AGAINST THE MARKET: POLITICAL ECONOMY, MARKET SOCIALISM AND THE MARXIST CRITIQUE BY DAVID MCNALLY
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Review “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 About the Author David McNally is Professor of Political Science at York University, Toronto. He is author of Political Economy and the Rise of Capitalism and Against the Market: Political Economy, Market Socialism and the Marxist Critique.
AGAINST THE MARKET: POLITICAL ECONOMY, MARKET SOCIALISM AND THE MARXIST CRITIQUE BY DAVID MCNALLY PDF
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AGAINST THE MARKET: POLITICAL ECONOMY, MARKET SOCIALISM AND THE MARXIST CRITIQUE BY DAVID MCNALLY PDF
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. ● ● ● ● ● ● ● ● ●
Sales Rank: #1820746 in Books Brand: Brand: Verso Published on: 1993-12-17 Released on: 1993-12-17 Original language: English Number of items: 1 Dimensions: 8.00" h x .60" w x 5.00" l, .67 pounds Binding: Paperback 276 pages
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Review “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 About the Author David McNally is Professor of Political Science at York University, Toronto. He is author of Political Economy and the Rise of Capitalism and Against the Market: Political Economy, Market Socialism and the Marxist Critique. Most helpful customer reviews
0 of 0 people found the following review helpful. This is a useful critique of market socialism with a lot of good ... By John C. Landon This is a useful critique of market socialism with a lot of good history of the subject, tracing it back as far as Adam Smith, no less. But the larger question remains of what economic system is to be provided for a socialist or communist successor to the market. We cannot rule out the entire universe of possible systems, among them systems of communism that expropriate the bourgeoisie but leave open the economy to match. There is completely satisfying argument thus against all forms of market socialism. But this is a useful history and set of challenges to those who consider the complexities, not fully resolved by marxists, of any form of postcapitalism. The reader might consider the issues of 'democratic market neo-communism' explored at darwiniana.com and in the reviewer's Last and First Men (Amazon). 9 of 9 people found the following review helpful. Marxism Against Market Socialism By M. A. Krul David McNally's polemic "Against the Market" is a Marxist attack on the notion of 'market socialism', that is, the idea that socialism as understood by Marxists is compatible with a society reproduced through market relations. Somewhat oddly perhaps for a work of this kind, the largest part of it is a history of political economy, explaining the different understandings of the market and its social function developed by such luminaries as Adam Smith, Thomas Malthus, and Proudhon, but also the attempts of the very early socialists (Owen, Hodgskin, William Thompson etc) to formulate an economic counter-understanding. While the critical review of the classical economists has been done many times, and is done no worse here than anywhere else, especially fascinating is the detailed consideration of the early socialists of the 1820s-1840s. Their creation of different kinds of labour voucher markets, collective and co-operative enterprises, and many more such phenomena on the basis of their own inchoate critique of political economy provides an intriguing backdrop to Marx and Engels' own work in that field. It however also demonstrates, as McNally intends, the flaws in such undertakings: one cannot as it were market one's way to socialism within a capitalist society, and no amount of talk about labour vouchers, work-time currencies and so forth can alleviate that. At the same time, those attempts are often as McNally tells them genuinely inspiring, and their failures therefore provide important lessons for anti-capitalist organizing and transition. This chapter in particular is really worth a book of its own. The core chapter of the book however is Ch. 6, "Beyond the Market", which contains the author's actual critique of market socialist thought in contemporary times. David McNally points here not just to Marx's critique of the early market socialists and their labor vouchers, but also to those contemporary people who argue that socialism would necessarily still have the law of value in operation (Stalin, Nove), that the so-called 'calculation problem' as developed by Von Mises and Von Hayek is applicable and therefore market socialism the only option (Blackburn), the Yugoslavian form of market socialism, and so on. McNally provides an excellent systematic critique of such notions. He notes how the pervasiveness of externalities destroys the idea that 'free market' prices are socially useful informational constructs, Marx's argument that the generalization of commodity production under circumstances of competition itself is the root of capitalist exploitation and alienation rather than mere property relations or unequal exchange, and the immediate contradiction between the social value of competition and the social value of 'the full development of each as a prerequisite for the full development of all'. He even, quite rightly, gives some concrete ideas about the form a non-capitalist form of
distribution might take: pointing for example to the capitalist development of automated inventory systems (like Amazon uses) and just-in-time delivery which are superior at distributional efficiency without inherently requiring capitalism, and the essential difference between internal or 'planning prices' and the prices of production created by the capitalist market process. McNally does seem to waffle a little bit on whether there would in a socialist society not be a market for unique or luxury goods; of itself this would seem to do little harm, but here a discussion of Marx's theory of money and its implications for such 'socialist markets' (as opposed to market socialism) would have been welcome. On the whole, David McNally is right to criticize market socialism as an unconscionable retreat by socialists from the full implications of Marx's critique of political economy, and to see it as the result of a certain intellectual despair created by the fall of the USSR and of communism in China. Because the intellectual now lacks the confidence to oppose the ideology of markets while still being 'sophisticated', and because the Western labor unions and labor organizations have long retreated into a complacent and labor aristocratic reformism, the room for a thorough Marxist critique of capitalist logic beyond the bounds of mere distributional questions has narrowed. This book is therefore a very welcome contribution. 10 of 12 people found the following review helpful. Excellence in explaining what can be "boring" By Denise Redmond I chose this book for a book review for my Political Theory class. I love to read and write about marxism and market socialism, but every other book I've read has been boring, until I read this book. This book has an amazingly fresh approach to market socialism and political economy. I highly recommend this book to anyone who wants to look at a different side of Marxism and socialism; moreover, I highly recommend this book to any political science students who want an excellent summertime read to keep the brain in order ;) very good book! buy it! See all 3 customer reviews...
AGAINST THE MARKET: POLITICAL ECONOMY, MARKET SOCIALISM AND THE MARXIST CRITIQUE BY DAVID MCNALLY PDF
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Those are some of the perks to take when obtaining this Against The Market: Political Economy, Market Socialism And The Marxist Critique By David McNally by online. But, just how is the means to obtain the soft documents? It's quite right for you to visit this web page since you could get the web link web page to download the publication Against The Market: Political Economy, Market Socialism And The Marxist Critique By David McNally Merely click the web link offered in this article and goes downloading. It will certainly not take significantly time to obtain this book Against The Market: Political Economy, Market Socialism And The Marxist Critique By David McNally, like when you require to go with book store.
