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📓 garden/ryan/20201219162423-marx_s_criticism_of_adam_smith.org by @ryan

From Capital Vol. 1

From Capital Vol. 2

Marx's criticisms of Smith in Chapter 10 of Volume 2 amount to Smith not understanding different forms of capital. Smith doesn't distinguish between fixed or fluid capital, and makes errors in determining what wages are to workers.

  • Marx criticizes Adam Smith for believing that wages are a form of capital

  • Marx criticizes Smith practically every other sentence for confusing constant and variable capital

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