Modern economic theory incorporates behavioral economics. In reality people don’t always act rationally or optimally. Time restraints, cognitive limitations, emotional attachment, and trauma all affect decision making.
We are living in an example of how the working class will vote against their own material interests and how deprivation of resources doesn’t inevitably lead to a proletariat uprising.
Nowhere within Capital does Marx actually say proletarian uprising is inevitable; he arguably alludes to this in the Afterword to the Second German Ed. but it’s actually a difficult question whether proletarian revolution is inevitable in Marxism in the first place.
It was obviously known in Marx’s time that people don’t always act rationally or optimally. This isn’t the basis for Marx’s theory.
Modern economic theory incorporates behavioral economics. In reality people don’t always act rationally or optimally. Time restraints, cognitive limitations, emotional attachment, and trauma all affect decision making.
We are living in an example of how the working class will vote against their own material interests and how deprivation of resources doesn’t inevitably lead to a proletariat uprising.
Nowhere within Capital does Marx actually say proletarian uprising is inevitable; he arguably alludes to this in the Afterword to the Second German Ed. but it’s actually a difficult question whether proletarian revolution is inevitable in Marxism in the first place.
It was obviously known in Marx’s time that people don’t always act rationally or optimally. This isn’t the basis for Marx’s theory.