In a letter written on 24 January, 1865 to Schewitzer, Marx, commenting on the work of Proudhon, observed: “Take, for instance, Malthus's book on population. In its first edition it was nothing but a sensational pamphlet … and yet what a stimulus was produced by this libel on the human race.”

The recent collapse of so‐called socialist economies has raised fundamental questions about whether a socialist economy could be built on imported capitalism. Russia′s socialist development was based, from the beginning, on Western capitalist technology from the time of its introduction in...

To be competitive, capitalism must lower the cost of production by lower wage costs, lower inflation, lower interest rates, and lower taxes. The welfare state has become the greatest hindrance because it supports costly wage rates even in a recession with high unemployment. The consequences of a...

Attempts to trace the process of internationalization of production since the late nineteenth century, which has laid down the path and pattern of modern economic growth in the Third World. Industrial capitalism emerged historically in the UK with the Industrial Revolution, and was subsequently...