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The decline of neo-liberalism (to the 200th birth anniversary of Karl Marx)

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  • A. V. Buzgalin

Abstract

The author proves that the decline of neo-liberalism and the growth of a new conservative wave are objectively conditioned. The prevailing model of late capitalism that has led to the domination of the market of simulacra, financialization and stagnation, called the ‘new normality’, cannot ensure the progress of the productive forces that are on the verge of not just another technological revolution, but a qualitative change - the genesis of the economy in which a decisive role will be played not by reproductive, but by creative work. Not just re-industrialization - the coming creative revolution - necessitates at least a deep reform of the currently dominant social and economic system. The non-realization of these changes is fraught with conservative regress of both the economy and society. The article provides a substantiation of this conclusion based on the updated classical Marxist methodology and systematizes the main directions of reforming the system of economic relations that respond to the challenges of the progress of the productive forces.

Suggested Citation

  • A. V. Buzgalin, 2018. "The decline of neo-liberalism (to the 200th birth anniversary of Karl Marx)," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 2.
    • Handle: RePEc:nos:voprec:y:2018:id:380
    DOI: 10.32609/0042-8736-2018-2-122-141
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    Cited by:

    1. I. Shovkun, 2019. "Investment climate as a factor of industrial development in Ukraine," Economy and Forecasting, Valeriy Heyets, issue 4, pages 70-103.

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