"Our results may be summarised as follows: (1) The superiority of Marxian economics in analysing Capitalism is not due to the economic concepts used by Marx (the labour theory of value), but to the exact specification of the institutional datum distinguishing Capitalism from the concept of an exchange economy in general. (2) The specification of this institutional datum allows of the establishment of a theory of economic evolution from which a "necessary" trend of certain data in the capitalist system can be deduced. (3) Jointly with the theory of historical materialism this theory of economic evolution accounts for the actual changes occurring in the capitalist system and forms a basis for anticipating the future."
Oskar R. Lange

January 1, 1970