Contemporary reading of Marx: Piketty’s Capital in the Twenty-first Century Cover Image

Savremeno čitanje Marxa: Pikettyev novovjeki „Kapital“
Contemporary reading of Marx: Piketty’s Capital in the Twenty-first Century

Author(s): Dženan Kulović
Subject(s): Marxist economics, Socio-Economic Research
Published by: Udruženje za filozofiju i društveno-humanistička istraživanja “Eidos”
Keywords: social inequality; wealth growth; paradoxical foundation;

Summary/Abstract: The contemporary reading of Marx affirms the latent, existential paradox of modern times in which the rich become richer, and the poor are poorer. The paper starts from the key hypothesis presented by the French economist Piketty to the most important economic formula of today. According to this author, the issues of income and well-being are too important for them to deal only with economists and mathematicians. To explain the phenomenon that tells us that inequality arises as a result of the rapid growth of wealth from the growth of the economy, it is not possible to apply traditional economic-mathematical models. The author in the contemporary reading of Marx brings a wide array of relevant facts from the economic force in which he based his views on economic instruments that were available to him in creating his own image of economic history, rather than ideological solutions to the dominant hypothesis that returning capital is greater than the rate of growth. Particularly interesting is the author’s contradiction of capitalism, which is reflected in the analysis of the distribution system of wealth and economic inequality, that is, disparities between accumulated capital and economic growth. The general finding of his research is based on the findings of earlier fears of Marx who in his own terrorism has proven a constant tendency to “capitalize” and “maximize profits” as a result of the brutal exploitation of capitalists (capillary exploitation of labor and the exploration of nature). Unlike Marx, which solution lies in revolutionary communism, the Piketty solution is found in macroeconomic instruments that need to respond to the “invisible and unacceptable hand” of the crux of a raw market mechanism.

  • Issue Year: 2018
  • Issue No: 2
  • Page Range: 97-104
  • Page Count: 8
  • Language: Bosnian