The Owl of Minerva 46 (1/2):67-77 (2014)

David Schweickart
Loyola University, Chicago
This paper argues that Marx’s critique of capitalism is not, as commonly believed, a critique of the “free market.” I argue that the “market” under capitalism should be understood as a three-fold market—for goods and services, for labor and for capital. I argue that Marx’s critique is essentially a critique of the latter two markets, and not the first. Hence theoretical space opens up for “market socialism.” I proceed to elaborate briefly what specific institutions might comprise an economically viable socialism that would not be vulnerable to Marx’s critique.
Keywords Major Philosophers
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ISBN(s) 0030-7580
DOI 10.5840/owl20156813
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