Marx was right about capitalism

posted by
October 27, 2011
by Stephan Kinsella  
Posted in Commentary

"Hoppe has explained how Marx was 'essentially correct' in his theory of history and class analysis. His main mistake was his understanding of exploitation, which was based on a flawed understanding of the labor theory of value. As Hoppe argues, drawing on Rothbardian libertarian and Austrian insights, the only meaningful exploitation is aggression against private property. Once you understand exploitation in this light, a Marxian style class analysis and understanding of history makes sense." (10/26/11)  

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