Why Marx Was Wrong

Book excerpt: The subject of this book is the "negative assault on democratic capitalism" embodied in Capital A Critique of Political Economy, Marx's great work devoted to delineating the crimes and inequities of capitalist societies and market economies. The book is a systematic, step-by-step analysis of Marx's logic. It is a deconstruction of the arguments and deductions by which he reaches his main conclusion: that capitalism is corrupt in its essential nature, and that capitalists gain wealth not by any legitimate means, but by appropriating unpaid labor or "surplus value" from the working masses. Despite the disappearance of the Soviet bloc and the waning of Communist zealotry, that is still a widely-believed doctrine. Marx's accusation against capitalism, and the course of argumentation by which he arrives at it, together form the subject of the present volume.