A New View of Capital: Genetic Imperfection and Self-Reparation

Abstract

Perhaps the most important contribution of CAPITAL is that that Marx employs systematically in CAPITAL the method of dialectic logic. In the viewpoint of modern sciences it is similarly a genetic method in economics. But due to historical limitations, the genetic structure of CAPITAL is not perfect, which leads to some unrealistic conclusions eventually. Nevertheless, just like the DNA structures in biology, the genetic structure of CAPITAL has the intrinsic force to replicate and repair itself towards a more vigorous and balanced structure that may harmonize with the principles of modern economics. The author makes an attempt in this paper to renovate the cell structure of CAPITAL by imitating Marx's method strictly. Contrary to the subjective prejudgment, the results are quite prospective.

Keywords: Marxian Economics, Use Value, Genetic Imperfection, Dialectic Logic

JEL Classification: A1, B2, B3, B4