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Against the Market : Political Economy, Market Socialism and Marxist Critique - David McNally

Against the Market

Political Economy, Market Socialism and Marxist Critique

Paperback

Published: 12th December 1996
Ships: 7 to 10 business days
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$64.95

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.

"By exposing the historical and theoretical roots of 'market socialism, ' David McNally demonstrates in a particularly lucid and powerful way the fundamental flaws and contradictions in that concept."--Ellen Meiksins Wood

Preface
Introductionp. 1
Origins of Capitalism and the Marketp. 5
Creating the Market in Labour: from Feudalism to Capitalismp. 7
From Petty Production to the Factory Systemp. 24
Market Competition and Proletarianizationp. 30
The Working Class and the Industrial Revolutionp. 34
Justice and Markets: the Ambiguous Legacy of Adam Smithp. 43
Virtue and Commerce: against Mandevillep. 46
Sympathy, Communication and Exchangep. 50
Dependence, Independence and Wage-Labourp. 53
Exploitation, Equity and the Marketp. 55
Moral Economy and the Marketp. 58
The Economics and Politics of Social Classesp. 59
The Malthusian Moment: Political Economy versus Popular Radicalismp. 62
Popular Radicalism and the Poverty Debatep. 63
Alternatives to Radicalism: 'Humanitarianism' and the Poverty Debatep. 71
Against the Right of Subsistence: Malthus's First Essay on Populationp. 75
Poor Laws Under Attack: Later Editions of the Essay on Populationp. 78
The Malthusian Legacy, 1: Anglican Social Thoughtp. 91
The Malthusian Legacy, 2: Classical Political Economyp. 93
The Malthusian Legacy, 3: The Poor Law Debatep. 97
Exploitation, Inequality and the Market: The Making of Popular Political Economyp. 104
Popular Political Economy: the Forerunnersp. 106
Owenism and Political Economyp. 112
Popular Political Economy: Labour, Exchange, Money, Co-operationp. 117
From Theory to Practice: the Labour Exchange Experimentp. 133
'Proudhon Did Enormous Mischief': Marx's Critique of the First Market Socialistsp. 139
Proudhon, Property and Political Economyp. 139
Marx and Proudhon: from First Encounter to Poverty of Philosophyp. 146
The Poverty of Philosophy: Petty Bourgeois Socialism under Attackp. 150
A Battle Continued: Marx's 'Economy' and the Critique of Proudhonp. 154
Capital: 'The Real Battle Begins'p. 159
Beyond the Marketp. 170
Wage-Labour, Accumulation and Market Regulationp. 175
The Political Economy of the Working Classp. 184
Five Objections: Individuals, Needs, Abundance, Plan and Transitionp. 188
The Question of Calculationp. 197
Socialized Markets or Market Reformism?p. 213
Conclusionp. 218
Notesp. 225
Indexp. 255
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780860916062
ISBN-10: 0860916065
Audience: BAG
Format: Paperback
Language: English
Number Of Pages: 276
Published: 12th December 1996
Publisher: Verso Books
Country of Publication: GB
Dimensions (cm): 21.59 x 13.97  x 2.54
Weight (kg): 0.34
Edition Number: 1