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Was Marx Wrong?: The Economic Theories of Karl Marx Tested in the Light of Modern Industrial Development

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Was Marx Wrong?: The Economic Theories of Karl Marx Tested in the Light of Modern Industrial Development

4.85 12,250 ratings · 7,915 reviews
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Overview: Amid a storm of invective and abuse heaped on Professor Simkhovitch's head, may be discerned three major criticisms of his book by Dr. Rubinow. The first challenges Simkhovitch's data in regard to the concentration of production; the second, his data in regard to the growth of the middle class; and the third, his optimism concerning the welfare of the masses. This review will be confined to an examination of the statistical data and methods of the two authors. Simkhovitch's thesis in regard to the first point must be carefully noted. He points out (p. 50): "That a centralization of industry has taken place is an undeniable fact," but contends (p. 51) that "there has been no such far-reaching centralization as the Marxian vision of future economic development presaged." For example, the number of manufacturing establishments in the United States increased in greater proportion than the number of wage-earners between 1890 and 1900. Rubinow, on the other hand, maintains that concentration has been so great (p. 28) that there is no future for small industry; and shows that the data as to growth of establishments were admitted by the Census Bureau to be unreliable. And then he (p. 21) presents a table of "factories, excluding hand and neighborhood industries," for the years 1900 and 1910 which shows that the number of wage-earners has increased faster than the number of establishments. This table is beside the point, for it is just the persistence of the hand and neighborhood industries that is under discussion. Their number, moreover, is very large, being $44,704 as against 207,514 factories in 1900. Further, it must be expected that the increase of concentration in factories should be greater than that in hand and neighborhood industries. Although the criticism made by Rubinow (p. 21, bottom, to p. 24) is sound-that either the number of employees engaged by large factories or the total output is of greater importance than the number of such factories-the author oversteps a just interpretation of his figures: he says (p. 24) that, because in 1904 the large factories produced 38 per cent of value of manufactures, and in 1909, 43.8 per cent, "by this time it is reasonable to assume it has reached one half." In the first place this is not a reasonable assumption; and, secondly, the figures do not prove an inevitable concentration to the bitter end, and therefore do not affect Professor Simkhovitch's thesis, which acknowledges some concentration. Again, the criticism (p. 24, bottom, to p. 28) of Simkhovitch's table on p. 27, in proof of his statement that "in commerce the small establishment is still more persistent than in industry," is well grounded. -"The American Economic Review," Vol. 5 [1915]

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Pages 62
Publisher Createspace Independent Publishing Platform
Published N/A
ISBN 29597728
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I M Rubinow
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After spending years working in the corporate world, I M Rubinow finally decided to pursue a lifelong passion for writing. They currently reside in a quiet suburb where they spend most of their time outlining new stories, reading extensively, and occasionally attempting to bake.

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Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author.
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Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
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A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
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Excellent, though slightly flawed. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend.
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A very strong entry. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend.
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Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
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Margaret Harris
Margaret Harris June 30, 2025
A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
Lisa Williams
Lisa Williams January 15, 2024
I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
Jessica Allen
Jessica Allen March 12, 2024
A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A very distinguished novel.
Donna Green
Donna Green July 20, 2024
A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Charles Miller
Charles Miller March 23, 2025
Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
Andrew Adams
Andrew Adams May 24, 2025
Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars.
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