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Marx's "base determines superstructure" axiom, however, requires qualification: the base is the whole of productive relationships, not only a given economic element, e.g. the working class; historically, the superstructure varies and develops unevenly in society's different activities; for example, art, politics, economics, etc.
Marxism and Keynesianism is a method of understanding and comparing the works of influential economists John Maynard Keynes and Karl Marx.Both men's works has fostered respective schools of economic thought (Marxian economics and Keynesian economics) that have had significant influence in various academic circles as well as in influencing government policy of various states.
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.
Marx never provided a complete definition of the capitalist mode of production as a short summary, although in his manuscripts he sometimes attempted one. In a sense, it is Marx's three-volume work Capital (1867–1894; sometimes known by its German title, Das Kapital), as a whole that provides his "definition" of the capitalist mode of ...
Base and superstructure: Marx and Engels use the “base-structure” concept to explain the idea that the totality of relations among people with regard to “the social production of their existence” forms the economic basis, on which arises a superstructure of political and legal institutions. To the base corresponds the social ...
The internal contradictions of capital accumulation is an essential concept of crisis theory, which is associated with Marxist economic theory. While the same phenomenon is described in neoclassical economic theory, in that literature it is referred to as systemic risk. [1] [2] [3] [4]
Social formation (German: Gesellschaftsformation) is a Marxist concept (synonymous with 'society') referring to the concrete, historical articulation between the capitalist mode of production, maintaining pre-capitalist modes of production, and the institutional context of the economy (disambiguation).
The immediate post-war period produced little that was Marxist by these criteria, with perhaps the sole exception of Paul Mattick's essays which defended the orthodox theoretical Marxism, particularly on the issue of Marx's theory of crisis, against revisionists such as Paul Sweezy. Mattick's essay "Technology and the Mixed Economy" (1966) was ...