📓 marxs-criticism-of-adam-smith.md by @ryan ☆

Marx’s Criticism of Adam Smith

From Capital Vol. 1

From Capital Vol. 2

Marx’s criticisms of Smith in Chapter 10 of Volume 2 amount to Smith not understanding different forms of capital. Smith doesn’t distinguish between fixed or fluid capital, and makes errors in determining what wages are to workers.

Marx criticizes Adam Smith for believing that wages are a form of capital
Marx criticizes Smith practically every other sentence for confusing constant and variable capital