This book provides a comprehensive exposition and appraisal of Marx's political economy, beginning with the philosophical and sociological foundations of his work and indication how his economic theory emerged from a critique of classical political economy. The authors proceed to examine in detail the theory of exploitation, capitalist development and imperialism, and pay special attention to the analysis of Marx by later social and economic theorists, including an assessment of the modern relevance of his work.

The authors' position is one of critical sympathy. They share Marx's...

The first volume of this critical history covers the social, political, and theoretical forces behind the development of Marxian economics from Marx's death in 1883 until 1929, the year marking the onset of Stalin's "revolution from above," which subsequently transformed the Soviet Union into a modern superpower. During these years, Marxists in both Russia and Germany found their economic ideas inextricably linked with practical political problems, and treated theory as a guide to action. This book systematically examines the important theoretical literature of the period, including...

This second volume completes a critical history of the social, political, and theoretical forces behind Marxian economics--the only work in English to offer such comprehensive treatment. Beginning with Marxian analyses of the Great Depression and Stalinism, it explores the theories developed to explain the "long boom" in Western capitalism after the Second World War. Later chapters deal with post-Leninist theories of imperialism and continuing controversies in value theory and the theory of exploitation. After outlining recent work on the "second slump," the integration of rational-choice...