There is some ambiguity surrounding the difference between neo-Marxism and post-Marxism,[11][12] with many thinkers being considered both.[13][14] Prominent neo-Marxist journals include Spectre,[15]Historical Materialism,[16]New Left Review, Rethinking Marxism,[17]Capital & Class,[18]Salvage,[19]Cultural Logic[20] and the Seminar in Contemporary Marxism.[21]
History
Neo-Marxism developed as a result of social and political problems that traditional Marxist theory was unable to sufficiently address.[22]
Following World War I, some neo-Marxists dissented and later formed the Frankfurt School. The Frankfurt School never identified themselves as neo-Marxists. Toward the end of the 20th century, neo-Marxism and other Marxist theories became anathema in democratic and capitalistic Western cultures, where the term attained negative connotations during the Red Scare. For this reason, social theorists of the same ideology since that time have tended to disassociate themselves from the term neo-Marxism.[23]
Some portions of Marxist feminism have used the neo-Marxist label.[68][69] This school of thought believes that the means of knowledge, culture, and pedagogy are part of a privileged epistemology. Neo-Marxist feminism relies heavily on critical theory and seeks to apply those theories in psychotherapy as the means of political and cultural change. Teresa McDowell and Rhea Almeida use these theories in a therapy method called "liberation based healing", which, like many other forms of Marxism, uses sample bias in the many interrelated liberties in order to magnify the "critical consciousness" of the participants towards unrest of the status quo.[69][70][71][68]
Neo-Marxian economics
The terms "neo-Marxian", "post-Marxian", and "radical political economics" were first used to refer to a distinct tradition of economic theory in the 1970s and 1980s that stems from Marxian economic thought. Many of the leading figures were associated with the leftistMonthly Review School. The neo-Marxist approach to development economics is connected with dependency and world systems theories. In these cases, the 'exploitation' that classifies it as Marxist is an external one, rather than the normal 'internal' exploitation of classical Marxism.[4][72]
Big business can maintain selling prices at high levels while still competing to cut costs, advertise and market their products. However, competition is generally limited with a few large capital formations sharing various markets, with the exception of a few actual monopolies (such as the Bell System at the time). The economic surpluses that result cannot be absorbed through consumers spending more. The concentration of the surplus in the hands of the business elite must therefore be geared towards imperialistic and militaristic government tendencies, which is the easiest and surest way to utilise surplus productive capacity.
Exploitation focuses on low wage workers and groups at home, especially minorities. Average earners see the pressures in drive for production destroy their human relationships, leading to wider alienation and hostility. The whole system is largely irrational since though individuals may make rational decisions, the ultimate systemic goals are not. The system continues to function so long as Keynesian full employment policies are pursued, but there is the continued threat to stability from less-developed countries throwing off the restraints of neo-colonial domination.
Labor theory of value
Paul A. Baran introduced the concept of potential economic surplus to deal with novel complexities raised by the dominance of monopoly capital, in particular the theoretical prediction that monopoly capitalism would be associated with low capacity utilization, and hence potential surplus would typically be much larger than the realized surplus. With Paul Sweezy, Baran elaborated the importance of this innovation, its consistency with Marx's labor concept of value and supplementary relation to Marx's category of surplus value.[79]
According to Baran's categories:
Actual economic surplus: "the difference between what society's actual current output and its actual current consumption." Hence, it is equal to current savings or accumulation.
Potential economic surplus: "the difference between that output that could be produced in a given natural and technical environment with the help of employable productive resources, and what might be regarded as essential consumption".
Baran also introduced the concept of planned surplus—a category that could only be operationalized in a rationally planned socialist society. This was defined as "the difference between society's 'optimum' output available in a historically given natural and technological environment under conditions of planned 'optimal' utilization of all available productive resources, and some chosen 'optimal' volume of consumption."[80]
Baran used the surplus concept to analyze underdeveloped economies (or what are now more optimistically called "developing economies") in his Political Economy of Growth.[80]
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Further reading
Willis, Kate. Theories and Practices of Development (2nd ed.). Routledge.
Woods, Alan. "An outline of Marxist economics." Ch. 6 in Reformism or Revolution.
External links
Wikimedia Commons has media related to Neo-Marxism.
Neo-Marxism: An Attempt at Reformation
Liberation Based Healing
Marxist Economics Archived 2009-08-25 at the Wayback Machine Courses, Links and Information
Marxian Economics (archive from Schwartz center of economic policy analysis)
Marxian Political Economy
The Neo-Marxian Schools (archive from Schwartz center of economic policy analysis)
A Marxian Introduction to Modern Economics
International working group on value theory Archived 2012-12-17 at the Wayback Machine
The End of the Market Archived 2020-08-03 at the Wayback Machine A website containing a critical evaluation the idea of the market-clearing price which affirms Marx's theory that in capitalism profitability would decline.
The Neo-Marxian Schools ("Radical Political Economy")