Note 14 — THE SOCIALIST ECONOMICS OF KARL MARX AND HIS FOLLOWERS[1]

Accordingly, in later Marxian handling of the questions of exploitation and accumulation, the attention is centered on the "surplus product" rather than on the "surplus value." It is also currently held that the doctrines and practical consequences which Marx derived from the theory of surplus value would remain substantially well founded, even if the theory of surplus value was given up. These secondary doctrines could be saved—at the cost of orthodoxy—by putting a theory of surplus product in the place of the theory of surplus value, as in effect is done by Bernstein (Socialdemokratie in Theorie und Praxis, sec. 5. Also various of the essays included in Zur Geschichte und Theorie des Sozialismus).