ABSTRACT
At this point we might as well interrupt our outline of Marx's critique of political economy and attend to the so-called transformation problem, which agitated academic Marxism from time to time and only recently flared up again with special vehemence. Academic Marxism—pro and contra—is a phenomenon of the impact of Marxism upon the bourgeois world. The rise of socialist movements, the growing difficulties of capital production, the business cycle, class struggle, war and revolutions have induced the educated bourgeoisie to pay some attention to the critics of capitalism, not only in self-defense but also out of curiosity and sometimes even out of sympathy for the aspirations of the working class.
