The great economist takes on Karl Marx, and his fundamental failure to understand the workings of the capital market and its relationship to value. The criticism was devastating, so much so that a leading Marxist responded, and thus herein is Rudolf Hilferding’s response. It is very weak, as you will undoubtedly notice.
The book is introduced by the socialist Paul Sweezy, and he too tries to rescue the Marxists from the corner into which Böhm-Bawerk drives them. So this book makes for great drama, and it is a pleasure to see the Austrian come out on top despite every effort by the compiler of the book to prevent it.
No content found
Eugen von Böhm-Bawerk was a leading member of the Austrian School of economics. His major contributions were in the areas of capital and interest and helped pave the way for modern interest theory. His criticisms of Marx’s economics and exploitation theory have not been refuted to this day.
London, T.F. Unwin, 1898, written 1896.
