3 Review(s)

“Value, Price and Profit” is a transcript of an English-language lecture series delivered to the First International Working Men’s Association on June 20 and 27, 1865 by Karl Marx. In this polemic, Marx sought to refute the theoretical basis for the economic policy of Ricardian socialist John Weston. Weston said that “(1) that a general rise in the rate of wages would be of no use to the workers; (2) that therefore, etc., the trade unions have a harmful effect”. In the process of criticizing Weston, Marx’s explicates his theories of surplus value and the falling rate of profit in simple and concise English.