Mon, 11 June 2018
There are plenty of arguments against Marxism, and we make several in this episode. But there's one, by Eugen von Bohm-Bawerk, that crushes Marx. That's because it stipulates, for the sake of argument, that Marx is correct about the labor theory of value and so much else in his system. And it shows that even then, his system comes up against a contradiction that cannot be resolved. I welcome G.P. Manish, associate professor of economics at the Sorrell College of Business at Troy University, back to the show.