Post by redstar2000 on Feb 26, 2004 15:09:55 GMT -5
Marxist Economics: Introduction
Marxist, neoclassical, and Keynesian economics all have their roots in the "Classical Political Economy" of the early 19th century, but since the later nineteenth century they have developed in different ways. Neoclassical and Keynesian economics, whatever their differences, have remained closer together than either is to Marxist economics. As a result, Marxist economics has not been a part of what the American tradition regards as the "Principles of Economics" and thus is outside the scheme of a book entitled "Essential Principles of Economics." On the other hand, Marxist criticisms of the other traditions in economics (and their criticisms of Marxism) have been important parts of the Reasonable Dialog of Economics in the last two centuries. We resolve this contradiction by exploring Marxist economics in this appendix to the book.
One key point to understand is that Marxist economics is an economic theory of capitalism. Since governments based on Marxist ideology have mostly either collapsed or moved away from the distinctive "Soviet-type" economics system toward more capitalist economic systems, it may seem that Marxist ideas are discredited. What has been discredited is the Soviet-type economic system, which has little to do with the Marxist economic analysis of capitalism. Thus, Marxist economics has as strong (or weak) a case as ever where its analysis of capitalism is concerned.
Marxist Economics
What follows is the clearest and most accessible account of Marxist economics that I've ever run across...especially with regard to developments following the death of Marx.
If you want to understand, at least roughly, what Marxist economic theory is "about", this is a terrific place to start.
Marxist, neoclassical, and Keynesian economics all have their roots in the "Classical Political Economy" of the early 19th century, but since the later nineteenth century they have developed in different ways. Neoclassical and Keynesian economics, whatever their differences, have remained closer together than either is to Marxist economics. As a result, Marxist economics has not been a part of what the American tradition regards as the "Principles of Economics" and thus is outside the scheme of a book entitled "Essential Principles of Economics." On the other hand, Marxist criticisms of the other traditions in economics (and their criticisms of Marxism) have been important parts of the Reasonable Dialog of Economics in the last two centuries. We resolve this contradiction by exploring Marxist economics in this appendix to the book.
One key point to understand is that Marxist economics is an economic theory of capitalism. Since governments based on Marxist ideology have mostly either collapsed or moved away from the distinctive "Soviet-type" economics system toward more capitalist economic systems, it may seem that Marxist ideas are discredited. What has been discredited is the Soviet-type economic system, which has little to do with the Marxist economic analysis of capitalism. Thus, Marxist economics has as strong (or weak) a case as ever where its analysis of capitalism is concerned.
Marxist Economics
What follows is the clearest and most accessible account of Marxist economics that I've ever run across...especially with regard to developments following the death of Marx.
If you want to understand, at least roughly, what Marxist economic theory is "about", this is a terrific place to start.
