نهاية الاقتصاد السياسي

Political economy is a European science both in origin and in nature. It emerged to explain (new!) phenomena that took place in the European society. These phenomena in question were not familiar, even unprecedented, at least as portrayed by the authoritative thinkers: Machine, commodity, production for the market, social waste, the capital, the capitalist, surplus value, factory, selling labour power, prices, financial exchange, etc. Hence, the emergence of such science that explains these phenomena was inevitable; the science that reveals their objective laws. Therefore, political economy, qua science, emerged to look into the phenomena of the capitalist mode of production. More precisely: the objective of this science is to look into the general, objective law that governs production and distribution in capitalist society. This general law is the law of value. When one denies or ignores this law, one, simultaneously, no longer approaches the science of political economy. Instead, (science!) of economy is called upon. The poisonous latter is taught in schools and universities, in the modern, capitalist world in general, especially in our Arab world, and most especially, in Egypt. The dilemma lies in sustaining the crude confusion between political economy and economy. Moreover, within books, written on its covers: Principles of/ Lectures on political economy, (marginal, Keynesian, mathematical, standard…) theories of economics are often dictated! In this essay, I explain how political economy was historically excluded, and how it was permanently replaced by the official theory, which plays the role of the obedient servant for political institutions and parliaments of gold and blood.