Elgar Companion to Marxist Economics

This Companion takes stock of the trajectory, achievements, shortcomings and prospects of Marxist political economy. It reflects the contributors' shared commitment to bringing the methods, theories and concepts of Marx himself to bear across a wide range of topics and perspectives, and it provides a testimony to the continuing purpose and vitality of Marxist political economy. Some of the contributions found here offer an exposition of basic concepts, accessible to the general reader, laying out Marx's own contribution, its significance, and subsequent positions and debates with and within Marxist political economy. The authors also offer assessments of historical developments to and within capitalism, and of its current character and prospects. Other chapters adopt a mirror-image approach of pinpointing the conditions of contemporary capitalism as a way of interrogating the continuing salience of Marxist analysis. As a whole, the volume analyzes Marxist political economy in three areas: the critique of mainstream economics in all of its versions; the critical presence of Marxist political economy within, and its influence upon, each of the social science disciplines; and, cutting across these, the analysis of specific topics that straddle disciplinary boundaries. This volume will inform and inspire a new generation of students and scholars to become familiar with Marxist political economy from an enlightened and unprejudiced position, and to use their knowledge as both a resource and gateway to future study.

'This will be a valuable resource for scholars, many in fields outside economics, for whom Karl Marx remains such vibrant presence that he is still read and reread in small study groups. It is hard to imagine making any progress in understnading modern capitalise without at least some knowledge of teh basic categories and analytic language provided by Marxian political economy. Space did not permit mention of the many other stimulating chapters in this collection but they convery well that knowledge and language.', ‘This book is a valuable contribution for everyone with an interest in understanding the theory and application of Marxist analysis. It goes well beyond just repeating or explaining what Marx wrote, or even what he had intended. Instead, each of the 61 essays collected in this volume explores a difference subject, some of which, such as Analytical Marxism, neoliberalism, and radical political economy in the USA, only arose long after Marx’s lifetime. . . This book deserves close attention, not just as an academic exercise, but rather as a tool to make sure that Marxist theory again becomes a vital part of wider social, political, and economic discourse, potentially contributing to moving the world a bit closer to Marx’s original vision.’, ‘The Elgar Companion to Marxist Economics is an admirable collection which contains 61 short articles on a myriad of themes within Marxist economics, and from a selection of experts in the field. . . . Simon Mohun provides an accurate account of the difference between productive and unproductive labour in Marxist terms, particularly with regard to the non-productive ‘state sector’ and the domestic sphere. Ben Fine provides an excellent account of the Labour theory of value. Tony Smith offers a penetrating critique of the ‘new economy perspective’. Prabhat Patnaik provides a perspicuous and refreshing take on Lenin which reinstates the libertarian aspect of his thought and provides a clarification of his theory of imperialism. Many of the other articles I have failed to reference set an equally high standard.’

Edited by Ben Fine, Professor of Economics and Alfredo Saad-Filho, Professor of Political Economy, School of Oriental and African Studies, University of London, UK with Marco Boffo, PhD candidate, School of Oriental and African Studies, University of London, UK