Marxian economics

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Marxian economics
Concepts Capital (accumulation) Capitalist mode of production Class process Commodity Concrete and abstract labor Constant capital Critique of political economy Exchange value Exploitation Labour power Labour theory of value Law of accumulation Law of value Means of production Mode of production Monopoly capitalism Organic composition of capital Productive forces Profit Prices of production Primitive accumulation Rate of exploitation Rate of profit Real prices and ideal prices Relations of production Reproduction Reserve army of labour Socially necessary labour time Socialist mode of production Socialization Simple commodity production Surplus value Surplus labour Surplus product Use value Wage labour Wage slavery Value-form Value product Variable capital
Topics Capital controversy Crisis theory Economic determinism Immiseration thesis Imperialism Historical materialism Okishio's theorem Overaccumulation Overdetermination Overproduction Kondratiev wave Technological determinism Technological unemployment Temporal single-system interpretation Falling profit-rate tendency Transformation problem Underconsumption Value
Variants Analytical Marxism Classical Marxism Orthodox Marxism Neo-Marxian economics
Works A Contribution to the Critique of Political Economy Das Kapital Grundrisse Economic and Philosophical Manuscripts of 1844 The Accumulation of Capital Monopoly Capital The Theory of Capitalist Development Finance Capital
People Karl Marx Friedrich Engels Vladimir Lenin Rosa Luxemburg Rudolf Hilferding Leon Trotsky Karl Kautsky Ernest Mandel Antonie Pannekoek János Kornai Andrew Kliman Richard D. Wolff Nikolai Kondratiev Paul Sweezy Nobuo Okishio Ian Steedman John Roemer David Laibman Paul A. Baran Stephen Resnick Michał Kalecki
Journals Cambridge Journal of Economics International Journal of Political Economy Monthly Review New School Economic Review Real-World Economics Review Rethinking Marxism Science and Society
Related topics Evolutionary economics Classical economics Marxism Marxist sociology Neoclassical economics Perspectives on capitalism Political economy Schools of economic thought Socialist economics Critiques of capitalism
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Part of a series on
Marxism
Theoretical works Economic and Philosophic Manuscripts of 1844 The Condition of the Working Class in England The German Ideology The Communist Manifesto The Eighteenth Brumaire of Louis Bonaparte Grundrisse Capital Critique of the Gotha Programme Dialectics of Nature The Origin of the Family, Private Property and the State What Is to Be Done? The Accumulation of Capital Philosophical Notebooks Terrorism and Communism The State and Revolution Essays on Marx's Theory of Value History and Class Consciousness History of the Russian Revolution Prison Notebooks The Black Jacobins On Practice Theses on the Philosophy of History Dialectic of Enlightenment A Critique of Soviet Economics The Long Revolution Guerrilla Warfare The Wretched of the Earth Reading Capital Monopoly Capital The Society of the Spectacle Pedagogy of the Oppressed Ideology and Ideological State Apparatuses Ways of Seeing How Europe Underdeveloped Africa Social Justice and the City Women, Race and Class Marxism and the Oppression of Women Imagined Communities Hegemony and Socialist Strategy The Sublime Object of Ideology Time, Labor and Social Domination The Age of Extremes The Origin of Capitalism Empire Late Victorian Holocausts Change the World Without Taking Power Caliban and the Witch An Introduction to the Three Volumes of Karl Marx's Capital Capitalist Realism How to Blow Up a Pipeline Capital in the Anthropocene
Philosophy Alienation Dialectical materialism Ideology Philosophy of nature Philosophy in the Soviet Union Reification
Critique of political economy Capital (accumulation) Crisis theory Commodity Concrete and abstract labor Factors of production Falling profit-rate tendency Means of production Mode of production Capitalist Socialist Productive forces Scientific socialism Surplus product Socially necessary labour time Value-form Wage labour
Sociology Base and superstructure Bourgeoisie Class Class consciousness Classless society Commodity fetishism Communist society Critical theory Cultural hegemony Democracy Dictatorship of the proletariat Soviet Radical Exploitation False consciousness Human nature Immiseration Imperialism Lumpenproletariat Metabolic rift Proletariat Private property Relations of production State theory Working class
History Class struggle Historical determinism Primitive accumulation Proletarian revolution World revolution Theory of historical trajectory
Aspects Aesthetics Archaeology Criminology Cultural analysis Cultural Studies Ethics Film theory Geography Historiography Literary criticism Marxism and religion Sociology Philosophy
Common Variants Structural Autonomist Marxism–Leninism Guevarism Maoism Titoism Trotskyism Neo-Gramscianism Regulation school Third-worldist Hegelian Budapest School Frankfurt School Humanist Neue Marx-Lektüre Open Political Praxis School Both Black Classical Communization Feminist Leninism Neo Post Western
Other Variants Analytical Austromarxism Centrist Council communism Eurocommunism Instrumental Marxism–Leninism–Maoism Nkrumaism Orthodox Revisionist Situationist Socialism with Chinese characteristics Wertkritik Workerism
People Marx Engels Morris Lafargue Kautsky Plekhanov Du Bois Connolly Du Bois Lenin Luxemburg Liebknecht Kollontai Bogdanov Stalin Trotsky Grossman Zinoviev Bloch Lukács Korsch Bukharin Ho Serge Gramsci Galiev Pashukanis Bordiga Benjamin Mao Basu Mariátegui Horkheimer Dutt Brecht Marcuse Kalecki Fromm Cox Lefebvre James Adorno Padmore Sartre Deutscher Beauvoir Sombart Nkrumah Sweezy Emmanuel Hill Bettelheim Draper Jones Hobsbawm Althusser Hinton Williams Freire Mandel Sivanandan Miliband Cabral Thompson Bauman Fanon Kosik Berger Castro Guevara Liebman Heller Guattari Mészáros O'Connor Wallerstein Mies Tronti Debord Amin Hall Nairn Parenti Negri Jameson Dussel Harvey Laclau Bahro Poulantzas Vattimo Badiou Harnecker Altvater Anderson Löwy Vogel Sison Easthope Rancière Berman Przeworski Cohen Therborn Ahmad Losurdo Ture Postone Rodney Bannerji Spivak Newton Sakai Wood Federici Wolff Balibar Eagleton Kurz Hartsock Rowbotham Mouffe Geras Brenner Davis Massey Cleaver Bishop Haraway Panitch Clarke Jessop Davis Wright Fraser Burawoy Holloway Rose Screpanti Tamás Hampton Cano Žižek Berardi Sankara Hennessy McDonnell Douzinas Roediger Foster West Ghandy Marcos Heinrich Prashad Kelley Dean Lordon Linera Fisher Li Coulthard Malm Seymour Toscano Bhattacharya Moufawad-Paul Srnicek Horvat Hamza Saito
Journals Antipode Capital & Class Capitalism Nature Socialism Constellations Critique: Journal of Socialist Theory Historical Materialism Mediations Monthly Review New Left Review Race & Class Rethinking Marxism Science & Society Socialist Register
Related topics 21st-century communist theorists Anarchism Creative destruction Conflict theory Criticism of Marxism Communism Communalism Economic determinism History of communism Left-wing politics Marxian economics New Left Old Left Municipalism Political ecology Socialism Authoritarian Democratic Market Reformist Revolutionary Utopian Left-wing populism Universal class Vulgar Marxism Economism Worker cooperative Workers' council
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Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches.^[1] Because one does not necessarily have to be politically Marxist to be economically Marxian, the two adjectives coexist in usage, rather than being synonymous: They share a semantic field, while also allowing both connotative and denotative differences.

Marxian economics concerns itself variously with the analysis of crisis in capitalism, the role and distribution of the surplus product and surplus value in various types of economic systems, the nature and origin of economic value, the impact of class and class struggle on economic and political processes, and the process of economic evolution.

Marxian economics—particularly in academia—is distinguished from Marxism as a political ideology, as well as from the normative aspects of Marxist thought: this reflects the view that Marx's original approach to understanding economics and economic development is intellectually independent from his own advocacy of revolutionary socialism.^[2][3] Marxian economists do not lean entirely upon the works of Marx and other widely known Marxists, but draw from a range of Marxist and non-Marxist sources.^[4]

Considered a heterodox school, the Marxian school has been criticized by claims relating to inconsistency, failed predictions, and scrutiny of nominally communist countries' economic planning in the 20th century. According to economists such as George Stigler and Robert Solow, Marxist economics are not relevant to modern economics, having "virtually no impact"^[5] and only "represent[ing] a small minority of modern economists".^[6] However, some ideas of the Marxian school have contributed to mainstream understanding of the global economy. Certain concepts developed in Marxian economics, especially those related to capital accumulation and the business cycle, have been fitted for use in capitalist systems; one such example is Joseph Schumpeter's notion of creative destruction.

Marx's magnum opus on critique of political economy was Das Kapital (Capital: A Critique of Political Economy) in three volumes, of which only the first volume was published in his lifetime (1867); the others were published by Friedrich Engels from Marx's notes. One of Marx's early works, Critique of Political Economy, was mostly incorporated into Das Kapital, especially the beginning of volume 1. Marx's notes made in preparation for writing Das Kapital were published in 1939 under the title Grundrisse.