Chapter 8

KARL MARX AND THE ECONOMICS OF SOCIALISM

First comprehensive statement of the materialist conception of history by Marx--_La Misère de la Philosophie_, a criticism of Proudhon--Marx's first essay in economic science--His frank recognition of the Ricardians--Marx in England becomes familiar with the work of the Ricardians from whom he is accused of "pillaging" his ideas--Criticisms of Menger and others--Marx expelled from Germany and France--Removal to London--The struggle with poverty--Domestic life--_Capital_ an English work in all essentials--The Ricardians and their precursors--Superior method and insight of Marx--The sociological viewpoint in economics--Mr. W. H. Mallock's criticisms of Marx based upon misrepresentation and misstatement--Marx on the Gotha Programme of the German Social Democracy--Marx on the "ability of the directing few"--No ethical deductions in the Marxian theory--"Scientific Socialism," criticisms of the term 201