New Marxist Political Economy as a research program contradicting the neo-classical economic mainstream

Abstract

This article provides a brief survey on the development of theories of political economy, which follow the tradition of the contribution of Karl Marx. Building on this perspective of Marxism it then is discussed how relevant it is for contemporary problems of political economy. It is argued that its impact can be structured according to four strands of Marxism: Matrix Marxism, Macroeconomic Marxism, Evolutionary Marxism, and Synthetic Marxism.