By Spencer J. Pack

During this name, Spencer Pack compares and contrasts Aristotle's, Smith's and Marx's theoretical structures on six primary concerns: trade worth, funds, capital, personality, executive, and alter. This publication additionally offers insights on concerns in regards to the carrying on with improvement of worldwide funds, saving, managerial capitalism, corrupt governments, and numerous secular and non secular routine for social swap.

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Extra info for Aristotle, Adam Smith and Karl Marx: On Some Fundamental Issues in the 21st Century Political Ecomomy

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This current study largely sidesteps these debates because clearly people such as Adam Smith and Karl Marx knew their Aristotle and were in part responding to him. I am dealing with a clearly defined dialectical (or dialogical) tradition. 20 Aristotle, Adam Smith and Karl Marx as humans, people did need to consume things and to rely on each other’s ‘services’. They did this either in some kind of a market using money; or, more often, outside of the market through various social networks and organizations.

Nussbaum persuasively argues that for Aristotle the ontological incommensurability of goods and moral values contributes to the preciousness of life, as well as to the fragility of the good life, since it is so easy to lose uniquely irreplaceable things, relationships, people and personal attributes! 23 According to Schumpeter ‘it is much more reasonable to assume that Aristotle simply thought of the exchange values of the market, as expressed in terms of money, rather than of some mysterious value substance measured by those exchange values’ (1954: 61, emphasis in original).

22 Aristotle, Adam Smith and Karl Marx towards their food and away from their enemies; that is, they generally have locomotion. : 414b). Note then, that pleasure, pain and desire are at a rather low level of capacity, power and existence. These are attributes which the human animal shares with most all other animals. : 413b), which for Aristotle are the specifically human capacities, or capacities of the remarkable human soul. Animals, then, have at least one sense (that of touch), and appetites.

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