI/S1 PRICE D]IV$ FROM VALUE & VALUE WAS DET]M9$ BY ! LABOR 
9CORPORAT$ 9 COMMODITIES4 ,?IS CONCEPTION DOES NOT RULE \T SPECIFIC CASES 
9 :I* PRICE HAS NO RELATION TO LABOR TIME4 ,M>X F\ND ! LABOR !ORY ( 
VALUE 9DISP5SABLE = UND]/&+ ! DEVELOPM5TAL T5D5CIES ( CAPITAL 
PRODUCTION & 9 FACT1 ! ONLY 0RATIONAL BASIS ( POLITICAL 
ECONOMY40 

,! LABOR !ORY ( VALUE UND]LIES BO? E>LY B\RGEOIS ECONOMIC !ORY & 
ITS ,M>XIAN CRITIQUE1 & 9 BO? CASES DEALS ) SOCIAL PRODUCTION & ITS 
DI/RIBUTION BETWE5 DIFF]5T SOCIAL CLASSES4 ,CLASSICAL ECONOMY1 ACCORD+ TO 
,M>X1 CULM9AT$ 9 ,RIC>DIAN ECONOMIES & WAS AN EXPRESSION ( ! RIS+ 
9DU/RIAL CAPITALISM )9 ! DECAY+ FEUDAL REGIME4 ,IT REPRES5T$ ITSELF 
AS ! !ORY ( ! PRODUCTIVE CLASSES1 AS OPPOS$ TO ! 
NONPRODUCTIVE CLASSES1 :I* APPROPRIAT$ !IR PRIVILEGES 9 ! =M ( 
,9T]E/ & R5T4 ,IT DID NOT AS YET CONC]N ITSELF ) ! 9DU/RIAL 
PROLET>IAT & WAS ?US ABLE TO SEE 9 LABOR ! SOLE CREATOR & MEASURE ( 
ECONOMIC VALUE4 

,! LABOR !ORY ( VALUE BECAME AN EMB>RASSM5T = ! CAPITALI/ CLASS 
AS SOON AS ! NEWLY->IS+ FRICTIONS BETWE5 B\RGEOISIE & PROLET>IAT 
REPLAC$ & OV]%AD[$ ?OSE BETWE5 ! FEUDAL & ! CAPITALI/ REGIME4 
,IF ! VALUE ( COMMODITIES IS DET]M9$ BY ! QUANTITY ( LABOR TIME 
REQUIR$ = !IR PRODUCTION1 & ! PRODUCT ( ! :OLE ( SOCIAL LABOR IS 
DIVID$ 9TO R5T1 PR(IT1 & WAGES1 IT W\LD SEEM TO FOLL[ ?AT ! 
ELIM9ATION ( PR(IT & R5T W\LD ALL[ = AN EQUAL EX*ANGE ( COMMODITIES 
9 ACCORDANCE ) !IR LABOR-TIME4 ,RIC>DIAN ECONOMICS GAVE RISE TO A S*OOL 
( 0,RIC>DIAN ,SOCIALI/S10 :I* DEM&$ AN EX*ANGE SY/EM ?AT 
W\LD ASSURE PRODUC]S ! FULL VALUE ( !IR LABORS4 

,M>X DID NOT DRAW SIMIL> CONCLUSIONS FROM ! LABOR !ORY ( VALUE4 
,NONE!LESS1 AS ,FRI$RI* ,5GELS PO9T$ \T1 09 SO F> AS MOD]N 
SOCIALISM1 NO MATT] ( :AT T5D5CY />TS FROM B\RGEOIS POLITICAL ECONOMY 
IT ALMO/ EXCLUSIVELY L9KS ITSELF TO ! ,RIC>DIAN !ORY ( VALUE40.<#a.> ,IT IS = ?IS REASON 
?AT ,M>X HAS (T5 BE5 CALL$ 0! LA/1 AS WELL AS ! GREATE/ ( ! 
CLASSICAL ECONOMI/S40 .<#b.> ,?IS FULFILLS ! D\BLE PURPOSE ( GRANT+ ,M>X 
HIS UND5IABLE GREATNESS & YET DISMISS+ HIS !ORY AS \TDAT$1 ALONG ) 
ALL CLASSICAL !ORY4 ,EV5 ?\< ,M>X ACCEPT$ & DEVELOP$ ,RIC>DO'S 
VALUE !ORY1 HE WAS NOT ! 0GREATE/0 ( ! CLASSICAL 
ECONOMI/S1 BUT !IR ADV]S>Y4 ,HE KNEW ?AT ! SOCIAL LABOR PROCESS ITSELF 
HAS NO?+ TO DO ) EI!R VALUE OR PRICE BUT ONLY ) ! TIME-CONSUM+ 
PHYSICAL & M5TAL EX]TIONS ( ! LABOR+ POPULATION1 & ?AT 
0VALUE0 & 0PRICE0 >E FETI%I/IC CATEGORIES = 
EXI/+ SOCIAL PRODUCTION RELATIONS4 ,HIS CRITICISM ( POLITICAL ECONOMY WAS 
CONCEIV$ AS P>T ( A SOCIAL /RUGGLE TO ABOLI% CAPITALISM TOGE!R ) ! 
ECONOMIC !ORIES :I* RATIONALIZ$ ITS EXI/5CE4 

,B\RGEOIS ECONOMIC !ORY SEES ! RELATIONS ( B\RGEOIS PRODUCTION AS 
NATURAL RELATIONS1 ?AT IS TO SAY1 IT HOLDS 0?AT !SE >E ! RELATIONS 
9 :I* WEAL? IS CREAT$ & PRODUCTIVE =CE DEVELOP$ 9 CON=MITY ) 
! LAWS ( NATURE4 ,!SE RELATIONS !RE=E >E !MSELVES NATURAL LAWS 
9DEP5D5T ( ! 9FLU5CE ( TIME4 ,!Y >E ET]NAL LAWS :I* MU/ ALWAYS 
GOV]N SOCIETY4 ,?US !RE HAS BE5 HI/ORY1 BUT !RE IS NO LONG] 
ANY40.<#c.> ,= 
,M>X1 H[EV]1 CAPITALISM WAS ONLY AN HI/ORICAL =M ( SOCIAL PRODUCTION4 ,HE 
RECOGNIZ$ ?AT UND]LY+ ?IS SPECIFIC =M ( SOCIAL DEVELOPM5T IS ! 
G5]AL PROCESS ( SOCIAL DEVELOPM5T - COMPREH5D$ 9 ! MAT]IALI/ 
CONCEPTION ( HI/ORY - :I* EXPRESSES ITSELF 9 A V>IETY ( 
SOCIO-ECONOMIC =MATIONS B\ND UP ) DIFF]5T LEVELS ( LABOR PRODUCTIVITY4 
,?IS PROCESS HAS ITS S\RCE 9 MAN'S /RUGGLE = EXI/5CE 9 A NATURAL 
SETT+ ?AT 5ABLES & =CES HIM TO 9CREASE HIS CAPACITY = WORK & 
SOCIAL ORGANIZATION4 ,ITS />T+ PO9T IS LO/ 9 PREHI/ORY1 BUT 9 KN[N 
HI/ORY ! DIFF]5T /AGES ( HUMAN & SOCIAL EXI/5CE REVEAL !MSELVES 9 
! *ANG+ TOOLS & MODES ( PRODUCTION4 

,:5 ,M>X SPEAKS ( ! 0LAW ( VALUE0 AS RELAT+ TO A 
DEEP] REALITY :I* UND]LIES ! CAPITALI/ ECONOMY1 HE REF]S TO ! 
0LIFE PROCESS ( SOCIETY BAS$ ON ! MAT]IAL PROCESS ( 
PRODUCTION40.<#d.> 
,HE WAS CONV9C$ ?AT 9 ALL SOCIETIES1 9CLUD+ ! HOP$-= SOCIALI/ 
SOCIETY1 A PROPORTION+ ( SOCIAL LABOR 9 ACCORDANCE ) SOCIAL NE$S & 
REPRODUCTION REQUIREM5TS IS AN 9ESCAPABLE NECESSITY4 0,EV]Y *ILD 
KN[S10 HE WROTE TO ,KUGELMANN1 0?AT A NATION :I* CEAS$ TO WORK1 
,I WILL NOT SAY = A YE>1 BUT EV5 = A FEW WEEKS1 W\LD P]I%4 ,EV]Y *ILD 
KN[S1 TOO1 ?AT ! MASSES ( PRODUCTS CORRESPOND+ TO ! DIFF]5T NE$S 
REQUIRE DIFF]5T & QUANTITATIVELY DET]M9$ MASSES ( ! TOTAL LABOR ( 
SOCIETY4 ,?AT ?IS NECESSITY ( ! DI/RIBUTION ( SOCIAL LABOR 9 
DEF9ITE PROPORTIONS CANNOT POSSIBLY BE DONE AWAY ) BY A P>TICUL> =M ( 
SOCIAL PRODUCTION BUT CAN ONLY *ANGE ! MODE ( ITS 
APPE>ANCE1 IS SELF-EVID5T4 ,NO NATURAL LAW CAN BE DONE AWAY 
)4 ,:AT CAN *ANGE 9 HI/ORICALLY DIFF]5T CIRCUM/ANCES IS ONLY ! 
=M 9 :I* !SE PROPORTIONAL DI/RIBUTIONS ( LABOR ASS]T 
!MSELVES4 ,& ! =M1 9 :I* ?IS PROPORTIONAL DI/RIBUTION ( LABOR 
ASS]TS ITSELF 9 A /ATE ( SOCIETY :]E ! 9T]CONNECTIONS ( SOCIAL LABOR 
>E MANIFE/$ 9 ! PRIVATE EX*ANGE ( ! 9DIVIDUAL PRODUCTS ( 
LABOR1 IS PRECISELY ! EX*ANGE-VALUE ( !SE PRODUCTS40.<#e.> 

,IT HAS BE5 SAID ?AT ?IS & SIMIL> /ATEM5TS BY ,M>X 0DISPROVE 
! G5]ALLY ACCEPT$ VIEW ?AT ,M>X REG>D$ ALL ECONOMIC LAWS AS 
BE+ ( AN HI/ORIC-RELATIVE *>ACT]40.<#f.> ,ACCORD+ TO ,OSC> ,LANGE1 = EXAMPLE1 ,M>X'S 
POSITION SEEMS TO HAVE BE5 0?AT ! ECONOMIC LAWS ( UNIV]SAL VALIDITY 
>E SO SELF-EVID5T ?AT !RE IS SC>CELY NE$ = A SPECIFIC SCI5TIFIC 
TE*NIQUE = !IR /UDY1 & ECONOMIC SCI5CE \<T TO CONC5TRATE1 
!RE=E1 UPON 9VE/IGAT+ ! P>TICUL> =M !SE LAWS ASSUME 9 A 
DEF9ITE 9/ITUTIONAL FRAMEWORK40.<#g.> ,BUT ALL ?AT ,M>X HAS SAID ON ?IS PO9T IS ?AT 
!RE >E NATURAL LAWS & SOCIAL NECESSITIES :I* NO ECONOMIC LAW 
CAN VIOLATE = V]Y LONG )\T DE/ROY+ SOCIETY4 ,NATURAL LAWS & SOCIAL 
NECESSITIES >E NOT 0UNIV]SAL ECONOMIC LAWS10 EV5 ?\<1 :5 
UNATT5D$ AS 9 CAPITALISM1 !Y MAY ASS]T !MSELVES AS MANIFE/ATIONS ( 
?AT SY/EM'S ECONOMIC LAW ( VALUE4 ,9 ! PREFACE TO ! SECOND $ITION 
( ! FIR/ VOLUME ( ,CAPITAL1 ,M>X QUOTES ) APPROVAL ! 
/ATEM5T ( A ,RUSSIAN REVIEW] ( HIS WORK1 TO ! EFFECT ?AT HE1 ,M>X1 
0DIRECTLY D5IES ?AT ! G5]AL LAWS ( ECONOMIC LIFE >E ONE 
& ! SAME1 NO MATT] :E!R !Y >E APPLI$ TO ! PRES5T OR ! PA/ 444 
,SU* AB/RACT LAWS DO NOT EXI/4 ,ON ! CONTR>Y 444 EV]Y HI/ORICAL P]IOD 
HAS LAWS ( ITS [N4 ,AS SOON AS SOCIETY HAS \TLIV$ A GIV5 P]IOD ( 
DEVELOPM5T1 & IS PASS+ OV] FROM ONE GIV5 /AGE TO ANO!R1 IT BEG9S TO 
BE SUBJECT ALSO TO O!R LAWS40.<#h.> 

,LIKE ANY O!R =M ( SOCIAL PRODUCTION1 VALUE PRODUCTION1 TOO1 9 
,M>X'S VIEW1 IMPLIES AN ALLOCATION ( SOCIAL LABOR 9 ACCORDANCE ) 
SOCIAL & NATURAL NECESSITIES4 ,= ,M>X1 ! LAW ( VALUE REPRES5T$ ! ONLY 
9DIRECT =M ?AT SOCIAL ORGANIZATION ( PRODUCTION C\LD TAKE 9 A 
COMMODITY-PRODUC+ SOCIETY2 BUT IT WAS ALSO1 AT ! SAME TIME1 A =M 
RE/RICT$ TO SU* A SOCIETY4 ,HE ILLU/RAT$ HIS VIEW ) ACTUAL & IMAG9>Y 
DESCRIPTIONS ( SIMIL> PROCESSES UND] NON-CAPITALI/ CONDITIONS4 ,! 
PRE-CAPITALI/ CONDITIONS ,M>X DEALT ) NE$ NOT CONC]N US H]E2 ) REG>D 
TO ! IMAG9>Y CONDITIONS1 ,M>X REF]R$ FIR/ TO ,ROB9SON ,CRUSOE1 :O KNEW 
?AT HIS LABOR1 :ATEV] ITS =M1 WAS NO?+ BUT HIS [N ACTIVITY TO SECURE 
HIS EXI/5CE4 ,?IS KN[L$GE COMPELL$ HIM TO APPORTION HIS TIME ACCURATELY 
BETWE5 DIFF]5T K9DS ( WORK4 ,LET US PICTURE1 ,M>X WROTE1 0A COMMUNITY 
( FREE 9DIVIDUALS1 C>RY+ ON !IR WORK ) ! MEANS ( PRODUCTION 9 
COMMON1 9 :I* ! LABOR-P[] ( ALL ! DIFF]5T 9DIVIDUALS IS 
CONSCI\SLY APPLI$ AS ! COMB9$ LABOR-P[] ( ! COMMUNITY4 ,ALL ! 
*>ACT]I/ICS ( ,ROB9SON'S LABOR >E H]E REPEAT$1 BUT ) ! 
DIFF]5CE1 ?AT !Y >E SOCIAL1 9/EAD ( 9DIVIDUAL 444 ,! TOTAL PRODUCT 
( \R COMMUNITY IS A SOCIAL PRODUCT4 ,ONE PORTION S]VES AS FRE% MEANS ( 
PRODUCTION & REMA9S SOCIAL4 ,BUT ANO!R PORTION IS CONSUM$ BY ! MEMB]S 
AS MEANS ( SUBSI/5CE4 ,A DI/RIBUTION ( ?IS PORTION AMONG !M IS 
CONSEQU5TLY NECESS>Y4 ,! MODE ( ?IS DI/RIBUTION WILL V>Y ) ! 
PRODUCTIVE ORGANIZATION ( ! COMMUNITY1 & ! DEGREE ( HI/ORICAL 
DEVELOPM5T ATTA9$ BY ! PRODUC]S4 ,WE WILL ASSUME1 BUT M]ELY = ! SAKE 
( A P>ALLEL ) ! PRODUCTION ( COMMODITIES1 ?AT ! %>E ( EA* 
9DIVIDUAL PRODUC] 9 ! MEANS ( SUBSI/5CE IS DET]M9$ BY HIS 
LABOR-TIME4 ,LABOR-TIME W\LD1 9 ?AT CASE1 PLAY A D\BLE ROLE4 ,ITS 
APPORTIONM5T 9 ACCORDANCE ) A DEF9ITE SOCIAL PLAN MA9TA9S ! PROP] 
PROPORTIONS BETWE5 ! DIFF]5T K9DS ( WORK TO BE DONE & ! V>I\S 
WANTS ( ! COMMUNITY4 ,ON ! O!R H&1 IT ALSO S]VES AS A MEASURE ( ! 
PORTION ( ! COMMON LABOR BORNE BY EA* 9DIVIDUAL & ( HIS %>E 9 ! 
P>T ( ! TOTAL PRODUCT DE/9$ = 9DIVIDUAL CONSUMPTION4 ,! SOCIAL 
RELATIONS ( ! 9DIVIDUAL PRODUC]S1 ) REG>D TO BO? !IR LABOR & ITS 
PRODUCTS1 >E 9 ?IS CASE P]FECTLY SIMPLE & 9TELLIGIBLE1 & ?AT ) 
REG>D NOT ONLY TO PRODUCTION BUT ALSO TO DI/RIBUTION40.<#i.> 

,NO 0LAW ( VALUE0 5T]S ?IS HYPO!TICAL >RANGEM5T2 IT IS 
DIRECTLY DET]M9$ BY ! CONSCI\S CONSID]ATIONS ( ! PRODUC]S4 ,IT IS 
ALSO TRUE ?AT ,M>X WROTE ?AT EV5 AFT] ! ABOLITION ( ! CAPITALI/ MODE 
( PRODUCTION1 0! DET]M9ATION ( VALUE CONT9UES TO PREVAIL 9 SU* A 
WAY ?AT ! REGULATION ( ! LABOR TIME & ! DI/RIBUTION ( ! SOCIAL 
LABOR AMONG ! V>I\S GR\PS ( PRODUCTION1 ALSO ! KEEP+ ( ACC\NTS 9 
CONNECTION ) ?IS1 BECOMES MORE ESS5TIAL ?AN EV]40.<#a.> ,BUT ! T]M VALUE 9 
?IS CONNECTION IS A M]E MANN] ( SPEE*2 =1 OBVI\SLY1 :AT ,M>X MEANT WAS 
?AT ! ABOLITION ( CAPITALISM DOES NOT 5D ! NE$ TO ALLOCATE LABOR 9 
ACCORDANCE ) SOCIAL REQUIREM5TS4 ,9 A SOCIALI/ SOCIETY1 ,5GELS WROTE ) 
GREAT] PRECISION1 0! PEOPLE WILL >RANGE EV]Y?+ V]Y SIMPLY 
)\T ! 9T]V5TION ( ! MU*-FAM$ 'VALUE'40.<#a#a.> 

,AS REG>DS ! ALLOCATION ( SOCIAL LABOR1 IT HAS ALSO BE5 SAID ?AT 
SOCIALISM M]ELY MAKES APP>5T1 & !RE=E MORE EFFECTIVE1 :AT 9 
CAPITALISM APPE>S AS ! 0REGULATORY =CE ( ! LAW ( VALUE40 
,FROM ?IS PO9T ( VIEW1 IT IS ONLY ! MY/IFICATION ( ! SOCIAL 
ORGANIZATION ( LABOR AS A 0LAW ( VALUE0 :I* COMES TO AN 5D 
) ! 5D ( CAPITALISM4 ,ITS DEMY/IFI$ RESULTS REAPPE> 9 A 
CONSCI\SLY-REGULAT$ ECONOMY4 ,ACCORD+ TO ,RUDOLF ,HILF]D+1 = 9/ANCE1 
! !ORY ( VALUE 0IS RE/RICT$ TO ! EPO* :]E9 LABOR & ! 
P[] :I* CONTROLS LABOR HAVE NOT BE5 CONSCI\SLY ELEVAT$ TO ! RANK ( A 
REGULATIVE PR9CIPLE ( SOCIAL METABOLISM & SOCIAL PR$OM9ANCE1 BUT :]E9 
?IS PR9CIPLE UNCONSCI\SLY & AUTOMATICALLY E/ABLI%ES ITSELF AS A MAT]IAL 
QUALITY ( ?+S 444 ,IT IS 444 BECAUSE LABOR IS ! SOCIAL BOND UNIT+ AN 
ATOMIZ$ SOCIETY1 & NOT BECAUSE LABOR IS ! MATT] MO/ TE*NICALLY 
RELEVANT1 ?AT LABOR IS ! PR9CIPLE ( VALUE & ?AT ! LAW ( VALUE IS 
5D[$ ) REALITY40.<#a#b.> ,BY DEF9+ LABOR AS ! PR9CIPLE ( VALUE1 
,HILF]D+ CONT9UES1 ,M>X RECOGNIZ$ 0! FACTOR BY :OSE QUALITY & 
QUANTITY1 BY :OSE ORGANIZATION & PRODUCTIVE 5]GY1 SOCIAL LIFE IS CAUSALLY 
CONTROLL$40.<#a#c.> ,= ?IS REASON ! VALUE PR9CIPLE IS 
0ID5TICAL ) ! FUNDAM5TAL IDEA ( ! MAT]IALI/ CONCEPTION ( 
HI/ORY40.<#a#d.> 

,APP>5TLY1 9 ,HILF]D+'S VIEW1 ! LAW ( VALUE FULFILLS ! 
FUNCTIONS ( ,ADAM ,SMI?'S 09VISIBLE H&40 ,BUT :]EAS 9 
B\RGEOIS !ORY IT IS ! EX*ANGE PROCESS :I* ASSURES ! PROP] 
DI/RIBUTION ( SOCIAL LABOR & ! PRODUCTS ( ?IS LABOR1 = ,HILF]D+ IT 
IS LABOR ITSELF & ! NECESS>Y DI/RIBUTION ( ?IS LABOR :I* REGULATE 
SOCIAL LIFE BEH9D ! BACK ( ! PRODUC]S4 ,9 EI!R CASE1 SOCIAL 
NECESSITIES ASS]T !MSELVES 9DEP5D5TLY ( HUMAN ACTIVITIES & =CE A 
DEF9ITE BEHAVIOR PATT]N UPON !M4 

,SOCIAL NECESSITY IS H]E SE5 AS A =CE :I*1 RECOGNIZ$ OR NOT1 OV]RULES 
ON ITS [N ACCORD ALL HUMAN ACTIVITIES BY :I* IT MAY BE CONTRADICT$4 ,= 
,HILF]D+1 SOCIAL NECESSITY TURNS 9TO A LAW ( VALUE 9 CAPITALISM BECAUSE 
SOCIAL RELATIONS BETWE5 P]SONS >E ATTA*$ TO ?+S & APPE> AS ?+S1 
AS COMMODITY RELATIONS1 & NOT AS :AT !Y REALLY >E1 NAMELY1 SOCIAL 
PRODUCTION RELATIONS BETWE5 P]SONS4 ,BY DO+ AWAY ) ! FETI%ISM ( 
COMMODITY PRODUCTIONS HE BELIEVES ! LAW ( VALUE W\LD BE REVEAL$ = :AT 
IT REALLY IS - ! NECESSITY TO REGULATE ! SOCIAL LABOR PROCESS 9 
ACCORDANCE ) SOCIAL NE$S DIRECTLY RECOGNIZ$ 9 ! NE$S ( P]SONS4 ,& 
IT IS ONLY 9 ?IS S5SE1 ACCORD+ TO ,HILF]D+1 ?AT ! LAW ( VALUE IS 
HI/ORICAL4 ,9 SOCIALISM1 IT WILL BE REPLAC$ BY A SOCIAL ORGANIZATION ( 
PRODUCTION & DI/RIBUTION BAS$ ON ! PR9CIPLE ( LABOR & ITS APPROPRIATE 
DI/RIBUTION4 ,?IS *ANGE1 H[EV]1 ONLY MAKES APP>5T & DIRECT :AT 
HI!RTO ASS]T$ ITSELF 9DIRECTLY & UNCONSCI\SLY 9 ! =M ( VALUE 
RELATIONS4 

,ACCORD+ TO ,P4 ,M4 ,SWEEZY1 ANO!R ,M>XI/1 IT IS 0ONE ( ! PRIM>Y 
FUNCTIONS ( ! LAW ( VALUE TO MAKE CLE> ?AT 9 A COMMODITY-PRODUC+ 
SOCIETY1 9 SPITE ( ! ABS5CE ( C5TRALIZ$ & COORD9AT$ 
DECISION-MAK+1 !RE IS ORD] & NOT SIMPLY *AOS4 ,NO ONE DECIDES H[ 
PRODUCTIVE EF=T IS TO BE ALLOCAT$ OR H[ MU* ( ! V>I\S K9DS ( 
COMMODITIES >E TO BE PRODUC$1 YET ! PROBLEM DOES GET SOLV$ & NOT 9 A 
PURELY >BITR>Y & UN9TELLIGIBLE FA%ION4 ,IT IS ! FUNCTION ( ! LAW ( 
VALUE TO EXPLA9 H[ ?IS HAPP5S & :AT ! \TCOME IS40 ,IT FOLL[S 
FROM ?IS1 ,SWEEZY SAYS1 0?AT 9 SO F> AS ! ALLOCATION ( PRODUCTIVE 
ACTIVITY IS BR\<T UND] CONSCI\S CONTROL1 ! LAW ( VALUE LOSES ITS 
RELEVANCE & IMPORTANCE2 ITS PLACE IS TAK5 BY ! PR9CIPLE ( PLANN+4 ,9 
! ECONOMICS ( A SOCIALI/ SOCIETY ! !ORY ( PLANN+ %\LD HOLD ! 
SAME BASIC POSITION AS ! !ORY ( VALUE 9 ! ECONOMICS ( A CAPITALI/ 
SOCIETY40.<#a#e.> 

,9 ,SWEEZY'S VIEW1 !N1 ! OPPOSITION ( VALUE PRODUCTION TO PLANN$ 
PRODUCTION IS ONE BETWE5 UNCONSCI\S & CONSCI\S CONTROL ( PRODUCTION4 ,! 
FUNCTIONS ( ! LAW ( VALUE1 I4E4 ! REGULATION ( 0EX*ANGE RATIOS 
AMONG COMMODITIES1 ! QUANTITY ( EA* PRODUC$1 & ! ALLOCATION ( ! 
LABOR =CE TO ! V>I\S BRAN*ES ( PRODUCTION10.<#a#f.> >E ALSO ! FUNCTIONS ( ! PLANN+ 
PR9CIPLE1 ) ?IS DIFF]5CE1 H[EV]1 ?AT ! LATT] IS ACCOMPANI$ BY 
KN[L$GE & =ESI<T & ! =M] IS NOT4 

,ACCORD+ TO ,M>X1 0ALL ECONOMY IS F9ALLY R$UCIBLE TO ! ECONOMY ( 
TIME40 .<#a#g.> ,BUT 
EV5 ?\< ! 0ECONOMICS ( TIME0 DET]M9E ! ALLOCATION ( 
LABOR 9 BO? SOCIALISM & CAPITALISM1 ! ALLOCATION ITSELF WILL BE DIFF]5T 
= ! TWO SY/EMS4 ,9 CAPITALISM IT IS DET]M9$ BY ! PRODUCTION ( 
CAPITAL AS EX*ANGE-VALUE2 9 SOCIALISM1 PRODUCTION IS SUPPOS$LY A 
VALUE-FREE PRODUCTION = USE4 ,! ALLOCATION ( LABOR 9 CAPITALISM 
IS !RE=E NOT ID5TICAL ) ! DI/RIBUTION ( LABOR ?AT PREVAILS 9 
O!R =MS ( SOCIAL PRODUCTION4 ,IT IS A CAPITALI/ICALLY-MODIFI$ =M ( 
?IS NECESSITY TO DI/RIBUTE LABOR 9 DEF9ITE PROPORTIONS4 ,& IT IS PRECISELY 
?IS MODIFICATION :I* MAKES ! ALLOCATION ( LABOR 9 CAPITALISM APPE> AS 
AN 0ECONOMIC LAW0 OP]AT+ BL9DLY LIKE A NATURAL LAW4 ,= ! 
NATURE ( ! PRODUCTION PROCESS DET]M9ES ! ALLOCATION ( LABOR )9 ! 
NECESSITIES SET UP BY ! 0ECONOMY ( TIME40 ,AL?\< VALUE 
PRODUCTION1 TOO1 RE/S ON SOCIAL LABOR & ! ECONOMICS ( TIME1 IT IS NOT 
D]IV$ FROM ! LABOR+ PROCESS ITSELF4 ,RA!R1 VALUE PRODUCTION D]IVES FROM 
! LABOR+ PROCESS AS ! SOCIAL RELATIONS ( CAPITALISM MODIFY & *ANGE 
IT4 ,:AT ,M>X DEF9ES AS ! 0RATIONAL & NATURALLY NECESS>Y10 
& AS ! 0LIFE PROCESS ( SOCIETY BAS$ ON ! MAT]IAL PROCESS ( 
PRODUCTION10 IS NEI!R AN ECONOMIC CATEGORY NOR AN 0ECONOMIC LAW 
( UNIV]SAL VALIDITY10 BUT SIMPLY ! ROCK-BOTTOM CONDITION ( ALL 
SOCIAL EXI/5CE & DEVELOPM5T4 

,DESPITE ,HILF]D+'S ASS]TION1 ! MAT]IALI/ CONCEPTION ( HI/ORY 
IS NOT ID5TICAL ) ! LABOR !ORY ( VALUE4 ,IT DISCUSSES SOCIAL 
DEVELOPM5T 9 G5]AL1 ( :I* CAPITALISM IS ONLY A SPECIAL CASE4 ,! LABOR 
!ORY ( VALUE REF]S TO ! SPECIFIC SOCIAL RELATIONS :I* OP]ATE UND] 
CAPITAL PRODUCTION4 ,CAPITAL PRODUCTION TRANS=MS ! LABOR+ PROCESS 9TO A 
VALUE-PRODUC+ PROCESS & ! SOCIAL RELATIONS 9TO ECONOMIC CATEGORIES4 ,! 
LABOR !ORY ( VALUE DOES REF] TO ! 9ESCAPABLE NE$ - COMMON TO ALL 
SOCIETIES - TO WORK & TO DI/RIBUTE ! SOCIAL LABOR 9 DEF9ITE 
PROPORTIONS4 ,BUT ?IS G5]AL NECESSITY IS MANIFE/$ 9 A LAW ( VALUE ONLY 9 
CAPITALISM1 & ONLY BECAUSE ! M>KET ECONOMY CANNOT DIVORCE ! 
VALUE-PRODUC+ PROCESS FROM ! PRODUCTION PROCESSES ITSELF4 ,! LAW ( VALUE 
DOES NOT OP]ATE AP>T FROM M>KET RELATIONS & IS NOT A NECESS>Y REQUIREM5T 
= ! SOCIAL ORGANIZATION ( LABOR4 ,BUT ! SOCIAL ORGANIZATION ( LABOR IS 
NECESS>Y = SOCIAL PRODUCTION1 & CAPITALISM F9DS ITS ANSW] TO ?IS NE$ 
9 ! LAW ( VALUE4 

,! TYPE ( REGULATION ( PRODUCTION BR\<T AB\T BY ! LAW ( VALUE IS 
ALSO SPECIFIC TO CAPITALISM4 ,! PROPORTIONAL ALLOCATION ( SOCIAL LABOR IS 
NECESS>Y 9 ALL SY/EMS ( SOCIAL PRODUCTION2 BUT IT WILL V>Y NONE!LESS 
) ! DIFF]5CES BETWE5 !SE SY/EMS4 ,EV5 ! MO/ G5]AL REQUIREM5TS 
( SOCIAL PRODUCTION1 :I* MAY BE VALID AT ALL /AGES ( SOCIAL DEVELOPM5T1 
TAKE ON A SPECIFIC HI/ORICAL *>ACT] :5 APPLI$ 9 DIFF]5T SOCIAL 
SY/EMS ( PRODUCTION4 ,?IS IS NOT M]ELY A QUE/ION ( CONSCI\S AS AGA9/ 
UNCONSCI\S REGULATION1 AS ,SWEEZY SEEMS TO IMPLY BY REF]R+ TO ! 
DISPLACEM5T ( ! LAW ( VALUE BY ! PLANN+ PR9CIPLE2 = ! REGULATION 
( PRODUCTION UND] ! PLANN+ PR9CIPLE WILL BE QUITE DIFF]5T FROM ?AT 
DET]M9$ BY ! LAW ( VALUE4 

,= ,M>X1 0EV5 ! MO/ G5]AL CATEGORIES1 :I* POSSESS UNIV]SAL 
VALIDITY JU/ BECAUSE ( !IR AB/RACT NATURE1 >E NONE!LESS HI/ORICALLY 
CONDITION$ & HAVE FULL VALIDITY ONLY =1 & )91 ! HI/ORICAL 
RELATIONS 9 :I* !Y >ISE40.<#a#h.> ,= 9/ANCE1 HE PO9T$ \T1 BO? ! FACT & 
! CONCEPT ( AB/RACT LABOR1 ( 0LABOR 9 G5]AL10 >E RA!R 
ANCI5T4 ,YET AB/RACT LABOR AS AN ECONOMIC CATEGORY IS A MOD]N 
ACCOMPLI%M5T4 ,! ,PHYSIOCRATS /ILL CONSID]$ AGRICULTURAL LABOR 
! ONLY K9D ( LABOR ?AT CREAT$ VALUE4 ,) ,ADAM ,SMI?1 H[EV]1 IT IS 
ALREADY LABOR AS SU*1 :E!R APPLI$ TO MANUFACTURE1 COMM]CE1 OR 
AGRICULTURE1 :I* YIELDS ! WEAL? ( NATIONS4 ,WEAL? IS BR\<T =? BY ALL 
K9DS ( LABOR1 BY LABOR 9 G5]AL4 ,FROM ?IS IT MAY APPE>1 ,M>X WROTE1 
0?AT F9ALLY !RE HAS BE5 F\ND ! AB/RACT EXPRESSION = ! 
SIMPLE/ & OLDE/ ( SOCIAL PRODUCTION RELATIONS ( G5]AL VALIDITY4 ,9 ONE 
S5SE ?IS IS TRUE1 ( C\RSE1 BUT 9 ANO!R S5SE NOT1 = ! MOD]N 
LACK ( 9T]E/ REG>D+ SPECIFIC TYPES ( LABOR PRESUPPOSES ! GREAT & 
ACTUAL V>IETY ( ! LABOR ACTIVITIES ( MOD]N CAPITALISM1 ( :I* NONE 
9 P>TICUL> CAN BE ADJUDG$ ! RUL+ TYPE ( LABOR444 ,LABOR AS SU*1 LABOR 
9 G5]AL1 ?IS SIMPLE AB/RACTION1 :I* IS ! />T+ PO9T & ! HI< 
PO9T ( B\RGEOIS ECONOMY1 APPE>S AS A PRACTICAL TRU? ONLY AS A 
CATEGORY ( MOD]N SOCIETY1 EV5 ?\< IT ALSO EXPRESSES AN ANCI5T & = 
ALL SOCIAL =MATIONS VALID RELATION%IP40.<#a#i.> 

,IT IS BECAUSE CAPITALISM IS ! HI!RTO MO/ DEVELOP$ ORGANIZATION ( 
SOCIAL PRODUCTION ?AT ITS ECONOMIC CATEGORIES ?R[ LI<T UPON PA/ SOCIAL 
PRODUCTION RELATIONS4 0,JU/ AS ! ANATOMY ( MAN IS A KEY TO ! ANATOMY 
( ! APE10 ,M>X SAID1 0SO B\RGEOIS SOCIETY IS A KEY TO ! 
PRODUCTION RELATIONS ( PREVI\S SOCIAL =MATIONS40 ,BUT NOT 9 ! S5SE 
( B\RGEOIS ECONOMIC !ORY :I*1 BY DISREG>D+ HI/ORICAL 
DIFF]5TIATIONS1 DISCOV]S 9 ALL PA/ SOCIETIES ONLY ITS [N ECONOMIC 
CATEGORIES4 ,! ECONOMIC CATEGORIES ( B\RGEOIS SOCIETY MAY LEAD TO ! 
APPREH5SION ( ! CONDITIONS ( EXI/5CE COMMON TO ALL SOCIAL =MATIONS2 
BUT !Y WILL NOT LEAD TO ! DISCOV]Y ( 0ECONOMIC LAWS ( UNIV]SAL 
VALIDITY40 ,! LABOR !ORY ( VALUE1 I4E4 ! EQUATION ( SOCIAL 
WEAL? 9 G5]AL ) SOCIAL LABOR 9 G5]AL1 :I* HAS ALSO YIELD$ 
9SI<T 9TO ! 0RATIONAL & NATURALLY NECESS>Y0 COMMON TO ALL 
SOCIAL =MATIONS1 WILL CONT9UE 9 ! FUTURE AS IT HAS 9 ! PA/ TO HAVE 
G5]AL VALIDITY 9 SO F> AS IT IS ITSELF AN EXPRESSION ( ! 
0RATIONAL & NATURALLY NECESS>Y10 BUT NOT 9 SO F> AS IT IS AN 
EXPRESSION ( ! SPECIFIC CAPITALI/ PRODUCTION RELATIONS4 

,AS A MEASURE ( VALUE & AN ALLOCATOR ( SOCIAL LABOR1 ! !ORY ( VALUE 
EVOLV$ =1 & )91 ! B\RGEOIS RELATIONS ( PRODUCTION4 ,IT IS 
SURPLUS-LABOR :I* LEADS TO CAPITAL1 & ?US IT IS LABOR TIME BY :I* SOCIAL 
WEAL? IS MEASUR$4 ,BUT ! =MATION ( WEAL? AS ! ACCUMULATION ( 
SURPLUS-VALUE IS JU/ A P>TICUL>1 HI/ORICALLY-CONDITION$ =M ( WEAL? 
PRODUCTION1 B\ND UP ) ! SPECIFIC CLASS & PROP]TY RELATIONS ( 
CAPITALISM4 ,AL?\< WEAL? AS CAPITAL CAN ONLY BE 9CREAS$ ?R\< ! 
9CREASE ( SURPLUS-LABOR AS SURPLUS-VALUE1 ?IS IS DUE NOT TO ! PROCESS ( 
MAT]IAL WEAL? PRODUCTION AS SU*1 BUT TO ! =M ?IS PROCESS TAKES ) 9 
! SOCIAL RELATIONS ( CAPITALISM4 ,CAPITAL >ISES FROM LABOR TIME1 & GR[S 
! FA/] ! MORE LABOR TIME BECOMES SURPLUS-LABOR TIME2 BUT REAL SOCIAL 
WEAL? DEP5DS ONLY ON ! ACTUAL PRODUCTIVITY ( LABOR & ON ! REAL 
CONDITIONS ( PRODUCTION1 & IS NOT NECESS>ILY TI$ TO APPROPRIAT$ 
QUANTITIES ( LABOR TIME4 ,= ,M>X & ,5GELS ECONOMIC VALUE IS 0A 
CATEGORY ?AT BELONGS TO COMMODITY PRODUCTION & DISAPPE>S ) ?IS MODE ( 
PRODUCTION1 AS IT DID NOT EXI/ PRIOR TO ?IS MODE ( PRODUCTION40.<#b.> ,! RUL+ ECONOMIC 
CATEGORIES 0>E ONLY AB/RACTIONS ( ! SOCIAL PRODUCTION RELATIONS & 
>E TRU?S ONLY :ILE !SE RELATIONS EXI/40 .<#b#a.> ,:ILE !Y EXI/1 H[EV]1 !Y 
DET]M9E ECONOMIC ACTIVITIES4 ,A CRITIQUE ( POLITICAL ECONOMY MU/ !RE=E 
/>T ) ! ANALYSIS ( VALUE RELATIONS4 

,IT IS ON ! M>KET ?AT ! PRODUCTS ( LABOR ACQUIRE A UNI=M SOCIAL 
/ATUS AS COMMODITIES4 ,?IS /ATUS IS DI/9CT FROM !IR V>I$ =MS ( 
EXI/5CE AS OBJECTS ( UTILITY4 ,ACCORD+ TO ,M>X1 ?IS DIVISION ( A PRODUCT 
9TO A USEFUL ?+ & A VALUE DOES NOT /EM FROM ! LABOR PROCESS AS ! 
METABOLISM BETWE5 MAN & NATURE1 BUT IS A SOCIAL ACCOMPLI%M5T4 ,IT 
GA9S PRACTICAL IMPORTANCE 0ONLY :5 EX*ANGE HAS ACQUIR$ SU* AN 
EXT5SION ?AT USEFUL >TICLES >E PRODUC$ = ! PURPOSE ( BE+ EX*ANG$1 
& !IR *>ACT] AS VALUE HAS !RE=E TO BE TAK5 9 ACC\NT1 BE=EH&1 
DUR+ PRODUCTION40.<#b#b.> ,! PRIVATE LABOR ( EA* PRODUC] IS SOCIALLY 
EQUAL TO ?AT ( EV]Y O!R PRODUC] ONLY BECAUSE ! MUTUAL EX*ANGEABILITY 
( ALL K9DS ( LABOR & USEFUL PRODUCTS IS AN E/ABLI%$ SOCIAL FACT4 ,& 
?IS 0EQUALIZATION ( ! MO/ DIFF]5T K9DS ( LABOR CAN BE ! RESULT 
ONLY ( AN AB/RACTION FROM !IR 9EQUALITIES1 OR ( R$UC+ !M TO !IR 
COMMON DE NOM9ATOR1 VIZ41 EXP5DITURE ( HUMAN LABOR-P[] 9 ! 
AB/RACT40.<#b#c.> 

,IT IS PRECISELY ! DIFF]5CE 9 ! V>I\S K9DS ( LABOR :I* IS ! 
NECESS>Y CONDITION = ! EX*ANGE ( COMMODITIES 0MEASUR$0 9 
T]MS ( AB/RACT LABOR-TIME4 ,! R$UCTION ( ALL K9DS ( LABOR1 REG>DLESS 
( SKILL & PRODUCTIVITY1 TO AB/RACT OR SIMPLE LABOR IS NOT ONLY A PO/ULATE 
( VALUE !ORY BUT IS ACTUALLY & CON/ANTLY E/ABLI%$ 9 ! EX*ANGE 
PROCESS4 0,A COMMODITY MAY BE ! PRODUCT ( ! MO/ SKILL$ LABOR1 BUT 
ITS VALUE1 BY EQUAT+ IT TO ! PRODUCTS ( SIMPLE & UNSKILL$ LABOR1 
REPRES5TS A DEF9ITE QUANTITY ( ! LATT] ALONE40.<#b#d.> ,FUR!RMORE1 IT IS NOT ! 
9DIVIDUAL'S PRODUCTIVITY :I* DET]M9ES ! VALUE ( ANY P>TICUL> 
COMMODITY BUT ! SOCIALLY-NECESS>Y1 OR AV]AGE1 PRODUCTIVITY REQUIR$ = ITS 
PRODUCTION2 & IT IS NOT ! 9DIVIDUAL'S P>TICUL> SKILL :I* F9DS 
CONSID]ATION 9 ! EX*ANGE PROCESS BUT ONLY ! SOCIAL EVALUATION ( ?IS 
SKILL4 ,& ?IS EVALUATION1 BY ! NATURE ( ! ?+1 CAN ONLY BE 
QUANTITATIVE - A MULTIPLICATION ( SIMPLE LABOR EXPRESS$ 9 MONEY 
T]MS4 

,CAPITALISM IS NOT A SOCIETY ( 9DEP5D5T PRODUC]S :O EX*ANGE !IR 
PRODUCTS 9 ACCORDANCE ) ! SOCIAL-AV]AGE LABOR TIME 9CORPORAT$ 9 !M3 
IT IS A SURPLUS-VALUE PRODUC+ ECONOMY 5GAG$ 9 ! COMPETITIVE PURSUIT ( 
CAPITAL4 ,LABOR-P[] IS A COMMODITY2 ITS VALUE 7EX*ANGE-VALUE7 IS DET]M9$ 
BY ITS PRODUCTION & REPRODUCTION REQUIREM5TS MEASUR$ 9 T]MS ( LABOR 
TIME4 ,ITS USE-VALUE HAS ! CAPACITY TO PRODUCE1 BESIDES ITS [N 
EX*ANGE-VALUE1 A SURPLUS-VALUE4 ,?IS TYPE ( PRODUCTION IS POSSIBLE BECAUSE 
! WORK]S >E DIVORC$ FROM ! MEANS ( PRODUCTION1 & >E ?US =C$ TO 
SELL !IR LABOR-P[] TO ! [N]S ( CAPITAL4 ,OBVI\SLY1 ! 
0EQUAL0 EX*ANGE BETWE5 CAPITAL & LABOR 9 T]MS ( VALUE IS 
BAS$ ON ! FACT ?AT P>T ( ! SOCIAL LABOR IS NOT EX*ANG$ AT ALL1 BUT IS 
SIMPLY APPROPRIAT$ BY ! BUY]S ( LABOR-P[]4 

,BUT :E!R APPROPRIAT$ OR EX*ANG$1 ! :OLE SOCIAL PRODUCT 5T]S ! 
M>KET 9 ! =M ( COMMODITIES4 ,:ATEV] P>T ( IT CANNOT BE SOLD HAS NO 
VALUE1 EV5 ?\< LABOR HAS BE5 EXP5D$ ON IT4 ,! UNSOLD P>T ( SOCIAL 
LABOR W\LD BE A WA/E ( SURPLUS-LABOR2 !RE SIMPLY W\LD BE LESS 
SURPLUS-VALUE ?AN1 !RE WAS SURPLUS-LABOR4 ,TO REALIZE ALL ! PRODUC$ 
SURPLUS-VALUE1 IT IS NECESS>Y TO PRODUCE COMMODITIES = :I* !RE IS A 
SUFFICI5T DEM&4 ,BY TRIAL & ]ROR 9DIVIDUAL CAPITALI/S WILL ADJU/ !IR 
PRODUCTION TO ! *ANG+ SOCIAL M>KET DEM&4 

,LABOR & LABOR-TIME IS EV]Y 5TREPR5EUR'S PREOCCUPATION1 EV5 IF 
HIS EYES FOCUS ON M>KET PRICES AS HE ATTEMPTS TO MAXIMIZE HIS PR(ITS4 ,= 9 
ORD] TO GET !SE PR(ITS1 HE MU/ FIR/ MAXIMIZE ! SURPLUS-LABOR 9 ! 
PRODUCTION PROCESS4 ,HE CAN DO SO EI!R BY L5G!N+ ! WORK+ TIME OR BY 
9CREAS+ ! 9T5SITY & PRODUCTIVITY ( LABOR DUR+ A GIV5 TIME4 ,9 
EI!R CASE1 ! WORK]S' EX*ANGE-VALUE WILL BE AT A M9IMUM & 
SURPLUS-VALUE WILL !RE=E BE AT A MAXIMUM = A GIV5 TOTAL EXP5DITURE ( 
LABOR-P[]4 ,:AT HOLDS = ! 9DIVIDUAL 5TREPR5EUR HOLDS ALSO = SOCIETY 
AS A :OLE3 \T ( TOTAL PRODUCTION1 A M9IMUM ( WAGES WILL YIELD A MAXIMUM ( 
PR(ITS4 

#a4 ,PREFACE TO ,M>X'S ,! ,POV]TY ( ,PHILOSOPHY1 ,MOSC[1 P4 #h4 

#b4 ,G4 ,LI*!IM1 ,M>XISM1 ,LONDON1 #a#i#f#a1 P4 #a#g#e4 

#c4 ,K4 ,M>X1 ,! ,POV]TY ( ,PHILOSOPHY1 P4 #aba 

#d4 ,K4 ,M>X1 ,CAPITAL1 ,VOL4 ,I1 P4 #ib 7,K]R $47 

#e4 ,M>X-,5GELS1 ,SELECT$ ,CORRESPOND5CE1 ,MOSC[1 #a#i#e#c1 P4 

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#g4 ,IBID41 P4 #a#c#b4 

#h4 ,CAPITAL1 ,VOL4 ,I1 P4 #b#c4 

#i4 ,IBID41 P4 #i 

#a4 ,CAPITAL1 ,VOL4 ,I,I,I1 P4 #iib 

#a#a4 ,F4 ,5GELS1 ,ANTI-,DUHR+1 ,*ICAGO1 #a#i#c#e1 P4 #c#b#e4 

#a#b4 ,R4 ,HILF]D+1 0,BOHMM-,BAW]K'S ,CRITICISM ( ,M>X10 9 ,K>L ,M>X & ! ,CLOSE ( HIS ,SY/EM1 ,NEW ,YORK1 #a#i#d#i1 PP4 #a#c#c1 #a#c#d4 

#a#c4 ,IBID4 

#a#d4 ,IBID4 

#a#e4 ,P ,M4 ,SWEEZY1 ,! ,!ORY ( ,CAPITALI/ ,DEVELOPM5T1 ,NEW ,YORK1 #a#i#d#b1 P4 #e#c4 

#a#f4 ,IBID4 

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#a#h4 ,IBID1 P4 #b#e4 

#a#i4 ,IBID4 

#b4 ,5GELS TO ,K4 ,KAUTSKY1 ,AUS D] ,FRUHZEIT DES ,M>XISMUS1 ,PRAGUE1 #a#i#c#e1 P4#a#d#e4 

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,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
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