What increases production and
Human production, skill, and dexterity is
increased when there are more people
involved in productive forces via a division
In small manufacturing there are not many
people, but in larger ones, th
Justice Is Fairness
According to Rawls, justice is fairness.
Rawls talks about distributive justice (as
opposed to retributive justice).
The main question for Rawls is: How in a
just society can goods and services be
Jeremy Bentham (1748-1832) and John
Stuart Mill (1806-1873) are the proponents
of this theory.
The central thesis of this theory is that it
judges the morality of an action according
to the outcomes or consequences.
The outcomes are right w
The homo economicus is motivated by
self-interest alone, and this is the first
principle of economics. (23).
Is this realistic? Edgeworth was not
sure about this first principle for he says
that the 19th century man was a mixtu
Malthus: An Essay On
Food production increases by arithmetical
proportion, while human population by
geometrical proportion; so there is going to
be scarcity and unhappiness and poverty.
Scarcity of food could be avoided if we
Wages Of Labor: EPM 1844
Wages are not natural but are determined
via bitter struggle between Capitalists and
Capitalists win because they an live longer
without the worker, than the other way
Combination of Capitalists is usual and
The homo economicus is motivated by self-interest alone, and this is the first
principle of economics.
Is this realistic? Edgeworth was not sure about this first principle for he says
that the 19th century man was a mixture of egoist and u
1. Base and Super-structure of society: Marx conceived society as a two-tiered model, the
base is the more primary one, which upholds the super-structure.
2. Mode of production: The type of economic production on which a society depends,
Beyond Markets: Wage
Setting and the methodology
of feminist political economy
Power, Mutari, and
Neoclassical economists have asserted
that wages are natural set by the laws of
supply and demand in the market. Marx
showed that wages are political
Master Slave Dialectic
Every self wants to be recognized by the
other self as a free being and yet at the
same time remains an independent
individual and alien object to the other.
Each self is a struggle to be recognized by
the other and thus invol
Traditional economics presupposes
private property, it does nor explain it.
Further, traditional economics does not
explain the laws of private property, and
the distinction between labor and capital
and capital and land.
Analyzing the oikos
All associations aim at some good, thus
the polis has a good in view.
Each association consists of different
types of people.
Human beings are social animals and they
cannot live without an association, the
Beyond Markets: Wage Setting and the methodology of feminist political economy
Power, Mutari, and Figart
Neoclassical economists have asserted that wages are natural set by the laws of supply
and demand in the market. Marx showed that wages are political
Marxs Alienated Labor
According to Marx, traditional economics
presupposed private property but did not
It is based on the natural division of labor,
capital, land, and also wages, profit and
rent and on the division of labor.
The other con