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RICCARDO BELLOFIORE

Marxian economic thought        

The core of the Marxian ‘critique of political economy’, and its differentia specifica from other currents in economics, may however be encapsulated in a few sentences. The chief and almost exclusive object of analysis is capital understood as a social relation of production, marked by two features: exploitation within a monetary commodity-economy, and an inner and systematic tendency to crises. The theoretical instrument employed by Marx to show the link between money and exploitation as well as the endogeneity of crises is the theory that value has its exclusive source in abstract labor as activity – namely, the living labor of the wage worker.