Ebook: Capital

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This book is one of the most ambiguous books ever written, mired in confusion, contradiction, and ultimately mysticism. There's about as much economics in this book as there is in the Dao Di Jing. Its ultimate virtue, however, is that Marx unwittingly puts to sleep the labor theory of value, first put forth by Adam Smith. He logically depicts what a world should look like if classical doctrines were correct; unfortunately, his conclusions are entirely at odds with the real world--it is the ultimate reductio ad absurdum. Furthermore, this book is responsible for the murder and starvation of millions, as capital accumulation and the division of labor must necessarily disintegrate without private ownership over the means of production. Capital is heterogeneous, and complementary, and as such, requires disseminated ownership and a dynamic process of trial and error on the part of the capitalists, along with a functional price mechanism coordinating production. It was known, long before Smith fused his own personal Calvinist beliefs with economics, that value does not exist in the material world, but rather is confined to the subjective preferences of individuals. The mixture of religion and economics inevitably breeds inescapable confusion and contradiction, as demonstrated by Ricardo who proclaimed, "I cannot get over the difficulty of the wine which is kept in the cellar for three or four years [i.e., while constantly increasing in exchange value], or that of the oak tree, which perhaps originally had not 2 s. expended on it in the way of labour, and yet comes to be worth £100." The idea that labor magically creates value, on its own, is something even the most socialistically inclined economic student is unable to take seriously. Furthermore, the labor theory of value does not allow for mutually beneficial exchange, and therefore cannot explain why voluntary exchange takes place, and ultimately why prices emerge. Without the labor theory of value, you don't have exploitation, and therefore can't accept his dialectic. Furthermore, the so-called tension between the forces and relations of production are, of course, entirely illusory. There is no contradiction, as the laborers demand capital in order to increase their productivity, and therefore their remunerations. The empirical evidence supporting this claim is torrential, as nations with plentiful and dynamic capitalists (and relatively minimal government interference) have the highest income per capita, and standard of living. And nations, who have taken this horrific book seriously, are forever trapped in poverty and face unspeakable human right violations. The dramatic and inescapable contradiction which plagues this book is that, on the one hand, Marx focuses on social relation, and yet, at the same time, this book ultimately seeks to end all voluntary social interaction. Don't waste your money on this incomprehensible and barren book.