Toward a Critique of Economics

  • Paul M. Sweezy
Keywords: Marxism, Political Economy

Abstract

Orthodox economics takes the existing social system for granted, much as though it were part of the natural order of things. Within this framework it searches for harmonies of interest among individuals, groups, classes, and nations; it investigates tendencies toward equilibrium; and it assumes that change is gradual and non-disruptive. I don't think I need to illustrate or support these propositions beyond reminding you that the foundation of all orthodox economics is general and/or partial equilibrium (the two, far from being incompatible, really imply each other). And as for the point about gradualism, I need only recall that printed on the title page of Alfred Marshall's magnum opus, the Principles of Economics, is the motto natura non facit saltum-nature makes no leaps.
Published
1970-01-01
Section
Articles