Founders of Political Economy: Adam Smith, David Ricardo, Karl Marx

Extract

[...] A central bank: tool for regulating banks and controlling the money supply. Conclusion - The advent of a new type of capitalism: industrial capitalism. Several possible forms. Liberalism in the United Kingdom. Mixed economy in Germany. Reign of trusts in the United States and imperialism in all cases. - The American example shows that it is possible to take political measures against very large companies. But that these Session the founders of political economy. Karl Marx and the reaction of the neo-classics. [...]

[...] Conclusion: liberalism and classical economics Adam Smith: the 'invisible hand' of the market within the framework of a 'free market' liberalism: the state should not intervene in the economy. David Ricardo: the model of comparative advantage free trade at the international level. Jean-Baptiste Say taken up by Ricardo: 'every offer creates its own demand' supply-side policy. Classical economics: mathematical model justifying social relationships. Session Economic History of the 19th century.19th century: industrialization How does industrialization profoundly transform the Western world and what economic models follow from it? [...]

[...] Surplus value = unpaid labor therefore exploitation. Consequences : - Essential link between capitalism and salariat: 'capital is a social relation' - Material and social reproduction of the capitalist world of production - Interest of capitalists to maintain low wages due to unemployment The accumulation and contradictions of capitalism Cycle of capital rotation (money - commodity - money) surplus value transformed into additional capital = 'expanded reproduction of capital'. Capitalism necessarily unstable: need for growth and for this need for machinery deskilling of workers, low wages and unemployment. [...]

[...] According to the epochs, different modes of production involving different relations of production. Relation of production: social relations within the production process. Mode of production: productive forces + dominant relations of production. In the capitalist mode of production, the relation of production is wage labor. Systemic contradictions + new dominant class change of mode of production. Historical dynamic that passes from one mode to another and opposes the dominant and dominated classes in a relation of production: class struggle. Value-labor and surplus-value Ricardo: what creates value is labor. But the profit? [...]

[...] Programme Session 1 : The founders of political economy: The precursors, Adam Smith and David Ricardo. Session 2 : Economic History of the 19thème century, industrialization" Session 3 : The founders of political economy. Karl Marx and the reaction of the neo-classics. Indicative Bibliography - Boncoeur Jean and Thouément Hervé, « History of Economic Ideas ». - Delaplace Ghislain, « History of Economic Thought » - Goodwin Michael and Burr Dan « Economix» Session 1 : The founders of political economy: The precursors, Adam Smith and David Ricardo. Political Economy - L. [...]