Ep. 1521 Why Economists Never Took Marx Seriously

The Tom Woods Show

Tom Woods

Politics, Government, News

4.8 • 3.4K Ratings

🗓️ 24 October 2019

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's fashionable to like Karl Marx again, so it's worth remembering that economists dismissed him from the beginning. The Marginal Revolution of the early 1870s upended the foundations of Marxism, and Marx himself never seems to have recognized what happened. Phil Magness, editor of a new volume of Marx's writings, joins me to discuss this.

Transcript

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0:00.0	The Tom Woods Show, Episode 1521.
0:03.4	Prepare to set fire to the index card of allowable opinion.
0:07.9	Your daily dose of liberty education starts here.
0:11.5	The Tom Woods Show.
0:13.5	Folks, you know you should be eating good quality food that's tailored to your dietary
0:18.4	needs and goals, and you can do that with kettlebell kitchen.
0:21.5	Go to kettlebellkitchen.com and enter code woods for $50 off your first two orders for
0:26.7	new customers.
0:27.7	Hi, everybody.
0:28.7	Tom Woods here.
0:29.7	Very glad to be joined once again by Phil Magnus, who is Senior Research Fellow at the American
0:35.6	Institute for Economic Research.
0:38.0	You can check them out at a-i-e-r.org.
0:41.8	And his latest project, the guy never stops working, is a collection of writings called
0:47.4	the best of Karl Marx.
0:50.0	But what's very, shall we say, subversive about the project, is the introduction that
0:57.3	he wrote for it.
0:58.6	Because the introduction just flattens all the selections that follow.
1:03.3	It undermines Marxism completely and makes the point, which no doubt we'll get into in
1:09.0	this conversation.
1:10.0	We're about to have that Marx at the time, and since, has not actually been taken seriously
1:15.5	by economists.
	...

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