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More and more people have turned to Marxian economics in recent years. But isn't it a defunct branch of the 'dismal science', disproven by the experience of the past 150 years, of no interest to anyone except historians?
In this book, David Ruccio demonstrates why the answer to that question is a resounding 'no'. He offers a clear and accessible introduction to the basic concepts and theoretical strategies of Marxian economics, its key differences from mainstream economics, and its many applications to the real world. Focusing on Marx's critique of both mainstream economic theory and capitalism, Ruccio extends that analysis to contemporary topics--from inequality and economic crises to racial capitalism and the climate crisis--and outlines the key debates among Marxian economists. He concludes with a discussion of the ways Marxian economists today think about the possibility of moving beyond capitalism.
The book is suitable for students and professors, as well as readers outside the academy interested in learning about Marxian economics. It will be useful both as a stand-alone text and as a companion to reading Capital.
In this book, David Ruccio demonstrates why the answer to that question is a resounding 'no'. He offers a clear and accessible introduction to the basic concepts and theoretical strategies of Marxian economics, its key differences from mainstream economics, and its many applications to the real world. Focusing on Marx's critique of both mainstream economic theory and capitalism, Ruccio extends that analysis to contemporary topics--from inequality and economic crises to racial capitalism and the climate crisis--and outlines the key debates among Marxian economists. He concludes with a discussion of the ways Marxian economists today think about the possibility of moving beyond capitalism.
The book is suitable for students and professors, as well as readers outside the academy interested in learning about Marxian economics. It will be useful both as a stand-alone text and as a companion to reading Capital.
"This is a very important, timely book. Capitalism's three crashes since 2000 plus its ever-deepening inequalities lead people everywhere to seek the kinds of critical analysis Marx exemplified and that David Ruccio has built upon. Ruccio is well prepared and positioned to bring a powerful and directly relevant Marxian economics to a time that needs it more than ever."
Richard D. Wolff, University of Massachusetts, Amherst, and founder of Democracy at Work
"Marxism remains central to our understanding of capitalism and the inequities it creates. Marxism as a theory also requires regular scrutiny and rethinking as economies evolve. Ruccio's book provides both a solid treatment of the basic principles and the foundations for the rethinking that must be part of any meaningful paradigm. Amidst the vast literature, this book is a standout. It is sophisticated and accessible, crisply written and consistently relevant."
William Milberg, The New School for Social Research
Richard D. Wolff, University of Massachusetts, Amherst, and founder of Democracy at Work
"Marxism remains central to our understanding of capitalism and the inequities it creates. Marxism as a theory also requires regular scrutiny and rethinking as economies evolve. Ruccio's book provides both a solid treatment of the basic principles and the foundations for the rethinking that must be part of any meaningful paradigm. Amidst the vast literature, this book is a standout. It is sophisticated and accessible, crisply written and consistently relevant."
William Milberg, The New School for Social Research