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Edited by Robert W. Dimand, Mary Ann Dimand and Evelyn L. Forget
313 Natalie Moszkowska (1886–1968)1 Born in Warsaw on (appropriately enough) 1 May 1886, to Jewish parents, Natalie Moszkowska was an original and analytically ambitious socialist economist who made signiﬁcant contributions to the Marxian theory of crisis, the concept of monopoly capital, and the economic interpretation of military expenditure. She wrote her doctoral thesis on workers’ savings banks in the Polish coal and steel industries; it was published by Dietz in 1917. Six years later Moszkowska moved to Switzerland, where she worked as a private tutor and wrote for the trade union and socialist press. She lived in or near Zürich from 1923 until her death on 26 November 1968. Never married, she was survived by her sister Gustava. Apart from her dissertation, Moszkowska published three books. The ﬁrst, Das Marxsche System, appeared in 1929. Moszkowska begins by defending the labour theory of value from a perspective very similar to that of Ladislaus von Bortkiewicz, employing an unusually elaborate array of numerical examples of the transformation of values into prices of production. Her debt to Bortkiewicz is also apparent in the second part of the book, where she criticizes Marx’s volume III treatment of the falling rate of proﬁt (Schoer, 1976). Moszkowska argues that capitalists will introduce a new machine only if it saves at least as much paid labour as it costs to produce. Thus all genuine technological advances increase the productivity of labour; their effect on the rate of proﬁt depends on whether...
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