Marx's Economy and Beyond

Abstract

Following renewed interest in Marx?s political economy in the wake of the financial crisis, the paper aims to make a contribution to debates re-evaluating Marx?s theory of capitalism and his conceptualisation of the relationship between the polity and economy. We bring together our approaches from political philosophy, economic sociology, and political economy, making the case for a renewal of historical materialism. We develop a perspective of a radically politicised economy, rather than treating polity and economy as separate spheres. The political implications of this perspective involve an insistence on political and economic democratisation and human rights as an integral part of any socially egalitarian alternatives to capitalist political economies. The paper, written without the full academic paraphernalia, engages with current defences of the classical Marxist understanding of exploitation, especially the labour theory of value, and presents an alternative, neo-Polanyian analysi