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Fourth International

International Viewpoint, the monthly English-language magazine of the Fourth International, is a window to radical alternatives world-wide, carrying reports, analysis and debates from all corners of the globe. Correspondents in over 50 countries report on popular struggles, and the debates that are shaping the left of tomorrow.

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  • The Basic Theories of Karl Marx

    Marx’s Theory of Rent

    30 December 2003, by Ernest Mandel

    The labour theory of value defines value as the socially necessary quantity of labour determined by the average productivity of labour of each given sector of production. But these values are not mathematically fixed data. They are simply the expression of a process going on in real life, under capitalist commodity production. So this average is only ascertained in the course of a certain time-span.

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  • The Basic Theories of Karl Marx

    Marx’s Labour Theory of Value

    30 December 2003, by Ernest Mandel

    As an economist, Marx is generally situated in the continuity of the great classical school of Adam Smith and Ricardo. He obviously owes a lot to Ricardo, and conducts a running dialogue with that master in most of his mature economic writings.

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  • The Basic Theories of Karl Marx

    Marx’s Economic Theory - General approach and influence

    30 December 2003, by Ernest Mandel

    A general appraisal of Marx’s method of economic analysis is called for prior to an outline of his main economic theories (theses and hypotheses). Marx is distinct from most important economists of the 19th and 20th centuries in that he does not consider himself at all an ’economist’ pure and simple.

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  • Basic Theories of Karl Marx

    Historical Materialism

    30 December 2003, by Ernest Mandel

    Outside his specific economic theories, Marx’s main contribution to the social sciences has been his theory of historical materialism. Its starting point is anthropological. Human beings cannot survive without social organisation.

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