Marxist-Leninist Political Economy - Chapter 1

This set covers the fundamental concepts, functions, history, and research methods of Marxist-Leninist Political Economy as presented in Chapter 1.

Cognitive function of Political Economy

To discover the essence of economic phenomena and processes, find objective economic laws, and demonstrate the interaction between production relations, productive forces, and the superstructure.

Ideological function of Marxist-Leninist Political Economy

To build a revolutionary worldview for the working class and laborers, foster belief in the struggle to abolish oppression, and serve as an ideological weapon in building socialism.

Core functions of Marxist-Leninist Political Economy

Cognition, practice, ideology, and methodology.

Marx's starting point for studying the Capitalist Mode of Production

The study of simple commodity production and the commodity.

1615

The year the term "political economy" was used for the first time.

The theoretical inheritance of Marxist-Leninist Political Economy

It directly inherited and developed the achievements of British Classical Bourgeois Political Economy.

Cornerstone of Marx's economic theory

The theory of surplus value.

Object of study in Marxist-Leninist Political Economy

The relations of production in their reciprocal interaction with the productive forces and the superstructure.

Characteristics of economic laws

They are objective in nature and exert their influence through the economic activities of people.

Scientific Abstraction

The most important method for studying Marxist-Leninist Political Economy, involving the removal of accidental, superficial phenomena to retain essential, universal relations.

Karl Marx on Economic Eras

The author of the statement: "Economic eras are distinguished not by what is produced, but by how, and with what instruments of labor, it is produced."

Characteristic of economic policy

Subjective in nature (as opposed to the objective nature of economic laws).

Antoine Montchretien

The first person to introduce the concept of "Political Economy."

William Petty

Considered by Karl Marx to be the founder of British Classical Bourgeois Political Economy.

Adam Smith

Considered the economist of the manufactory period.

David Ricardo

The economist associated with the period of mechanical large-scale industry.