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

Journal of Economic and Social Thought , 6(3), 132-155, 2019

24 Pages Posted: 5 Nov 2019

See all articles by Charis Vlados

Charis Vlados

Democritus University of Thrace, Department of Economics

Date Written: September 2019

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.

Keywords: Marxism, Neomarxism, Marxist adjustments, Marxism and globalization, Criticism on Marxism

Suggested Citation

Vlados, Charis, Notes on the Main Analytical Insufficiencies of the Marxist Theoretical Tradition for the Comprehension of the Contemporary Global Economy (September 2019). Journal of Economic and Social Thought , 6(3), 132-155, 2019, Available at SSRN: https://ssrn.com/abstract=3475556

Charis Vlados (Contact Author)

Democritus University of Thrace, Department of Economics ( email )

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