The concept of economic reproduction is emphasized in the Marxian school of economic thought. In Marxist theory, the conditions for production are continuously re-created as a circular flow. The concept of the circular flow of both goods and of factor-inputs was first developed by the French economists of the 1700s, who called their theory of natural economic laws “Physiocracy.” The factors or categories of inputs are land, labor, and capital goods.
From co-editor Fred Foldvary. Do read the whole fascinating article. Many conservatives in the US (as well as libertarians) don’t give Karl Marx the time of day he deserves in order for thoughtful, polite discourse to take place. Many on the Right decry (and rightly so) the various strawmen that Leftists erect when attacking the proponents of private property, personal wealth and international trade, but are we any better when it comes to debunking Leftist arguments?
I am inclined to say so. Read the rest of Dr. Foldvary’s argument to find out why. You should also check out Karl Marx was Right (Pretty Much) by Dr. Delacroix and Dr. Gibson’s take on understanding the Left when you get the time.
You are unlikely to find these types of arguments emanating from the Left. Sure, the civil libertarians on the Left are willing to form alliances when necessary, as is the internationalist, free trading wing of the Democratic Party, but by and large Leftists are uninterested in learning from the Right.
We would do well to remember that this obstinate ignorance is perhaps the Left’s biggest weakness in the realm of ideas.