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ontribution to the development of
economic theory? The answer is that it was is not very great. Marx’s teach-
ing made a large difference to political perceptionsand his thinking was
hugely in?uential on the development of historical and sociological
studies. Outside those who took seriously his admonitions to overthrow
the capitalist system altogetherhoweverhis impact on the development
of economics was limited. He produced no important new ideas which
took the subject much beyond the point reached by Ricardo ?fty years
earlierrelyingas he didon existing Classical Economics to provide most
of his Labour Theory of Value-based conclusions. Where he undoubtedly
did have an impactas writings as early as those of John Stuart Mill exem-
plifywas in making it clear that if capitalism did not reform and tame
itself by taking on board all the developments which eventually produced
the welfare statethe risk of subversion was likely to be unacceptably high.
This was a challenge to whichhoweverindustrial capitalist régimes
responded r [link widoczny dla zalogowanych][link widoczny dla zalogowanych]rkably successfully. Future revolutions were seldomif ever
found to have industrial capitalists as their main target. It was landlords in
despotic agrarian countriesespecially those wyilai:
[link widoczny dla zalogowanych]

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