Question

a- Is a crisis of underproduction possible under capitalism? Why?

b- Why was Ricardo unable to link the labour theory of value to his theory of price? c- How was Marx able to come up with the science of dialectical materialism?

Answer 1

[a] Generally theory of underproduction , in capitalism donot exist but overproduction does as due to hold of authorities production was always more than demand and also working class works for production of goods generally donot get equitable balanced enough wages to buy back the goods produced by them only.

[b] Ricardo unable to link the labour theory of value to his theory of price because he defined that the labour theory of value holds that number of labors required for the production of goods and services are directly proportional to the value of that goods and services produced.

But his confusion of relating labor theory of value with theory of price occur when he cannot overcome with the example of wine which is made due to storing it for 3-4 yars in cellar.and on the same hand if the prices of veblen goods rises it just add up to their prestige.

[c] The thought of dialectical materialism emerges from statements by Marx within the second edition postface to his work of art, Capital. There Marx says he intends to use hegelian dialectics however in revised kind.
Marx's criticism of philosopher asserts that Hegel's dialectics go wide by addressing concepts, with the human mind. Marx, on the contrary, believed that dialectics ought to deal not with the mental world of concepts however with "the material world", the globe of production and alternative economic activity
For Marx, dialectics isn't a formula for generating preset outcomes however could be a technique for the empirical study of social processes in terms of interrelations, development, and transformation