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Chapter Summary

This chapter argues that Marx's theory is based on a view of reality whose essential co-ordinates are time (temporalism) and non-equilibrium. It requires the use of the dialectical method of social enquiry, which is sufficient to rebut the critiques which are based on an opposite view of reality, one in which time is banned (simultaneism) and the economy is in, or tends towards, equilibrium. This latter argument rests exclusively on formal logic. The two-fold aim of what follows is not only to show Marx's internal consistency but also to argue that, in the debate between the two camps, the dialectical view of reality has been lost. The chapter shows that it is the rationality of homo economicus and thus of orthodox-economic theory, rather then Marx's own, that fails the test of formal logic, the only mode of reasoning it knows.

Keywords: dialectical method; formal logic; homo economicus; Marx's theory; orthodox-economic theory



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