Abstract

The theoretic structure of Marxian economy was elaborated to provide an understanding of the laws of the motion of capitalism. The motion of capitalism, however, is nothing but the process of economic development under conditions of multiple centers of investment-decisions. It becomes, then, an interesting question to ask how much of the theoretic structure of Marx applies to the problems of economic development in general and how much is limited to those aspects alone which follow from the theoretically contingent condition of decentralized investment-decisions. It will not, therefore, be the primary purpose of this paper to examine the adequacy of the conceptual structure of Marxian economic thought, or even its relative advantages or disadvantages over the more widely accepted school, following the inquiries of Walras, Menger, Jevons, and others; but, rather, to assume the general framework of Marxian theory and attempt to seek an answer within its limits.