In observation of what would have been Karl Marx’s 200th birthday (if that was possible) Mr Motohiro Okada examines the some of the views of a certain economist. Karl Marx, one of the most noted and respected classical economist purported two main theories on labor and two centuries after his birth, his contributions to the topic and its continued use in economics is examined. Marx developed his views on economics from prior classical economist and so many of his doctrines, especially on labour, contradict the neoclassical economists that came at a time after him. Marx expressed his views on the measurement and different dimensions of labour and wages and the many factors that affect them.
The main purpose of the presentation was to demonstrate Marx’s economic contributions specific; specifically his opinions on labour exchange and its validity in current economic perspectives which could prompt an intense opposition to the neoclassical views that were purported after his death. Okada focused on the working narratives between workers and the employers which Marx defined and as labour exchange and worker subjectivity.
Using a thorough comparison of Marx and neoclassical economist, Okada demonstrated how a theory that is more than a century old is still being used as valid economic reasoning despite the world being presented with many contradictory …show more content…
These are all publications that contained the expressed economic theories of Karl Marx. From these books Okada identified and then summarized the main points on the theories on labor. He then identified and summarized corresponding theories of labor in the published works of neoclassical economists such as William S. Jevons, Bohm-Bawerk, V. Pareto and Léon Walras, in order to the comparison and to differentiate and validate Marx’s