[OPE-L:1987] Aristotle's Economic Thought

Duncan K. Foley (foleyd@cepa.newschool.edu)
Tue, 28 Dec 1999 20:37:58 -0500

I've been reading a very interesting book, Aristotle's Economic Thought, by
Scott Meikle (Clarendon Press of Oxford University Press, 1995: ISBN

Meikle is very well-read in Marx and carefully relates Aristotle's texts to
Marx and Marx to Aristotle. Two very interesting points he makes are that
Aristotle is the source of the C-M-C' versus M-C-M' distinction, and that
Marx's discussion of the dialectic between use value and exchange value is
largely organized around Aristotle's categories and discussion.

>From Meikle's point of view, Marx thought Aristotle had pretty much solved
the value problem except for his inability to see that labor was the source
of value. This takes us back to our recent discussion of the labor/value
issues and to the ongoing discussion of the "value form" theory.


Duncan K. Foley
Department of Economics
Graduate Faculty
New School University
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