9780860916062-0860916065-Against the Market: Political Economy, Market Socialism and the Marxist Critique

Against the Market: Political Economy, Market Socialism and the Marxist Critique

ISBN-13: 9780860916062
ISBN-10: 0860916065
Author: McNally, David
Publication date: 1993
Publisher: Verso
Format: Paperback 276 pages
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Book details

ISBN-13: 9780860916062
ISBN-10: 0860916065
Author: McNally, David
Publication date: 1993
Publisher: Verso
Format: Paperback 276 pages

Summary

Acknowledged authors McNally, David wrote Against the Market: Political Economy, Market Socialism and the Marxist Critique comprising 276 pages back in 1993. Textbook and eTextbook are published under ISBN 0860916065 and 9780860916062. Since then Against the Market: Political Economy, Market Socialism and the Marxist Critique textbook was available to sell back to BooksRun online for the top buyback price or rent at the marketplace.

Description

In this innovative book, David McNally develops a powerful critique of market socialism, by tracing it back to its roots in early political economy. He ranges from Adam Smith’s attempt to reconcile moral philosophy with market economics to Malthus’s reformulation of Smith’s political economy which made it possible to justify poverty as a moral necessity. Smith’s economic theory was also the source of an attempt to construct a critique of capitalism derived from his conception of free and equal exchange governed by natural price. This Smithian forerunner of today’s market socialism sought to reform the market without abolishing the social relations on which it was based. McNally explores this tradition sympathetically, but exposes its fatal flaws.

The book concludes with an incisive consideration of efforts by writers such as Alec Nove to construct a “feasible” model of market socialism. McNally shows these efforts are still plagued by the failure of early Smithian socialism to come to grips with the social foundations of the market, the commodification of labor-power which is the key to market regulation of the economy. The results, he argues, are neither socialist nor workable.

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