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Marx's Democratic Critique of Capitalism and Its Implications for a Viable Socialism
Owl of Minerva
  • C. David Schweickart, Loyola University Chicago
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Hegel Society of America

This paper argues that Marx’s critique of capitalism is not, as commonly believed, a critique of the “free market.” I argue that the “market” under capitalism should be understood as a three-fold market—for goods and services, for labor and for capital. I argue that Marx’s critique is essentially a critique of the latter two markets, and not the first. Hence theoretical space opens up for “market socialism.” I proceed to elaborate briefly what specific institutions might comprise an economically viable socialism that would not be vulnerable to Marx’s critique.


Author Posting. © Hegel Society of America, 2014. This is the author's version of the work. It is posted here by permission of the Hegel Society of America for personal use, not for redistribution.The definitive version was published in the Owl of Minerva, Volume 46, Issue 2, 2014.

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Creative Commons Attribution-Noncommercial-No Derivative Works 3.0
Citation Information
C. David Schweickart. "Marx's Democratic Critique of Capitalism and Its Implications for a Viable Socialism" Owl of Minerva Vol. 46 Iss. 1 (2014)
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