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Marx’s political economy from the perspective of dynamical systems theory

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  • Giovanni Scarano

Abstract

The paper advances novel interpretations of Marx’s original insights by situating them within the horizon of contemporary scientific approaches, notably dynamical systems theory and statistical physics. Marx’s dialectical method is a mode of analysis predicated on the insight that relations among parts cannot be adequately grasped in abstraction from the relation between the whole and its constituent elements – a defining feature of modern systemic approaches. This perspective renders it possible to reinterpret many of Marx’s key concepts as emergent properties of economic systems. The paper further contends that Marx conceived capitalist development as an intrinsically dynamic process that precludes the notion of equilibrium as a state of rest. In this light, the centrality of disequilibrium within the Marxian framework brings it into an alignment with contemporary theories of deterministic chaos, wherein systems persistently far from equilibrium are nonetheless amenable to rational analysis through the concept of attractors.

Suggested Citation

  • Giovanni Scarano, 2026. "Marx’s political economy from the perspective of dynamical systems theory," Departmental Working Papers of Economics - University 'Roma Tre' 0292, Department of Economics - University Roma Tre.
    • Handle: RePEc:rtr:wpaper:0292
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    References listed on IDEAS

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    1. Paul A. Samuelson, 1959. "A Modern Treatment of the Ricardian Economy: I. The Pricing of Goods and of Labor and Land Services," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 73(1), pages 1-35.
    2. Bertuglia, Cristoforo Sergio & Vaio, Franco, 2005. "Nonlinearity, Chaos, and Complexity: The Dynamics of Natural and Social Systems," OUP Catalogue, Oxford University Press, number 9780198567912.
    3. O. Lange, 1935. "Marxian Economics and Modern Economic Theory," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 2(3), pages 189-201.
    4. Paul A. Samuelson, 1959. "A Modern Treatment of the Ricardian Economy: II. CApital and Interest Aspects of the Pricing Process," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 73(2), pages 217-231.
    5. Lange, Oskar, 1970. "Introduction to Economic Cybernetics," Elsevier Monographs, Elsevier, edition 1, number 9780080066523.
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    Keywords

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    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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