Abstract

A careful and tough-minded analysis of Marxian economics from within. Wolfson treats Marx's economic theory as worthy of serious discussion and not just as an obsolete curiosity in the history of economic thought. His thorough analysis shows what elements in the theory are empirically confirmable and what elements are not. Ultimately, Wolfson feels Marx fails to make a convincing case for his most critical prediction: the progressive immiseration of the proletariat and the consequent break-up of the capitalist form of social organization.--J. T.