The Nature and Logic Of Capitalism

Heilbroner's is an acceptable form of rhetoric, entirely one that has inherent problems, for he is asking the pick outer to establish quite flexible in appreciation of the words he uses, and acknowledge their tractableness. (Semanticists call this the multiordinality of language, and al shipway caution about the dangers of victimisation words that work against their accepted symbolic acceptance by society). Heilbroner, not being a semanticist, expects everyone to be as chevalier with definitional constructs as he is. This makes for an exciting read, but a laborious one as well.

To show us that he is familiar with traditional meanings and interpretations of " detonator" he spends several pages defining capital by what it is not. It is not, as Marx saw it, merely an assemblage of positionories, machines, financial securities, or any other set of physical entities. Capital, as Heilbroner views it, is, instead, a social relation, one which has two defining characteristics: the ways in which it is held, and the way in which it is used.

To defend this argument, he points to the riches-amassing geezerhood when people who had successfully gathered a surplus of goods, exhibited this fact by showing great displays of wealth. This accumulation of physical signs of wealth suggested that the holders of this wealth were capable

Heilbroner, acknowledging and confirming Marx, thusly posits the theory that competition among capitalists, left unchecked, would drive profits to zero. Marx halt at this point, satisfied with his theories of the challenges of surplus value. Heilbroner takes Marx further by suggesting that Marx's "factors of mathematical product" (land, labor, capital) atomic number 18 not comparable or equivalent entities and capture wealth only when workers act upon land. That is the "nature" of the beast.

Indeed, this work shows such an amazing flexibility of thought that one has to struggle to respect up with the lines of reasoning.

The noted economist and scholar, John Kenneth Galbraith, is quoted on the adventure cover of the book as saying "It must be read with the greatest attention and then maybe read again. Only then will it yield its full value, which, I am confident in saying, is very great..." (Back cover).

This conclusion suggests that the acquisition of becoming a capitalist is an act of "Logic" since it implies a "pattern of configurational change." If we follow this logic, then there are many ways in which we can equate capitalist economy with education. Both concepts share the same foundation. Indeed, we can borrow a phrase quoted above, that capitalistic regimes "harbor multiple ideologies rather than monumental world views" (p. 182) and use that to describe the schema of most college education. The student, by being is exposed to multiple ideologies and beliefs, is challenged with developing a flexibility of thought.

of creating ways for the society in which they lived to generate more capital. And, as he explains, these same people who had it within their ability to alter a society to create wealth, also had the power and the in effect(p) to withhold their property from the use of society if they wished (pp. 38-39).

Heibroner, R. L. (1985),
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