ABSTRACT

We can now begin applying the concepts and definitions developed in chapter 2, first by discussing the radical political economy theory of capitalist production, profits, and competition central to the radical understanding of the capitalist economy and its dynamics. This analysis is then extended to the radical theory of work, wages, and conflict in the capitalist workplace. These aspects of the capitalist economy are of course central to any economic theory, and the approach followed here is that of Bowles and Edwards (1993, chs. 8–11).