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Person-in-community in Whitehead, Smith and Marx: exploring Marx’s concept of class through Smith’s concept of social order


Dibben, MR, Person-in-community in Whitehead, Smith and Marx: exploring Marx's concept of class through Smith's concept of social order, Socialism in process, Process Century Press, Heinzekhr J and Clayton P (ed), United States, pp. 49-70. ISBN 9781940447278 (2017) [Research Book Chapter]

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In their ground breaking work Organic Marxism, Philip Clayton and Justin Heinzekehr develop "an alternative to capitalism and ecological catastrophe" by arguing that Adam Smith, the father of capitalism, was "wrong," 3 and that his ideas have led to theeconomic and social crisis of selfish free-market capitalism guided by the oft-cited idea of"the invisible hand." In this chapter we argue that there may in fact be something far more interesting in Adam Smith's economic work than laissez-faire free trade. Rather than placing the blame squarely at Smith's door, a more balanced interpretation may lead us to conclude it is more accurate to suggest those who have sought to apply his thinking to develop modern economics have been less than fair in the selective way they have applied his thought. At the very least, the result is that these applications of Smith's thought have in turn led to very recent thinking being- entirely unwittingly- somewhat one-sided.

Item Details

Item Type:Research Book Chapter
Keywords:Whitehead, Smith, Marx, capitalism
Research Division:Economics
Research Group:Economic Theory
Research Field:History of Economic Thought
Objective Division:Economic Framework
Objective Group:Microeconomics
Objective Field:Human Capital Issues
Author:Dibben, MR (Associate Professor Mark Dibben)
ID Code:115365
Year Published:2017
Deposited By:Management
Deposited On:2017-03-20
Last Modified:2017-11-06

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