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Towards a General Theory of Capitalism: Suggestions from Chapters 23 and 27

In: Marxian Economics: A Reappraisal

Author

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  • Ernesto Screpanti

Abstract

In this chapter two theories of capitalism are confronted. The first claims that private ownership of the means of production is the basic institution of capitalism and that the two opposing classes — capitalists and workers — must be defined on the ground of the distinction between ownership and propertylessness. This theory will be called the ‘S-theory’ since, although it predominates in Marx’s and orthodox Marxist thought, it originated with Adam Smith.

Suggested Citation

  • Ernesto Screpanti, 1998. "Towards a General Theory of Capitalism: Suggestions from Chapters 23 and 27," Palgrave Macmillan Books, in: Riccardo Bellofiore (ed.), Marxian Economics: A Reappraisal, chapter 7, pages 109-123, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26118-5_7
    DOI: 10.1007/978-1-349-26118-5_7
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