‘Feuerbach resolves the religious essence into the human essence. But the human essence is no abstraction inherent in each single individual. In its reality it is the ensemble of social relations.’It is a common belief, shared both by Marxists and by critics of Marxism, that differences in the interpretation of this statement have important implications for the assessment of Marx's system of ideas. How we read it will affect our view of the unity of Marx's thought and of the continuity (...) of its development over his lifetime, and it will bear crucially on our appraisal of the epistemological status—metaphysical, scientific or mythopoeic—of the various elements of the Marxian system. Among Marxists, members of the Frankfurt School have emphasized the paternity of Marxian metaphysical humanism in Hegel's conception of man as a self-creating being, while Althusser and his disciples have seen in the extrusion from Marx's later work of any such ‘anthropomorphic’ notion a guarantee of the scientific character of his historical materialism. Among Marx's liberal critics, it is widely agreed that he espoused an essentialist view of man and, often enough, it is thought that this alone is sufficient to disqualify his system from scientific status. No consensus exists, however, as to the cognitive standing of the several components of Marx's thought. That agreement should be lacking as to the place in it of a conception of human nature is hardly surprising. Different construals of the role of a view of man will reflect divergent commitments, not only in the philosophy and methodology of social and historical inquiry, but in moral and political thought as well. (shrink)

Profit is a concept that both causes and manifests deep conflict and division. It is not merely that people disagree over whether it is good or bad. The very meaning of the concept and its role in competing theories necessitates the deepest possible disagreement; people cannot agree on what profit is. Still, simply learning the starkly different sentiments expressed about profit gives us some feel for the depth of the conflict. Friends of capitalism have praised profit as central to the (...) achievement of prosperity and to civilized modern life. Calvin Coolidge, that silent sentinel of American business, said, “Profit and civilization go hand in hand.” F. A. Hayek tells us that in the evolution of the structure of human activities, profitability works as a signal that guides selection towards what makes man more fruitful; only what is more profitable will, as a rule, nourish more people, for it sacrifices less than it adds. (shrink)

In the 1920s, Ludwig von Mises argued correctly that the problem of making economic calculations without market‐generated prices would be an insuperable difficulty for socialist systems of production. Bryan Caplan is right to argue that there is no theoretical way to infer the magnitude of this difficulty, but he is wrong to insist that the history of poor economic performance displayed by real‐world socialism should be attributed not to the “socialist calculation problem,” but to inadequate work incentives. A state that (...) had solved the calculation problem would have well within its means the solution to the incentives problem, too. (shrink)

Following the October Revolution of 1917 the Bolsheviks embarked upon a series of initiatives in order to bring about a socialist economic order. Traditional accounts of these events?"War Communism?; and the New Economic Policy?are deficient in two respects. First, they do not consider the policy implications of early twentieth?century Marxism. Second, they do not appreciate the economic coordination problems such policies would, and did, encounter. As a result, the standard account of early Soviet socialism is distorted. This paper attempts to (...) rectify these deficiencies by discussing the Bolshevisks? own assessments of their purposes and exploring the consequences of their policies in the period 1918?1921. (shrink)