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April 10, 2026
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"It can be maintained that Smith was a creator of general equilibrium theory, although the coherence and consistency of his work can be questioned. A fortiori, later systematic expositors of the classical system, such as Ricardo, J. S. Mill, and Marx, in whose work some of Smith’s logical gaps were filled, can all be regarded as early expositors of general equilibrium theory. Marx, in his scheme of simple reproduction, read in combination with his development of relative price theory in volumes 1 and 3 of Das Kapital, has indeed come in some ways closer in form to modern theory than any other classical economist, though of course everything is confused by his attempt to maintain simultaneously a pure labor theory of value and an equalization of rates of return on capital."
"In my judgment Karl Marx [is right]… the real issues ultimately will be the economic issues."
"As far as learning was concerned, Marx was, and still is, incomparably more advanced than I. I knew nothing at that time of political economy, I had not yet rid myself of my metaphysical observations… He called me a sentimental idealist and he was right; I called him a vain man, perfidious and crafty, and I also was right."
"I looked up to these Russians who could discuss by the hour the theories of Marx and Bakunin, who had participated in demonstrations and other revolutionary activity."
"Much if not all we know about the complex mechanism responsible for the development (and stagnation) of productive forces, and for the rise and decay of social organizations, is the result of the analytical work undertaken by Marx and by those whom he inspired."
"The strength of Marx is precisely that he shared the feelings of the downtrodden, that the prejudice of equality was in his very fiber, joined to the ambition and jealousy of power, which made him ready to destroy the present moral order in the name of a higher which he saw."
"The power of Marx's diagnosis of modern times is not equalled by his prognosis. Marx shows a fundamental weakness in his attraction to populism, the image of two fundamental working classes, especially early. He installs the proletariat as the motor of history, an imputation which the proletariat never quite understands correctly. His sense of the permanent revolution of capital spills over into the telos of guaranteed socialism, which it never is. He was a powerful critic of capitalism as modernity, who understood the centrality of capital as a relation and as a self-naturalizing illusion. He was a dreamer. His intellectual origins were before modernity, but the scope of his vision was beyond it. His legacy is best imagined as what Ernst Bloch called the warm stream of marxism. Was he an original? Yes, and no. The power of Marx's work lies in the brilliant synthesis that he generated from the work of others, working within on the critical horizons of both the streams we conventionally separate as Enlightenment and Romanticism. Perhaps, in our own times, the fate of his thought is to return to the cultures from which it was initially created, as avant-garde returns, finally, to the mainstream."
"Karl Marx took up the rallying call [of 19th Century progress], and applied his incisive language and intellect to the task of launching this major new and, as he thought, definitive step in history towards salvation—towards what Kant had described as the "Kingdom of God". Once the truth of the hereafter had been rejected, it would then be a question of establishing the truth of the here and now. The critique of Heaven is transformed into the critique of earth, the critique of theology into the critique of politics. Progress towards the better, towards the definitively good world, no longer comes simply from science but from politics—from a scientifically conceived politics that recognizes the structure of history and society and thus points out the road towards revolution, towards all-encompassing change."
"Marx not only omitted to work out how this new world would be organized—which should, of course, have been unnecessary. His silence on this matter follows logically from his chosen approach. His error lay deeper. He forgot that man always remains man. He forgot man and he forgot man's freedom. He forgot that freedom always remains also freedom for evil. He thought that once the economy had been put right, everything would automatically be put right. His real error is materialism: man, in fact, is not merely the product of economic conditions, and it is not possible to redeem him purely from the outside by creating a favourable economic environment."
"The class struggle, which is always present to a historian influenced by Marx, is a fight for the crude and material things without which no refined and spiritual things could exist. Nevertheless, it is not in the form of the spoils which fall to the victor that the latter make their presence felt in the class struggle. They manifest themselves in this struggle as courage, humor, cunning, and fortitude. They have retroactive force and will constantly call in question every victory, past and present, of the rulers. As flowers turn toward the sun, by dint of a secret heliotropism the past strives to turn toward that sun which is rising in the sky of history. A must be aware of this most inconspicuous of all transformations."
"Well I came across Marx rather late in life actually, and when I read him, two things: first of all I realised that he'd come to the conclusion about capitalism which I'd come to much later, and I was a bit angry he'd thought of it first; and secondly, I see Marx who was an old Jew, as the last of the Old Testament Prophets, this old bearded man working in the British Library, studying capitalism, that's what 'Das Kapital' was about, it was an explanation of British capitalism. And I thought to myself, 'Well anyone could write a book like that, but what infuses, what comes out of his writing, is the passionate hostility to the injustice of capitalism. He was a Prophet, and so I put him in that category as an Old Testament Prophet."
"The intellectual contribution made by Marx to the development of socialism was and remains absolutely unique. But Marx was much more than a philosopher. His influence in moving people all over the world to social action ranks him with the founders of the world's greatest faiths. And, like the founders of other faiths, what Marx and others inspired has given millions of people hope, as well as the courage to face persecution and imprisonment."
"I cannot help myself; I see here no explanation and reconciliation of a contradiction, but the bare contradiction itself. Marx's third volume contradicts the first. The theory of the average rate of profit and of the prices of production cannot be reconciled with the theory of value. This is the impression which must, I believe, be received by every logical thinker. And it seems to have been very generally accepted."
"The development of fixed capital indicates in still another respect the degree of development of wealth generally, or of capital… The creation of a large quantity of disposable time apart from necessary labour time for society generally and each of its members (i.e. room for the development of the individuals' full productive forces, hence those of society also), this creation of not-labour time appears in the stage of capital, as of all earlier ones, as not-labour time, free time, for a few. What capital adds is that it increases the surplus labour time of the mass by all the means of art and science, because its wealth consists directly in the appropriation of surplus labour time; since value directly its purpose, not use value. It is thus, despite itself, instrumental in creating the means of social disposable time, in order to reduce labour time for the whole society to a diminishing minimum, and thus to free everyone's time for their own development. But its tendency always, on the one side, to create disposable time, on the other, to convert it into surplus labour… The mass of workers must themselves appropriate their own surplus labour. Once they have done so – and disposable time thereby ceases to have an antithetical existence – then, on one side, necessary labour time will be measured by the needs of the social individual, and, on the other, the development of the power of social production will grow so rapidly that, even though production is now calculated for the wealth of all, disposable time will grow for all. For real wealth is the developed productive power of all individuals. The measure of wealth is then not any longer, in any way, labour time, but rather disposable time. Labour time as the measure of value posits wealth itself as founded on poverty, and disposable time as existing in and because of the antithesis to surplus labour time; or, the positing of an individual's entire time as labour time, and his degradation therefore to mere worker, subsumption under labour. The most developed machinery thus forces the worker to work longer than the savage does, or than he himself did with the simplest, crudest tools."
"Die Natur baut keine Maschinen, keine Lokomotiven, Eisenbahnen, electric telegraphs, selfacting mules etc. Sie sind Produkte der menschlichen Industrie; natürliches Material, verwandelt in Organe des menschlichen Willens über die Natur oder seiner Betätigung in der Natur. Sie sind von der menschlichen Hand geschaffene Organe des menschlichen Hirns; vergegenständliche Wissenskraft. Die Entwicklung des capital fixe zeigt an, bis zu welchem Grade das allgemeine gesellschaftliche Wissen, knowledge, zur unmittelbaren Produktivkraft geworden ist und daher die Bedingungen des gesellschaftlichen Lebensprozesses selbst unter die Kontrolle des general intellect gekommen, und ihm gemäß umgeschaffen sind."
"Beauty is the main positive form of the aesthetic assimilation of reality, in which aesthetic ideal finds it direct expression…"
"Money is itself a product of circulation."
"Something that is merely negative creates nothing."
"The circulation of capital realizes value, while living labour creates value."
"Although usury is itself a form of credit in its bourgeoisified form, the form adapted to capital, in its pre-bourgeois form it is rather the expression of the lack of credit."
"Luxury is the opposite of the naturally necessary."
"An increase in the productivity of labour means nothing more than that the same capital creates the same value with less labour, or that less labour creates the same product with more capital."
"The devil take this wrong arithmetic. But never mind."
"Capitals accumulate faster than the population; thus wages; thus population; thus grain prices; thus the difficulty of production and hence the exchange values."
"(That is it!)"
"Surplus value is exactly equal to surplus labour; the increase of the one [is] exactly measured by the diminution of necessary labour."
"In fact of course, this 'productive' worker cares as much about the crappy shit he has to make as does the capitalist himself who employs him, and who also couldn't give a damn for the junk."
"Money is therefore not only the object but also the fountainhead of greed."
"Exchange value forms the substance of money, and exchange value is wealth."
"Since labour is motion, time is its natural measure."
"The circulation of commodities is the original precondition of the circulation of money."
"Money appears as measure (in Homer, e.g. oxen) earlier than as medium of exchange,because in barter each commodity is still its own medium of exchange. But it cannot be its own or its own standard of comparison."
"Money does not arise by convention, any more than the state does. It arises out of exchange, and arises naturally out of exchange; it is a product of the same."
"Die Ideen exisÂtieÂren nicht geÂtrennt von der SpraÂche."
"Each pursues his private interest and only his private interest; and thereby serves the private interests of all, the general interest, without willing it or knowing it. The real point is not that each individual's pursuit of his private interest promotes the totality of private interests, the general interest. One could just as well deduce from this abstract phrase that each individual reciprocally blocks the assertion of the others' interests, so that, instead of a general affirmation, this war of all against all produces a general negation."
"The unity is brought about by force."
"Supply and demand constantly determine the prices of commodities; never balance, or only coincidentally; but the cost of production, for its part, determines the oscillations of supply and demand."
"What's sauce for the gander is sauce for the goose."
"A man cannot become a child again, or he becomes childish."
"From another side: is Achilles possible with powder and lead? Or the Iliad with the printing press, not to mention the printing machine? Do not the song and saga of the muse necessarily come to an end with the printer's bar, hence do not the necessary conditions of epic poetry vanish?"
"What chance has Vulcan against Roberts & Co., Jupiter against the lightning-rod and Hermes against the Credit Mobilier? All mythology overcomes and dominates and shapes the forces of nature in the imagination and by the imagination; it therefore vanishes with the advent of real mastery over them."
"But there is a devil of a difference between barbarians who are fit by nature to be used for anything, and civilized people who apply them selves to everything."
"The individual produces an object and, by consuming it, returns to himself, but returns as a productive and self reproducing individual. Consumption thus appears as a moment of production."
"The object of art — like every other product — creates a public which is sensitive to art and enjoys beauty."
"No production without a need. But consumption reproduces the need."
"Consumption is also immediately production, just as in nature the consumption of the elements and chemical substances is the production of the plant."
"The industrial peak of a people when its main concern is not yet gain, but rather to gain."
"The object before us, to begin with, material production."
"Men make their own history, but they do not make it as they please; they do not make it under self-selected circumstances, but under circumstances existing already, given and transmitted from the past. The tradition of all dead generations weighs like a nightmare on the brains of the living. And just as they seem to be occupied with revolutionizing themselves and things, creating something that did not exist before, precisely in such epochs of revolutionary crisis they anxiously conjure up the spirits of the past to their service, borrowing from them names, battle slogans, and costumes in order to present this new scene in world history in time-honored disguise and borrowed language. Thus Luther put on the mask of the Apostle Paul, the Revolution of 1789-1814 draped itself alternately in the guise of the Roman Republic and the Roman Empire, and the Revolution of 1848 knew nothing better to do than to parody, now 1789, now the revolutionary tradition of 1793-95. In like manner, the beginner who has learned a new language always translates it back into his mother tongue, but he assimilates the spirit of the new language and expresses himself freely in it only when he moves in it without recalling the old and when he forgets his native tongue. When we think about this conjuring up of the dead of world history, a salient difference reveals itself. Camille Desmoulins, Danton, Robespierre, St. Just, Napoleon, the heroes as well as the parties and the masses of the old French Revolution, performed the task of their time – that of unchaining and establishing modern bourgeois society – in Roman costumes and with Roman phrases."
"The Tories in England long imagined that they were enthusiastic about monarchy, the church, and the beauties of the old English Constitution, until the day of danger wrung from them the confession that they are enthusiastic only about ground rent."