Chapter III

CONCERNING THE INTERPRETATION AND CRITICISM OF SOME
CONCEPTS OF MARXISM

I. OF THE SCIENTIFIC PROBLEM IN MARX'S 'DAS KAPITAL'

_Das Kapital_ an abstract investigation: His society is
not this or that society: Treats only of capitalist
society: Assumption of equivalence between value and
labour: Varying views about meaning of this law: Is a
postulate or standard of comparison: Question as to value
of this standard: Is not a moral ideal: Treats of economic
society in so far as is a working society: Shows special
way in which problem is solved in capitalist society:
Marx's deductions from it 48

II. MARX'S PROBLEM AND PURE ECONOMICS (GENERAL ECONOMIC
SCIENCE)

Marxian economics not general economic science and
labour-value not a general concept of value: Engels'
rejection of general economic law: abstract concepts used
by Marx are concepts of pure economics: relation of
economic psychology to pure economics: pure economics does
not destroy history or progress 66

III. CONCERNING THE LIMITATION OF THE MATERIALISTIC THEORY
OF HISTORY

Historical materialism a canon of historical
interpretation: Canon does not imply anticipation of
results: Question as to how Marx and Engels understood it:
Difficulty of ascertaining correctly and method of doing
so: How Marxians understand it: Their metaphysical
tendency: Instances of confusion of concepts in their
writings: Historical materialism has not a special
philosophy immanent within it 77

IV. OF SCIENTIFIC KNOWLEDGE IN FACE OF SOCIAL PROBLEMS

Socialism and free trade not scientific deductions:
Obsolete metaphysics of old theory of free trade: Basis of
modern free trade theories not strictly scientific though
only possible one: The desirable is not science nor the
practicable: Scientific law only applicable under certain
conditions: Element of daring in all action 93

V. OF ETHICAL JUDGMENT IN FACE OF SOCIAL PROBLEMS

Meaning of Marx's phrase the 'impotence of morality' and
his remark that morality condemns what has been condemned
by history: Profundity of Marx's philosophy immaterial:
Kant's position not surpassed 106

VI. CONCLUSION

Recapitulation: 1. Justification of Marxian economics as
comparative sociological economics: 2. Historical
materialism simply a canon of historical interpretation:
3. Marxian social programme not a pure science: 4. Marxism
neither intrinsically moral nor anti-moral 115