Mter the impressive collapseoftheSovietUnionand the Eastern European socialist countries, it is more pertinent than ever to recover the scientific legacy ofKarl Marx. This legacy is mainly (if not exclusively) constituted by his work in the field of eco nomic theory. Marx's economic theory was intended by his au thor as a scientific objective theory about the nature ofcapitalist economies, a theory that was going to serve as the foundation ofthe critique ofbourgeois political economy. His "laws" about the demise ofcapitalism, like the tendency ofthe profit rate to fall or the lawofthe...

Written before the impressive collapse of the socialist system in Eastern Europe, this book offers a quite objective and serious systematic analysis of the Marxian labor theory of value, Marx's main scientific legacy. After reconstructing the prototype' of this theory -- which is the theory as it was left by Marx himself in Capital -- the author proceeds to a careful and detailed analysis of its foundational problems, taking into account Bohm-Bawerk's important criticisms. After introducing advanced contemporary formal tools, the author proceeds to a thorough discussion of the dialectical...