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An Austrian Perspective on the History of Economic Thought

13. The Marxian system, II: the economics of capitalism and its inevitable demise

13 The Marxian system, II: the economics of capitalism and its inevitable demise

13.1 The labour theory of value

13.2 Profit rates and ‘surplus value’

13.3 The ‘laws of motion’, I: the accumulation and centralization ofcapital

13.4 The ‘laws of motion’, II: the impoverishment of the workingclass

13.5 The ‘laws of motion’, III: business cycle crises

13.5.1 Underconsumptionism

13.5.2 The falling rate of profit

13.5.3 Disproportionality

13.6 Conclusion: the Marxian system

13.7 Notes

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