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Notes on the Main Analytical Insufficiencies of the Marxist Theoretical Tradition for the Comprehension of the Contemporary Global Economy

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  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

Abstract

This article aims to analyze how the Marxist and neomarxist approaches demonstrate a relative difficulty in understanding and interpreting the dynamics of the modern world economy (globalization). We attempt in particular to explore the interpretive capabilities and shortcomings in the approach of globalization that stem from Marx’s thought and his followers. We present, in particular, the theoretical contribution of Marx in the study of the internationalized capitalism of his era, the interpretation by Lenin based on the concept of imperialism, the subsequent developments and adjustments in the Marxist analysis of the internationalized developmental phenomenon, as well as some contemporary interpretations that link Marxism and neomarxism with globalization.

Suggested Citation

  • Vlados, Charis, 2019. "Notes on the Main Analytical Insufficiencies of the Marxist Theoretical Tradition for the Comprehension of the Contemporary Global Economy," DUTH Research Papers in Economics 25-2019, Democritus University of Thrace, Department of Economics.
  • Handle: RePEc:ris:duthrp:2019_025
    Note: Journal of Economic and Social Thought , 6(3), 132-155
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    Cited by:

    1. Jem Bendell & Katie Carr, 2021. "Group Facilitation on Societal Disruption and Collapse: Insights from Deep Adaptation," Sustainability, MDPI, vol. 13(11), pages 1-18, June.

    More about this item

    Keywords

    Marxism; Neomarxism; Marxist adjustments; Marxism and globalization; Criticism on Marxism;
    All these keywords.

    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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