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Where Marx Was Right: Towards a More Secure Foundation for Heterodox Economies

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  • Howard, M C
  • King, J E

Abstract

Marx has never been very influential among Western economists, but the collapse of all types of socialist movements has reinforced the belief that Marx is irrelevant for economic analysis. At the same time, some heterodox economists have claimed that neoclassical theory is sufficiently flexible to provide a foundation for post-Keynesians, institutionalists, evolutionary and feminist economists. We argue that both conclusions are incorrect and that Marx's treatment of agents' choices and constraints, and of systemic cooperation and conflict, is far superior to that of orthodoxy in several crucial respects and can provide a better grounding for non-neoclassical analyses. Copyright 2001 by Oxford University Press.

Suggested Citation

  • Howard, M C & King, J E, 2001. "Where Marx Was Right: Towards a More Secure Foundation for Heterodox Economies," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(6), pages 785-807, November.
    • Handle: RePEc:oup:cambje:v:25:y:2001:i:6:p:785-807
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    Cited by:

    1. Anthony M. Endres & David A. Harper, 2012. "The kinetics of capital formation and economic organisation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 36(4), pages 963-980.
    2. Plamen Tchipev, 2006. "Evolutionary and Institutional Economic Analysis of the Scarcity Concept in Modern Economics," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 44-58.
    3. Tchipev, D. Plamen, 2006. "Evolutionary and Institutional Analysis of Scarcity Concept in Contemporary Paradigm of the Neoclassical Economics," Post-Print hal-04354521, HAL.
    4. Samuel Hollander, 2002. "Economic Organization, Distribution And The Equality Issue: The Marx-Engels Perspective," Carleton Economic Papers 02-05, Carleton University, Department of Economics.
    5. Howard Petith, 2007. "Marxian Insights from the Mainstream," UFAE and IAE Working Papers 685.07, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    6. Bruno Jossa, 2009. "Alchian And Demsetz'S Critique Of The Cooperative Firm Thirty‐Seven Years After," Metroeconomica, Wiley Blackwell, vol. 60(4), pages 686-714, November.
    7. Howard Petith, 2007. "The Rise of Democracy in Europe and the Fight Against Mass Poverty in Latin America: The Implications for Marxist Thought of Some Recent Mainstream Papers," UFAE and IAE Working Papers 684.07, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).

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