Wayne Price, The Value of Radical Theory: An Anarchist, Introduction to Marx’s Critique of Political Economy (AK Press)


The Value of Radical Theory achieves two main goals: It explains Marx’s economic theory, providing readers with a solid foundation in his critique of capitalism. Wayne Price’s political insights also offer a framework through which anarchists can understand and use Marx, while remaining anarchists.

The result is an insightful primer that sidesteps the typical anarchist vs. Marxist debates. Price presents Marx’s theory as an as-yet-unsurpassed explanation of contemporary capitalism, one that will aid in the task of overcoming the market and ushering in an era of collective, participatory control of the economy, inspired by anarchist political and ethical traditions.



Introduction:  Why this book?  Can anarchists learn from Marx?

Part I:  Basics
Chapter 1:  The Labor Theory of Value
Chap. 2:  Cycles, Recessions, and the Falling Rate of Profit

Part II:  Epochs of Capitalism
Chap. 3:  Capitalism’s Dramatic Entrance:  Primitive Accumulation
Chap. 4:  The Epoch of Capitalist Decline and Social Revolution
Chap. 5:  The Post-World War II Boom and Fictitious Capital
Chap. 6:  State Capitalism

Part III:  The Socialist Goal
Chap. 7:  Socialism or Barbarism?
Chap. 8:  What Marx Meant by Socialism and Communism

Conclusion:  An Anarchist Critique of Marx’s Political Economy
appendix:  Maletesta’s Method for an Anarchist Economy

Wayne Price is a long-time writer, theorist, and activist on the Left. He has been involved in a series of revolutionary libertarian-socialist organizations and has been active in dissident caucuses in teacher unions, human rights organizing, and the antiwar movement, from the Vietnam war to today. Price’s adherence to class-struggle anarchism has been complimented by a deep appreciation for Marx’s critique of capitalism. He is the author of The Abolition of the State: Anarchist & Marxist Perspectives (2007) and Anarchism & Socialism: Reformism or Revolution? (2010).
other books by Wayne Price
The Abolition of the State:  Anarchist & Marxist Perspectives (2007)

Anarchism & Socialism:  Reformism or Revolution? (2010)