Why was Marx wrong? by Lawrence Eubank is an academic and scholarly examination and refutation of the book by Karl Marx, who was highly critical of capitalism, Capital: a critique of political economy. The 500 pages of Eubank’s book are intended to serve as a convincing argument pointing out the inaccuracies in Marx’s reasoning and his central charge that capitalism serves to enrich the capitalists by “exploiting workers, by extracting ‘surplus value’.” ‘ not paid from them”. .” That is exactly what Why Marx Was Wrong does, thoroughly refuting Marx’s central argument.
To completely refute Karl Marx’s argument and point out the philosophical rot inherent in it, Lawrence Eubank takes a look at many of Marx’s claims in his own work and explains why each is wrong. To help support his point-by-point refutation of Marx, Eubank cites other authors who have a similar pro-capitalist outlook.
Eubank begins Why Marx Was Wrong by reflecting on why millions of people around the world still believe that Marx’s central argument is valid, even after, as Eubank puts it, “the total collapse of communism.” He adds that Marx’s central argument against capitalism is still widely accepted, “even in countries that were never subject to communist rule.”
Lawrence Eubank deftly unravels Karl Marx’s central argument in Why Marx Was Wrong, beginning by noting that even in the first sentence of Marx’s book, he relies on “unspoken assumptions” to make his case against capitalism. In other words, he makes certain assumptions even in the first sentence of his book and expects his readers to blindly accept them as established facts, without backing them up to add credibility to his argument.
The first sentence of Karl Marx’s book Capital: a critique of political economy It deals with the assumption that “The wealth of those societies in which the capitalist mode of production prevails is presented as ‘an immense accumulation of commodities’, their unit being a single commodity”. Marx, taking that assumption as an accurate statement of fact, then writes that “Our investigation must therefore begin with the analysis of a commodity.”
Both Karl Marx and Lawrence Eubank write about economic systems that have been tried, tested, and have supporters and detractors who often support or oppose one point of view or another without really knowing the basic principles and arguments that have been put forward in favor of them. and against. against capitalism and communism. That could be due, at least in part, to the fairly dry nature of the economy, in general, although it is an extremely interesting topic for people who want to know more about the various economic policies followed by countries around the world and why certain countries appear to be more economically successful than others.
One of the most entertaining comparisons that Lawrence Eubanks makes is between the reasoning of Marx and that of Adam Smith. The author calls Marx’s labor theory one that is typical of “paranoid conspiracy theories,” while Smith’s theory, which he writes is more of a “labour, rents, and profits” theory, is based on an observation of facts. Eubank calls Smith “a scientist or investigator of facts” and Marx “a medieval scholastic.”
In Why Marx Was Wrong, author Lawrence Eubank takes several assumptions Marx made and criticizes them, point by point. By criticizing Marx’s central argument in this way, he probably makes the subject as entertaining as possible, although reading 500 pages of a refutation of Marx’s argument requires a commitment to wanting to know the exact details of why Marx’s reasoning Marx is flawed. For anyone who has ever been interested in economic theories and/or wondered why Marx’s central argument against capitalism has continued to persist, Why was Marx wrong? is a must read.