The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1927-09-17

Marxism as social psychological contrast.
Having explained this contrast, the author goes
to analyze it from the standpoint of logic, with
a treatise on obiectivsm and subjectivism in po-
Iitcal economy Since Marxism deals with the causal
chain linking up social phenomena, and sees a social
process Independent Of individual motives it is OBJ
ective On the other hand since the labor theory of
value of the classical school, particularly Adam
Smith, is based individual estimate of COM
modtes, corresponding to the quantity and quality
of labor used, it is subjective theory.
The method of Marx is not to start with individual
motives. AS buyers and sellers, individuals go to
the market, the product dominating the creator. No
doubt, there is connection between individual and
social Wills but Marks method is to examine and
ascertain the law Of the relations of this social
phenomenon The method of the Austrian school is
to abstract the historical and organic methods and
start from the "atom" Thus we get as illustrations
"a man in desert" ian individual in a primevaI
forest" and other variations of the Robinson Cru
soe' legends forgetful that the economic motives
and categores associated with the Illustrations come
from definite social relationship. 1t is as if we
to speak of dukes earls and lords in primitive
ancient society," to endow these terms being eternal
Modem political economy only have as its
object commodity society, lie, capitalist society
In this society the individual will and purpose are
RELOCATED to the background, as opposed to obiec
tive social phenomena. Only in socialist society
will the blind social element yield to a conscious cal
culation by the community Relations between men
beng simple and clear the fetishsm attached to the
present. leldllOLS among men Will disappear.
The unhistorical and subjective method of the
BONN Bawerks is particularly revealed in their de-
fntion of capital, where the stone of the ape and
the club OF the savage classified as the germ of
capital. In contrast with Marxism which defines
capital IN accordance with its historic use viz a
means of producing wealth with a view to profit
the Austrian school limits capital to being merely
means of producing wealth. ie. as universal
for all time
Yet another fundamental trait of the Austrian
school is the emphasis laid upon consumption, and
the consumer Whereas the classical school an
preached the economic problems from the standno;nt
OF the producer indivdualism finds its parallel in
this neutrality-suspicious. method of the "Robin
son Crusoes" of the Austrian school, Its ideolopv
is the elimination of the bourgeoise from tbe mo
cess CT production
Passing to the newer Anglo-Amercan school rem
resented by Bates-Clark, Bukharin shows US it is
not difficult to find the theological basis of this
school, This basis is to be found in the process of
the transformation of industrial capitalism to mill
tant imperialism, and where the less ndivdualistic
become trained in organization of entrepreneurs
ne method OF investigation is socal-organic The
American school, the author warns us, though the
product OF progressive bourgeosie is nevertheless
a declining one
1t is interesting to note that this theory of NAV
glnal utility was put forward mathematicallv nv a
German, Herman Gossen, as far back as 1854 In
deed many of the theses ascribed to the Austrian
anu 'evonIan schooI are to be found in Goosen's
edges But the international RENTER found his learn
cd spokesman in Bohm Bawerk In Bohm Bawerk's
theories he found pseudo scentific weapon not so
much IN the struggle against the elemental forces
OF capitalist evolution as a weapon against the ever
menacing workers movement
we think we have said enough however, to arouse
Ce interest and curiosity of the reader to procure
thls most important book From the MARGINAL n+il;t
tneory OF value to the theories of profit enmeshed
IN STATISTICAL formula Bukharin pursues the faIlaces
Oh these apologlsts of capitalism with irresistible
ioglc revealing their theoretical work to be "barron
desert" ie"
In ms introduction, the author says, TT NAV an
pear unusual that should publish this book at a
moment when civil war is rampant in Europe Mary
lsts however, have never accepted anv oblioa+;on
10 discontinue their theoretical work even at ne
flods OF the most violent class struggle, SO long
as any physical possibility for the performance If
such work at hand A criticism Of +ha 49,;
tanst system is OF the utmost Importance for a
proper understanding of the events of the nrasent
period" WY Peh'
ms understanding. the +iSb