ABSTRACT

F. Engels himself reckoned the materialistic conception of history as the true core of Marxism, and Antonio Labriola went so far as to argue that Marxism ultimately boiled down to historical materialism. The core idea behind the materialistic conception of history is that the true underpinning of each social order is a specific mode of production. There is ground for concluding that the transition to socialism is slow to materialise because of the power that capitalists wield in business enterprises. In abstract terms, stripping power from capitalists should be a major aim of the bourgeoisie, since decisions made in line with the ‘one share, one vote’ principle are at odds with the democratic principles to which power class is used to paying lip service. In a democratic firm system the workers’ collective is sovereign, in terms that its decision powers in matters of production include authority to regulate distribution in manners that will appear most appropriate from time to time.