Marxists

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April 10, 2026

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April 10, 2026

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"Having treated the theoretical determination of economic equilibrium in a socialist society, let us see how equilibrium can be determined by a method of trial and error similar to that in a competitive market. This method of trial and error is based on the parametric function of prices. Let the Central Planning Board start with a given set of prices chosen at random. All decision of the managers of production and of the productive resources in public ownership and also all decisions of individuals as consumers and as suppliers of labour are made on the basis of these prices. As a result of these decisions the quantity demanded and supplied of each commodity is determined. If the quantity demanded of a commodity is not equal to the quantity supplied the price of that commodity has to be changed. It has to be raised if demand exceeds supply and lowered if the reverse is the case. Thus the Central Planning Board fixes a new set of prices which serves as a basis for new decisions, and which results in a new set of quantities demanded and supplied. Through this process of trial and error equilibrium prices are finally determined. Actually the process of trial and error would, of course, proceed on the basis of the prices historically given. Relatively small adjustments of those prices would constantly be made, and there would be no necessity of building up an entirely new price system."

- Oskar R. Lange

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"I have pointed out that the real source of the superiority of Marxian economics is in the field of explaining and anticipating a process of economic evolution. It is not the specific economic concepts used by Marx, but the definite specification of the institutional framework in which the economic process goes on in capitalist society that makes it possible to establish a theory of economic evolution different from mere historical description. Most orthodox Marxists, however, believe that their superiority in understanding the evolution of Capitalism is due to the economic concepts with which Marx worked, i.e. to his using the labour theory of value. They think that the abandonment of the classical labour theory of value in favour of the theory of marginal utility is responsible for the failure of "bourgeois" economics to explain the fundamental phenomena of capitalist evolution. That they are wrong can be easily shown by considering the economic meaning of the labour theory of value. It is nothing but a static theory of general economic equilibrium. In an individualistic exchange economy, based on division of labour, in which there is no central authority to direct which commodities, and in what quantities, are to be produced, the problem is solved automatically by the fact that competition enforces such a distribution of productive resources between the various industries that prices are proportional to the amount of labour necessary for producing the respective commodities (these being the "natural prices" of classical economics)."

- Oskar R. Lange

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"Althusser was not a charlatan. He himself really believed that he had discovered something significant—or was about to discover something significant—when his illness struck. It is not because he was mad that he was a mediocre philosopher; indeed, the recognition of his own intellectual mediocrity may have contributed to his depressions, and thence to his loss of sanity. If there is something humiliating about the Althusserian episode in intellectual history then, the humiliation is not his alone. He was a guru, complete with texts, a cult, and true believers; and he showed occasional insight into the pathos of his followers, noting that they imitated his "smallest gestures and inflections." Althusser's work and his life, with his drugs, his analysts, his self-pity, his illusions, and his moods, take on a curiously hermetic quality. He comes to resemble some minor medieval scholastic, desperately scrabbling around in categories of his own imagining. But even the most obscure theological speculation usually had as its goal something of significance. From Althusser's musings, however, nothing followed. They were not subject to proof and they had no intelligible worldly application, except as abstruse political apologetics. What does it say about modern academic life that such a figure can have trapped teachers and students for so long in the cage of his insane fictions, and traps them still?"

- Louis Althusser

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"Into the 1960s the new Marx, the newly discovered Marx, was the Marx of the Paris Manuscripts. These are, as Marx once wrote to Engels in their later years, green, in contrast to the later grey of theory and the dull industrial culture of factory civilization which it sought to explain. Reading the young Marx was fun, more or less; reading Capital, in contrast, was hard work. Althusser sternly took on the duty of reading Capital, writing a very serious book called Reading Capital, and insisting that we should all read Capital seriously, in its multiple volumes, preferably in the original (Althusser and Balibar 1970). The early Marx was Marx before he was Marx, foreplay rather than the real action. Capital was taken to represent a new form of knowledge, building upon a significant epistemological break or rupture. We all became epistemologists. Nobody seemed to notice that this was a step away from practice, rather than towards it. But these were times of great seriosity, and high illusions, as well as very serious scholarship. Yet there was something important in this mission. Marx’s early writings give us the perspective of his laboratory. We can watch him thinking, and it can be an exhilarating experience. But his life’s work was Capital, and the architectonic of that work repays serious close reading. Rightly or wrongly, Marx had become convinced that the mode of presentation of this work was crucial; that there was a best way to explain capital, and that he had sorted it out. He was also convinced that capital was the privileged category, to be accessed via the logic of the commodity form. It did seem something of an irony that none, or few, of the Marxists had read Marx, because it was too hard. And this was part and parcel of the story of the fate of marxism. Engels, Kautsky (the pope of Marxism), then Lenin, and finally Stalin had reduced Marx’s theory to a series of axioms or platitudes about surplus value, historical and finally dialectical materialism. Marxists got by reciting these axioms in their daily denunciations of capitalism. Marxism had become its own caricature. Althusser blew the whistle on this state of affairs. After Althusser, it was inadmissible for Marxists to cut corners. They were now compelled to deal with their own theoretical heritage. A few clichés concerning the ubiquity of alienation and the need for revolution would no longer do."

- Louis Althusser

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