Karl Marx and the Close of His System

The great economist takes on Karl Marx, and his fundamental failure to understand the workings of the capital market and its relationship to value. The criticism was devastating, so much so that a leading Marxist responded, and thus herein is Rudolf Hilferding’s response. It is very weak, as you will undoubtedly notice.

The book is introduced by the socialist Paul Sweezy, and he too tries to rescue the Marxists from the corner into which Böhm-Bawerk drives them. So this book makes for great drama, and it is a pleasure to see the Austrian come out on top despite every effort by the compiler of the book to prevent it.