Marxism: Difference between revisions

{{for|the political ideology developed by Joseph Stalin and commonly associated with states governed by communist parties|Marxism–Leninism}}

'''Marxism''' is a [[political philosophy]] and method of [[socioeconomic]] analysis. It uses a [[Dialectical materialism|dialectical and materialist]] interpretation of historical development,{{sfn|Krupavičius|2011|pp=314–315}} better known as [[historical materialism]], to analyse [[Social class|class]] relations, [[social conflict]], and [[social transformation]]. Marxism originates with the works of 19th-century German philosophers [[Karl Marx]] and [[Friedrich Engels]]. Marxism has developed over time into various branches and [[schools of thought]], and as a result, there is no single, definitive [[Marxist philosophy|Marxist theory]].<ref name="Wolff and Resnick, 1987">{{cite book |last1=Wolff |first1=Richard |author1-link=Richard D. Wolff |last2=Resnick |first2=Stephen |author2-link=Stephen Resnick |url=https://archive.org/details/economicsmarxian00wolf_0 |title=Economics: Marxian versus Neoclassical |year=1987 |publisher=[[Johns Hopkins University Press]] |isbn=978-0801834806 |page=[https://archive.org/details/economicsmarxian00wolf_0/page/130 130] |quote=The German Marxists extended the theory to groups and issues Marx had barely touched. Marxian analyses of the legal system, of the social role of women, of foreign trade, of international rivalries among capitalist nations, and the role of parliamentary democracy in the transition to socialism drew animated debates&nbsp;... Marxian theory (singular) gave way to Marxian theories (plural). |url-access=registration}}</ref> Marxism has had a profound effect in shaping the modern world, with various [[left-wing]] and [[far-left]] political movements taking inspiration from it in varying local contexts.<ref>{{cite web |title=Left-wing / Right-wing |url=https://www.marxists.org/glossary/terms/l/e.htm |access-date=16 July 2022 |website=[[Marxists Internet Archive]] |archive-url=https://web.archive.org/web/20220716014016/https://www.marxists.org/glossary/terms/l/e.htm |archive-date=16 July 2022}}</ref><ref>{{cite web |title=Radical left |url=https://www.dictionary.com/browse/radical-left |access-date=16 July 2022 |website=[[Dictionary.com]] |quote=Radical left is a term that refers collectively to people who hold left-wing political views that are considered extreme, such as supporting or working to establish communism, Marxism, Maoism, socialism, anarchism, or other forms of anticapitalism. The radical left is sometimes called the far left.}}</ref><ref>{{cite journal |last=March |first=Luke |date=2009 |title=Contemporary Far Left Parties in Europe: From Marxism to the Mainstream? |url=https://library.fes.de/pdf-files/ipg/ipg-2009-1/10_a_march_us.pdf |journal=IPG |volume=1 |pages=126–143 |via=[[Friedrich Ebert Foundation]]}}</ref>

[[File:Friedrich Engels portrait (cropped).jpg|thumb|[[Friedrich Engels]] in 1877]]

These inefficiencies manifest themselves as social contradictions in society which are, in turn, fought out at the level of [[Class conflict|class struggle]].<ref name="ComparingEconomic">{{cite book |title=Comparing Economic Systems in the Twenty-First Century |date=2003 |first1=Paul R. |last1=Gregory |first2=Robert C. |last2=Stuart |pages=62 |chapter=Marx's Theory of Change |publisher=[[South-Western College]] Publishing |isbn=0618261818}}</ref> Under the [[Capitalist mode of production (Marxist theory)|capitalist mode of production]], this struggle materialises between the minority who own the [[means of production]] (the [[bourgeoisie]]) and the vast majority of the population who produce goods and services (the [[proletariat]]).<ref>{{cite magazine |url=https://www.newyorker.com/magazine/2016/10/10/karl-marx-yesterday-and-today |title=Karl Marx, Yesterday and Today |first=Louis |last=Menand |author-link=Louis Menand |magazine=[[The New Yorker]] |date=3 October 2016 |access-date=20 January 2022 |archive-url=https://web.archive.org/web/20210704201500/https://www.newyorker.com/magazine/2016/10/10/karl-marx-yesterday-and-today |archive-date=4 July 2021 |url-status=live}}</ref> Starting with the conjectural premise that [[social change]] occurs due to the struggle between different [[Social class|classes]] within society who contradict one another,<ref>{{cite journal |title=Marx's Theory of Classes: Science and Ideology |first=Edward |last=Andrew |journal=[[Canadian Journal of Political Science|Canadian Journal of Political Science / Revue canadienne de science politique]] |volume=8 |number=3 |date=September 1975 |pages=454–466 |publisher=Canadian Political Science Association |doi=10.1017/S0008423900046084 |jstor=3231070 |s2cid=154040628}}</ref> a Marxist would conclude that [[capitalism]] exploits and oppresses the proletariat; therefore, capitalism will inevitably lead to a [[proletarian revolution]].<ref>{{cite journal |title=Historical Inevitability and Human Agency in Marxism [and Discussion] |first1=G. A. |last1=Cohen |author1-link=G. A. Cohen |first2=R. |last2=Veryard |first3=D. H. |last3=Mellor |author3-link=Hugh Mellor |first4=A. G. M. |last4=Last |first5=Randolph |last5=Quirk |author5-link=Randolph Quirk |first6=John |last6=Mason |journal=Proceedings of the Royal Society of London. Series A, Mathematical and Physical Sciences |volume=07 |number=1832 |date=8 September 1986 |pages=65–87 |publisher=[[Royal Society]] |jstor=2397783}}</ref> In a [[socialist]] society, [[private property]]—as the means of production—would be replaced by [[co-operative|cooperative]] ownership.<ref>{{cite journal |title=Karl Marx on the Individual and the Conditions for His Freedom and Development |last=Simirnov |first=G. |journal=The Marxist |volume=3 |number=3–4 |date=July–December 1985 |url=https://www.cpim.org/marxist/198504_marxist_marxism&indv_simirnov.htm |archive-url=https://web.archive.org/web/20210210184046/https://www.cpim.org/marxist/198504_marxist_marxism&indv_simirnov.htm |archive-date=10 February 2021 |url-status=live}}</ref><ref>{{cite book |chapter=Marx's Vision of Sustainable Human Development |first=Paul |last=Burkett |title=Karl Marx |editor1-first=Bertell |editor1-last=Ollman |editor2-first=Kevin B. |editor2-last=Anderson |edition=1st |date=2012 |publisher=[[Routledge]] |location=London |isbn=9781315251196}}</ref> A [[socialist economy]] would not base production on the creation of private profits but on the criteria of satisfying human needs—that is, [[production for use]]. [[Friedrich Engels]] explained that "the capitalist mode of appropriation, in which the product enslaves first the producer, and then the appropriator, is replaced by the mode of appropriation of the products that is based upon the nature of the modern means of production; upon the one hand, direct social appropriation, as means to the maintenance and extension of production—on the other, direct individual appropriation, as means of subsistence and of enjoyment."<ref name="Engels-3"/>

The term ''Marxism'' was popularised by [[Karl Kautsky]], who considered himself an ''[[orthodox Marxist]]'' during the dispute between Marx's orthodox and ''[[Revisionism (Marxism)|revisionist]]'' followers.<ref>{{sfnharvnb|Haupt|2010|p=18–19}}; {{harvnb|Kołakowski|2005|p=}}; {{harvnb|Lichtheim|2015|pp=233, 234–235}}</ref> Kautsky's revisionist rival [[Eduard Bernstein]] also later adopted the term.{{sfn|Haupt|2010|p=18–19}}

{{blockquote|text=Society does not consist of individuals, but expresses the sum of interrelations, the relations within which these individuals stand.|sign=[[Karl Marx]], {{lang|de|[[Grundrisse]]}}, 1858<ref>{{cite book |last=Marx |first=Karl |author-link=Karl Marx |orig-date=1858 |date=1993 |title=[[Grundrisse|Grundrisse: Foundations of the Critique of Political Economy]] |translator-first=M. |translator-last=Nicolaus |publisher=[[Penguin Classics]] |isbn=0140445757 |pagespage=265}}</ref>}}

Marxism uses a [[materialist]] methodology, referred to by Marx and [[Engels]] as the materialist conception of history and later better known as historical materialism, to analyse the underlying causes of societal development and change from the perspective of the collective ways in which humans make their living.{{sfn|Evans|1975|p=53}}{{sfn|Johnston|2015|p=4}} Marx's account of the theory is in ''[[The German Ideology]]'' (1845)<ref>{{cite book |last1=Marx |first1=Karl |author1-link=Karl Marx |last2=Engels |first2=Friedrich |author2-link=Friedrich Engels |date=1932 |orig-date=1845 |url=https://www.marxists.org/archive/marx/works/1877/11/russia.htm |chapter=The German Ideology |title=Marx/Engels Collected Works |volume=5 |location=Moscow |publisher=[[Progress Publisher]] |access-date=11 July 2020 |via=[[Marxists Internet Archive]] |archive-date=29 September 2020 |archive-url=https://web.archive.org/web/20200929180136/https://www.marxists.org/archive/marx/works/1877/11/russia.htm/ |url-status=live}}</ref> and the preface ''[[A Contribution to the Critique of Political Economy]]'' (1859).<ref name="Critique of Political Economy"/> All constituent features of a society ([[social class]]es, political pyramid and [[ideologies]]) are assumed to stem from economic activity, forming what is considered the [[base and superstructure]].<ref>{{cite journal |first=Pawel |last=Zaleski |title=Tocqueville on Civilian Society. A Romantic Vision of the Dichotomic Structure of Social Reality |journal=Archiv für Begriffsgeschichte |publisher=Felix Meiner Verlag GmbH |volume=50 |date=2008 |pages=260–266 |jstor=24360940}}</ref>{{sfn|Johnston|2015|p=4}} The base and superstructure metaphor describes the totality of social relations by which humans produce and re-produce their social existence. According to Marx, the "sum total of the forces of production accessible to men determines the condition of society" and forms a society's economic base.<ref>{{cite encyclopedia |editor1-last=Chambre |editor1-first=Henri |editor2-last=McLellan |editor2-first=David T. |editor2-link=David McLellan (political scientist) |date=2020 |orig-date=1998 |url=https://www.britannica.com/topic/Marxism#ref35144 |title=Historical materialism |encyclopedia=[[Encyclopædia Britannica]] |access-date=11 July 2020 |archive-date=6 July 2020 |archive-url=https://web.archive.org/web/20200706145958/https://www.britannica.com/topic/Marxism#ref35144 |url-status=live}}</ref>

While historical materialism has been referred to as a materialist theory of history, Marx did not claim to have produced a master key to history and that the materialist conception of history is not "an historico-philosophic theory of the {{lang|fr|marche générale}}, imposed by fate upon every people, whatever the historic circumstances in which it finds itself."<ref>{{citation |last=Weber |first=Cameron |date=January 2023 |title=Did Karl Marx's "Turn" the Original Social Theory of Class Struggle? |url=https://mpra.ub.uni-muenchen.de/115897/1/MPRA_paper_115897.pdf |archive-url= |archive-date=}}</ref> In a letter to the editor of the Russian newspaper paper {{lang|ru-latn|Otechestvennyje Zapiski}} (1877),<ref>{{cite book |last1=Marx |first1=Karl |author1-link=Karl Marx |last2=Engels |first2=Friedrich |author2-link=Friedrich Engels |date=1968 |orig-date=1877 |chapter-url=https://www.marxists.org/archive/marx/works/1877/11/russia.htm |chapter=Letter from Marx to Editor of the Otecestvenniye Zapisky |title=Marx and Engels Correspondence |location=New York |publisher=International Publishers |access-date=11 July 2020 |via=[[Marxists Internet Archive]] |archive-date=29 September 2020 |archive-url=https://web.archive.org/web/20200929180136/https://www.marxists.org/archive/marx/works/1877/11/russia.htm/ |url-status=live}}</ref> he explained that his ideas were based upon a concrete study of the actual conditions in Europe.<ref>{{cite journal |last=Wittfogel |first=Karl A. |date=July 1960 |title=The Marxist View of Russian Society and Revolution |journal=[[World Politics]] |location=Cambridge |publisher=[[Cambridge University Press]] |volume=12 |issue=4 |pages=487–508 [493] |doi=10.2307/2009334 |jstor=2009334 |s2cid=155515389}} Quote at p. 493.</ref>

[[Exploitation of labour|Exploitation]] is a matter of [[surplus labour]]—the amount of labour performed beyond what is received in goods.<ref name="Holmstrom 1977">{{cite journal |last=Holmstrom |first=Nancy |date=June 1977 |title=Exploitation |journal=[[Canadian Journal of Philosophy]] |volume=7 |number=2 |pages=353–369 |doi=10.1080/00455091.1977.10717024 |jstor=40230696}}</ref><ref>{{cite book |last=Marx |first=Karl |author-link=Karl Marx |title=[[Capital, Volume I]] |publisher=[[Penguin Books|Penguin]] |date=1976 |page=647}}</ref> Exploitation has been a [[socioeconomic]] feature of every [[class society]] and is one of the principal features distinguishing the social classes.{{sfn|Callinicos|2010|pp=98–99}}{{sfn|Johnston|2015|p=5}} The power of one social class to control the [[means of production]] enables its exploitation of other classes.{{sfn|Callinicos|2010|pp=100–103}} Under capitalism, the [[labour theory of value]] is the operative concern, whereby the [[Value (economics)|value]] of a [[Commodity (Marxism)|commodity]] equals the socially necessary labour time required to produce it. Under such conditions, [[surplus value]]—the difference between the value produced and the value received by a labourer—is synonymous with ''surplus labour,'' and capitalist exploitation is thus realised as deriving surplus value from the worker.<ref name="Holmstrom 1977"/>{{sfn|Callinicos|2010|pp=97–100}}

In [[Pre-industrial society|pre-capitalist economies]], exploitation of the worker was achieved via physical [[coercion]]. Under the capitalist mode of production, workers do not own the means of production and must "voluntarily" enter into an exploitative work relationship with a capitalist to earn the necessities of life. The worker's entry into such employment is voluntary because they choose which capitalist to work for. However, the worker must work or starve. Thus, exploitation is inevitable, and the voluntary nature of a worker participating in a capitalist society is illusory; it is production, not circulation, that causes exploitation. Marx emphasised that capitalism ''per se'' does not cheat the worker.<ref>{{cite book |author-link=Allen W. Wood |last=Wood |first=Allen W. |date=2004 |title=Karl Marx |location=New York |publisher=[[Routledge]] |isbn=9780415316989}} {{page needed|date=June 2024}}</ref>

* Bourgeoisie: those who "own the means of production" and buy labour power from the proletariat, thus exploiting the proletariat. They subdivide as bourgeoisie and the petite bourgeoisie.<ref name="Siegrist">{{cite encyclopedia |last=Siegrist |first=Hannes |date=2001 |title=Bourgeoisie and Middle Classes, History of |editor-last=Wright |editor-first=James D. |editor-link=James D. Wright |encyclopedia=[[International Encyclopedia of the Social & Behavioral Sciences]] |volume=2 |edition=2nd |location=Oxford |publisher=[[Elsevier]] |pages=784–789 |isbn=9780080430768 |doi=10.1016/B978-0-08-097086-8.62013-5}}</ref>

** [[Petite bourgeoisie]]: those who work and can afford to buy little labour power (i.e. [[Small business|small business owners]], [[peasant]]s, [[landlord]]s and trade workers). Marxism predicts that the continual reinvention of the means of production eventually would destroy the petite bourgeoisie, degrading them from the [[middle class]] to the proletariat.<ref name="Siegrist"/>

* [[Peasantry]] and farmers: a scattered class incapable of organising and effecting [[Socioeconomics|socioeconomic]] change, most of whom would enter the proletariat while some would become landlords.<ref>{{cite book |last=Wolf |first=Eric R. |author-link=Eric Wolf |date=1999 |title=Peasant Wars of the Twentieth Century |publisher=[[University of Oklahoma Press]] |chapter=Conclusion |page=294}}</ref>

Class consciousness denotes the awareness—of itself and the social world—that a social class possesses and its capacity to act rationally in its best interests.<ref>{{Cite book |last=Parenti |first=Michael |author-link=Michael Parenti |title=Power and the Powerless |chapter=Class Consciousness and Individualized Consciousness |pages=94–113 |publisher=St. Martin's Press |date=1978 |isbn=0-312-63373-4}}</ref><ref>{{cite encyclopedia |title=Class consciousness - Social Stratification, Marxism {{&}} Class Conflict |first=André |last=Munro |url=https://www.britannica.com/topic/class-consciousness |encyclopedia=[[Encyclopædia Britannica]]}}</ref> Class consciousness is required before a social class can effect a successful revolution and, thus, the [[dictatorship of the proletariat]].<ref>{{Cite book |title=Sociological Theory in the Classical Era |first1=Laura Desfor |last1=Edles |first2=Scott |last2=Appelrouth |publisher=[[SAGE Publications]] |year=2020 |isbn=978-1506347820 |page=48}}</ref>

This new way of thinking was invented because [[socialists]] believed that [[common ownership]] of the means of production (i.e. the [[Industry (economics)|industries]], land, wealth of nature, trade apparatus and wealth of the society) would abolish the exploitative working conditions experienced under capitalism.<ref name="Engels-3">{{cite book |last=Engels |first=Friedrich |author-link=Friedrich Engels |date=Spring 1880 |chapter=III [Historical Materialism]] |title=[[Socialism: Utopian and Scientific]] |chapter-url=https://www.marxists.org/archive/marx/works/1880/soc-utop/ch03.htm |via=[[Marxist Internet Archive]]}}</ref><ref>{{cite book |last=Goldman |first=Emma |author-link=Emma Goldman |date=1932 |chapter=1 |title=There Is No Communism in Russia |url=https://theanarchistlibrary.org/library/emma-goldman-there-is-no-communism-in-russia |access-date=29 January 2024 |via=The Anarchist Library |language=en}}</ref> Through working class revolution, the [[State (polity)|state]] (which Marxists saw as a weapon for the subjugation of one class by another)<ref>{{cite book |last=Lukács |first=György |author-link=György Lukács |date=1924 |chapter=The State as Weapon |chapter-url=https://www.marxists.org/archive/lukacs/works/1924/lenin/ch05.htm |title=Lenin: A Study on the Unity of his Thought |via=[[Marxists Internet Archive]]}}</ref><ref>{{cite news |last=Mitchinson |first=Phil |date=21 July 2010 |title=Marxism and the state |url=https://socialist.net/marxism-and-the-state/ |work=[[Socialist Appeal (UK, 1992)|Socialist Appeal]] |archive-url=https://web.archive.org/web/20230606102252/https://socialist.net/marxism-and-the-state/ |archive-date=6 June 2023}}</ref> is seized and used to suppress the hitherto ruling class of capitalists and (by implementing a commonly owned, democratically controlled workplace) create the society of [[communism]] which Marxists see as true democracy.<ref>{{cite web |first=Søren |last=Mau |date=18 July 2023 |title=Communism is Freedom |url=https://www.versobooks.com/en-gb/blogs/news/communism-is-freedom |website=[[Verso Books]] Blog |archive-url=https://web.archive.org/web/20240603044105/https://www.versobooks.com/en-gb/blogs/news/communism-is-freedom |archive-date=3 June 2024}}</ref> An economy based on cooperation on human need and social betterment, rather than competition for profit of many independently acting profit seekers, would also be the end of class society, which Marx saw as the fundamental division of all hitherto existing history.<ref name="The Communist Manifesto"/> Marx saw the fundamental nature of capitalist society as little different from that of a slave society in that one small group of society exploits the larger group.<ref>{{cite magazine |last1=Foster |first1=John Bellamy |author1-link=John Bellamy Foster |first2=Hannah |last2=Holleman |first3=Brett |last3=Clark |date=1 July 2020 |title=Marx and Slavery |magazine=[[Monthly Review]] |url=https://monthlyreview.org/2020/07/01/marx-and-slavery/ |archive-url=https://web.archive.org/web/20240108225402/https://monthlyreview.org/2020/07/01/marx-and-slavery/ |archive-date=8 January 2024}}</ref>

Classical Marxism denotes the collection of socio-eco-political theories expounded by [[Karl Marx]] and [[Friedrich Engels]].<ref>{{cite journal |url=http://isj.org.uk/classical-marxism-and-the-question-of-reformism/ |title=Classical Marxism and the question of reformism |last=Gluckstein |first=Donny |author-link=Donny Gluckstein |date=26 June 2014 |journal=[[International Socialism (magazine)|International Socialism]] |number=143 |access-date=19 December 2019 |archive-url=https://web.archive.org/web/20210813092715/http://isj.org.uk/classical-marxism-and-the-question-of-reformism/ |archive-date=13 August 2021 |url-status=live}}</ref> As [[Ernest Mandel]] remarked, "Marxism is always open, always critical, always self-critical."<ref>{{cite book |last=Mandel |first=Ernest |author-link=Ernest Mandel |date=1994 |title=Revolutionary Marxism and Social Reality in the 20th Century |publisher=[[Humanities Press International]] |isbn=0-391-03800-1 |page=50}}</ref> Classical Marxism distinguishes ''Marxism'' as broadly perceived from "what Marx believed." In 1883, Marx wrote to his son-in-law [[Paul Lafargue]] and French labour leader [[Jules Guesde]]—both of whom claimed to represent Marxist principles—accusing them of "revolutionary phrase-mongering" and denying the value of reformist struggle.{{citation<ref needed|datename=June 2024}}"PPO"/> From Marx's letter derives Marx's famous remark that, if their politics represented Marxism, '{{lang|fr|ce qu'il y a de certain c'est que moi, je ne suis pas Marxiste}}' ('what is certain is that I myself am not a Marxist')."<ref name="PPO">{{cite book |last1=Marx |first1=Karl |author1-link=Karl Marx |last2=Guesde |first2=Jules |author2-link=Jules Guesde |date=1880 |url=http://www.marxists.org/archive/marx/works/1880/05/parti-ouvrier.htm |title=The Programme of the Parti Ouvrier |access-date=11 July 2020 |via=[[Marxists Internet Archive]] |archive-date=1 July 2020 |archive-url=https://web.archive.org/web/20200701023827/https://www.marxists.org/archive/marx/works/1880/05/parti-ouvrier.htm |url-status=live}}</ref><ref>{{cite book |last1=Hall |first1=Stuart |first2=Dave |last2=Morely |first3=Kuan-Hsing |last3=Chen |title=Stuart Hall: Critical Dialogues in Cultural Studies |date=1996 |publisher=Routledge |location=London |isbn=978-0415088039 |page=418 |access-date=4 March 2013 |url=https://books.google.com/books?id=EPENAAAAQAAJ&pg=PA418 |quote=I have no hesitation in saying that this represents a gigantic crudification and simplification of Marx's work—the kind of simplification and reductionism which once led him, in despair, to say "if that is marxism, then I am not a marxist. |archive-date=19 March 2022 |archive-url=https://web.archive.org/web/20220319081927/https://books.google.com/books?id=EPENAAAAQAAJ&pg=PA418 |url-status=live |via=[[Google Books]]}}</ref>

Libertarian Marxism is often critical of [[reformist]] positions such as those held by [[social democrats]].<ref>{{cite magazine |url=http://libcom.org/library/social-democracy-1-aufheben-8 |title=The Retreat of Social Democracy&nbsp;... Re-imposition of Work in Britain and the 'Social Europe' |magazine=Aufheben |issue=8 |date=1999 |access-date=24 April 2022 |archive-date=5 April 2022 |archive-url=https://web.archive.org/web/20220405120630/https://libcom.org/library/social-democracy-1-aufheben-8 |url-status=live}}</ref> Libertarian Marxist currents often draw from [[Karl Marx]] and [[Friedrich Engels]]' later works, specifically the {{lang|de|[[Grundrisse]]}} and ''[[The Civil War in France]]'';<ref>{{cite book |first=Ernesto |last=Screpanti |author-link=Ernesto Screpanti |title=Libertarian communism: Marx Engels and the Political Economy of Freedom |publisher=[[Palgrave Macmillan]] |location=London |date=2007 |isbn=978-0230018969}}</ref> emphasising the Marxist belief in the ability of the [[working class]] to forge its destiny without the need for a [[Vanguardism|vanguard party]] to mediate or aid its liberation.<ref>{{cite journal |first=Hal |last=Draper |author-link=Hal Draper |title=The Principle of Self-Emancipation in Marx and Engels |journal=[[Socialist Register|The Socialist Register]] |volume=8 |issue=8 |pages=81–104 |url=http://socialistregister.com/index.php/srv/article/view/5333 |date=1971 |access-date=25 April 2015 |archive-date=5 March 2016 |archive-url=https://web.archive.org/web/20160305121403/http://socialistregister.com/index.php/srv/article/view/5333 |url-status=live}}</ref> Along with [[anarchism]], libertarian Marxism is one of the main currents of [[libertarian socialism]].<ref>{{citation |last=Chomsky |first=Noam |author-link=Noam Chomsky |url=http://www.chomsky.info/audionvideo/19700216.mp3 |title=Government In The Future |publisher=Poetry Center of the New York YM-YWHA |archive-url=https://web.archive.org/web/20130116194522/http://www.chomsky.info/audionvideo/19700216.mp3 |archive-date=16 January 2013 |type=Lecture}}</ref>

Marxian economics is a school of economic thought tracing its foundations to the critique of classical [[political economy]] first expounded upon by [[Karl Marx]] and [[Friedrich Engels]].<ref name="Wolff and Resnick, 1987"/> Marxian economics concerns itself with the analysis of [[Crisis theory|crisis]] in capitalism, the role and distribution of the [[surplus product]] and [[surplus value]] in various types of [[economic system]]s, the nature and origin of [[Value (economics)|economic value]], the impact of class and class struggle on economic and political processes, and the process of [[Evolutionary economics|economic evolution]]. Although the Marxian school is considered [[heterodox economics|heterodox]], ideas that have come out of Marxian economics have contributed to mainstream understanding of the global economy. Certain concepts of Marxian economics, especially those related to [[capital accumulation]] and the [[business cycle]], such as [[creative destruction]], have been fitted for use in capitalist systems.<ref>{{cite journal |last1=Loesche |first1=Frank |last2=Torre |first2=Ilaria |title=Creative Destruction |journal=Encyclopedia of Creativity |edition=Third |date=2020 |pages=226–231 |doi=10.1016/B978-0-12-809324-5.23696-1|isbn=9780128156155 |s2cid=242692186}}</ref><ref>{{cite book |last=Marx |first=Karl |author-link=Karl Marx |title=Theories of Surplus-Value: "Volume IV" of Capital |publisher=[[Lawrence & Wishart]] |location=London |volume=2 |pages=495–96 |url=https://books.google.com/books?id=sU23AAAAIAAJ |access-date=10 November 2010 |year=1969 |isbn=9780853151944 |orig-year=1863}}</ref><ref>{{cite book |last1=Aghion |first1=Philippe |last2=Howitt |first2=Peter |title= Endogenous growth theory |url=https://mitpress.mit.edu/9780262528467/endogenous-growth-theory/ |access-date=29 December 2023 |year=1998 |publisher=[[MIT Press]] |location=Cambridge, MA. |isbn=9780262011662}}</ref>

Marxist historiography is a school of [[historiography]] influenced by Marxism, the chief tenets of which are the centrality of [[social class]] and [[economic]] constraints in determining historical outcomes. Marxist historiography has contributed to the history of the [[working class]], oppressed nationalities, and the [[methodology]] of [[People's history|history from below]]. [[Friedrich Engels]]' most important historical contribution was {{lang|de|Der deutsche Bauernkrieg}} about the [[German Peasants' War]] which analysed social warfare in early Protestant Germany regarding emerging capitalist classes.<ref>{{cite journal |last=Wolf |first=Eric R. |date=Spring 1987 |title=The Peasant War in Germany: Friedrich Engels as Social Historian |journal=[[Science & Society]] |publisher=[[Guilford Press]] |volume=51 |number=1 |pages=82–92 |jstor=40402763}}</ref> ''The German Peasants' War'' indicates the Marxist interest in [[People's history|history from below]] with class analysis and attempts a dialectical analysis. <ref>{{cite book |title=The Elgar Companion to Marxist Economics |first1=Ben |last1=Fine |author1-link=Ben Fine |first2=Alfredo |last2=Saad-Filho |first3=Marco |last3=Boffo |date=January 2012 |publisher=[[Edward Elgar Publishing]] |page=212 |isbn=9781781001226 |url=https://books.google.com/books?id=xe0VQArHt8sC&q=determinism&pg=PA212}}</ref><ref>{{cite book |title=The Problem of Freedom in Marxist Thought |url=https://books.google.com/books?id=A2WSBgAAQBAJ&q=marxist+history+deterministic&pg=PA5 |page=5 |first=J. J. |last=O'Rourke |date=6 December 2012 |publisher=[[Springer Science+Business Media]] |isbn=9789401021203}}</ref><ref>{{cite book |title=Fifty Key Works of History and Historiography |url=https://books.google.com/books?id=9pem7Ip_WUgC&pg=PA247 |first=Kenneth |last=Stunkel |date=23 May 2012 |page=247 |publisher=[[Routledge]] |isbn=9781136723667}}</ref>

While some members of the group, most notably [[Christopher Hill (historian)|Christopher Hill]] and E. P. Thompson, left the CPGB after the [[1956 Hungarian Revolution]],<ref>{{cite book |title=The Crisis of Theory: E. P. Thompson, the New Left and Postwar British Politics |last=Hamilton |first=Scott |publisher=[[Manchester University Press]] |year=2012 |location=Manchester |chapter=Yesterday the struggle: 'Outside the Whale' and the fight for the 1930s |page=52}}</ref> the common points of British Marxist historiography continued in their works. Thompson's ''[[The Making of the English Working Class]]'' is one of the works commonly associated with this group.<ref>{{cite journal |last=Steinberg |first=Marc W. |date=April 1991 |title=The Re-Making of the English Working Class? |journal=Theory and Society |volume=20 |number=2 |pages=173–197 |jstor=657718}}</ref><ref>{{cite journal |last=Howell |first=David |date=10 October 2014 |title=Creativities in Contexts: E. P. Thompson's The Making of the English Working Class |journal=Contemporary British History |volume=28 |number=4 |pages=517–533 |doi=10.1080/13619462.2014.962918}}</ref> [[Eric Hobsbawm]]'s ''Bandits'' is another example of this group's work. [[C. L. R. James]] was also a great pioneer of the 'history from below' approach. Living in Britain when he wrote his most notable work, ''[[The Black Jacobins]]'' (1938), he was an [[Anti-Stalinist left|anti-Stalinist]] Marxist and so outside of the CPGB. In India, B. N. Datta and [[Damodar Dharmananda Kosambi|D. D. Kosambi]] are the founding fathers of Marxist historiography. Today, the senior-most scholars of Marxist historiography are [[Ram Sharan Sharma|R. S. Sharma]], [[Irfan Habib]], [[Romila Thapar]], [[D. N. Jha]], and [[K. N. Panikkar]], most of whom are now over 75 years old.<ref>{{cite book |editor-last=Bottomore |editor-first=Thomas |editor-link=Thomas Bottomore |date=1991 |title=A Dictionary of Marxist Thought |publisher=[[Wiley-Blackwell]] |page=54 |isbn=978-0631180821}}</ref>

Marxist literary criticism is a loose term describing [[literary criticism]] based on [[Socialism|socialist]] and [[dialectic]] theories.<ref>{{cite book |first=Terry |last=Eagleton |author-link=Terry Eagleton |title=Marxism and Literary Criticism |location=Berkeley |publisher=[[University of California Press]] |date=1976}}</ref> Marxist criticism views [[Literature|literary works]] as reflections of the [[Institution|social institutions]] from which they originate. According to Marxists, even literature is a social institution with a specific ideological function based on the background and ideology of the author. Marxist literary critics include [[Mikhail Bakhtin]], [[Walter Benjamin]], [[Terry Eagleton]], and [[Fredric Jameson]].<ref>{{cite web |first=Daniel |last=Hartley |title=Marxist Literary Criticism: An Introductory Reading Guide |date= |url=https://www.historicalmaterialism.org/marxist-literary-criticism-an-introductory-reading-guide/ |website=historicalmaterialism.org |archive-url= |archive-date=}}</ref>

Marx addressed the [[Marx's theory of alienation|alienation]] and [[Exploitation of labour|exploitation]] of the working class, the [[Capitalist mode of production (Marxist theory)|capitalist mode of production]] and historical materialism.{{sfn|Guo|2011|p=1495}}{{sfn|Krupavičius|2011|p=314}} He is famous for analysing history in terms of class struggle, summarised in the initial line introducing ''[[The Communist Manifesto]]'' (1848): "The history of all hitherto existing society is the history of class struggles."<ref name="The Communist Manifesto">{{cite book |last1=Marx |first1=Karl |author1-link=Karl Marx |chapter=Bourgeois and Proletarians |title=The Communist Manifesto |date=1848 |location=London |chapter-url=https://www.marxists.org/archive/marx/works/1848/communist-manifesto/ch01.htm#007 |access-date=12 March 2019 |publisher=[[Marxists Internet Archive]] |archive-date=27 January 2018 |archive-url=https://web.archive.org/web/20180127164331/https://www.marxists.org/archive/marx/works/1848/communist-manifesto/ch01.htm#007 |url-status=live}}</ref>

In 1847, they began writing ''The Communist Manifesto'' (1848), based on Engels' ''The Principles of Communism''. Six weeks later, they published the 12,000-word pamphlet in February 1848. In March, Belgium expelled them, and they moved to [[Cologne]], where they published the {{lang|de| [[Neue Rheinische Zeitung]]}}, a politically [[Political radicalism|radical]] newspaper. By 1849, they had to leave Cologne for London. The Prussian authorities pressured the British government to expel Marx and Engels, but Prime Minister [[Lord John Russell]] refused.{{Citation needed|date=April 2021}}

With the [[October Revolution]] in 1917, the [[Bolsheviks]] took power from the [[Russian Provisional Government]].<ref>{{cite book |last=Wade |first=Rex A. |author-link=Rex A. Wade |date=2004 |chapter="All Power to The Soviets": The Bolsheviks Take Power |title=Revolutionary Russia: New Approaches |publisher=[[Routledge]] |isbn=0-203-33984-3 |page=211}}</ref> The Bolsheviks established the first [[socialist state]] based on the ideas of [[soviet democracy]] and [[Leninism]].<ref>{{cite book |last=Acton |first=Edward |title=Critical Companion to the Russian Revolution, 1914-1921 |editor1-first=Edward |editor1-last=Acton |editor2-first=Vladimir Iu. |editor2-last=Cherniaev |editor3-first=William G. |editor3-last=Rosenberg |year=1997 |publisher=[[Indiana University Press]] |isbn= |page=8}}</ref> Their newly formed federal state promised to end Russian involvement in [[World War I]] and establish a revolutionary worker's state. Lenin's government also instituted a number of progressive measures such as [[Universal access to education|universal education]], [[universal healthcare]] and [[Women in Russia|equal rights for women]].<ref>{{cite book |last1=Adams |first1=Katherine H. |last2=Keene |first2=Michael L. |title=After the Vote Was Won: The Later Achievements of Fifteen Suffragists |date=10 January 2014 |publisher=McFarland |isbn=978-0-7864-5647-5 |page=109 |url=https://books.google.com/books?id=oyaxYvSG6gAC&dq=lenin+universal+literacy+after+the+vote+was+won&pg=PA109}}</ref><ref>{{cite book |last=Ugri͡umov |first=Aleksandr Leontʹevich |title=Lenin's Plan for Building Socialism in the USSR, 1917–1925 |date=1976 |publisher=Novosti Press Agency Publishing House |page=48 |url=https://books.google.com/books?id=gXknAQAAMAAJ&q=lenin+universal+literacy}}</ref> 50,000 workers had passed a resolution in favour of Bolshevik demand for transfer of power to the [[soviets]].<ref>{{cite book |last=Head |first=Michael |title=Evgeny Pashukanis: A Critical Reappraisal |date=12 September 2007 |publisher=[[Routledge]] |isbn=978-1-135-30787-5 |pages=71–72 |url=https://books.google.com/books?id=PYGNAgAAQBAJ&dq=october+revolution+50+000+workers&pg=PT83}}</ref><ref>{{cite book |last=Shukman |first=Harold |title=The Blackwell Encyclopedia of the Russian Revolution |url=https://books.google.com/books?id=ScabEAAAQBAJ&dq=october+revolution+50+000+workers&pg=PA21 |publisher=[[John Wiley & Sons]] |date=5 December 1994 |page=21 |isbn=978-0-631-19525-2}}</ref> Following the October Revolution, the Soviet government struggled with the [[White Movement]] and several independence movements in the [[Russian Civil War]]. This period is marked by the establishment of many socialist policies and the development of new socialist ideas, with [[Marxism–Leninism]] becoming the dominant ideological strain.<ref>{{cite book |editor1-last=Bullock |editor1-first=Alan |editor1-link=Alan Bullock |editor2-last=Trombley |editor2-first=Stephen |editor2-link=Stephen Trombley |title=The New Fontana Dictionary of Modern Thought |edition=Third |publisher=[[HarperCollins]] |date=1999 |isbn=978-0006863830 |page=506}}</ref><ref>{{cite magazine |last=Lisichkin |first=G. |date=1989 |script-title=ru:Мифы и реальность |title=Mify i real'nost' |language=ru |trans-title=Myths and reality |magazine=[[Novy Mir]] |volume=3 |pages=59}}</ref>

In 1919, the nascent Soviet Government established the [[Communist Academy]] and the [[Marx–Engels–Lenin Institute]] for doctrinal Marxist study and to publish official ideological and research documents for the Russian Communist Party.<ref>{{cite book |last=David-Fox |first=Michael |url=http://dx.doi.org/10.7591/9781501705397 |title=Revolution of the Mind: Higher Learning among the Bolsheviks, 1918–1929 |date=1 November 2016 |publisher=[[Cornell University Press]] |isbn=978-1-5017-0539-7}}</ref><ref>{{cite book |last=Barber |first=John |date=1981 |title=Soviet Historians in Crisis, 1928-1932 |publisher=[[Palgrave Macmillan]] |isbn=978-1-349-05239-4 |page=16}}</ref> With Lenin's death in 1924, there was an internal struggle in the Soviet Communist movement, mainly between [[Joseph Stalin]] and [[Leon Trotsky]], in the form of the [[Right Opposition]] and [[Left Opposition]], respectively. These struggles were based on both sides' different interpretations of Marxist and Leninist theory based on the situation of the [[Soviet Union]] at the time.<ref>{{cite book |last=McMeekin |first=Sean |date=2017 |title=The Russian Revolution: A New History |publisher=[[Basic Books]] |isbn=978-0465039906}}</ref>

Following Mao's death and the ascendancy of [[Deng Xiaoping]], Maoism and official Marxism in China were reworked. ThisCommonly referred to as [[socialism with Chinese characteristics]], this new modelpath was ainitially newercentred dynamicaround form[[Deng ofXiaoping Theory]], which claims to uphold Marxism–Leninism and Maoism, inwhile adapting them to Chinese conditions.<ref>{{cite news |title=The Years of Hardship and Danger |url=http://cpcchina.chinadaily.com.cn/people/2010-09/14/content_11301454_6.htm |access-date=24 October 2017 |work=[[China Daily]] |date=14 September 2010 |archive-url=https://web.archive.org/web/20171024153451/http://cpcchina.chinadaily.com.cn/people/2010-09/14/content_11301454_6.htm Commonly|archive-date=24 referredOctober to2017 as|url-status=dead}}</ref><ref>{{cite socialismbook with|first=Wei-Wei Chinese|last=Zhang Characteristics,|title=Ideology thisand neweconomic pathreform wasunder centredDeng aroundXiaoping, 1978–1993 |publisher=[[Routledge]] |date=1996}}</ref> Deng's Xiaoping Theory was based on [[Four Cardinal Principles]], which sought to uphold the central role of the Chinese Communist Party and uphold the principle that China was in the [[primary stage of socialism]] and that it was still working to build a communist society based on Marxist principles.<ref>{{cite book |last1=Schram |first1=Stuart |year=1989 |title=The Thought of Mao Tse-Tung |publisher=[[Cambridge University Press]] |isbn=978-0521310628}}</ref><ref>{{cite news |url=http://en.people.cn/dengxp/vol2/text/b1290.html |title=Uphold the Four Cardinal Principles |date=30 March 1979 |access-date=27 March 2020 |work=[[The People's Daily]] |archive-url=https://web.archive.org/web/20190827102126/http://en.people.cn/dengxp/vol2/text/b1290.html |archive-date=27 August 2019 |url-status=dead}}</ref><ref>{{cite book |last1=Shambaugh |first1=David |title=The Modern Chinese State |year=2000 |publisher=[[Cambridge University Press]] |isbn=9780521776035 |page=184}}</ref>

In 1959, the [[Cuban Revolution]] led to the victory of [[Fidel Castro]] and his [[July 26 Movement]]. Although the revolution was not explicitly socialist, upon victory, Castro ascended to the position of prime minister and adopted the [[Leninist]] model of socialist development, allying with the Soviet Union.{{sfn|Bourne|1986}}{{sfn|Coltman|2003}} One of the leaders of the revolution, the Argentine Marxist revolutionary [[Che Guevara]], subsequently went on to aid revolutionary socialist movements in [[Democratic Republic of the Congo|Congo-Kinshasa]] and Bolivia, eventually being killed by the Bolivian government, possibly on the orders of the [[Central Intelligence Agency]] (CIA), although the CIA agent sent to search for Guevara, Felix Rodriguez, expressed a desire to keep him alive as a possible bargaining tool with the Cuban government. He posthumously went on to become an internationally recognised icon.<ref> {{cite news |title=Cuba pays tribute to Che Guevara |url=http://news.bbc.co.uk/2/hi/americas/7033880.stm |work=[[BBC News]] |access-date=14 June 2018 |date=9 October 2007 |language=en |archive-url= |archive-date=}}</ref>

In the [[People's Republic of China]], the [[Maoist]] government undertook the [[Cultural Revolution]] from 1966 to 1976 to purge Chinese society of capitalist elements and achieve socialism. Upon [[Mao Zedong]]'s death, his rivals seized political power, and under the leadership of [[Deng Xiaoping]], many of Mao's Cultural Revolution era policies were revised or abandoned, and a large increase in privatised industry was encouraged.<ref>{{cite news |date=22 October 2011 |title=Deng Xiaoping's legacy: The Great Stabiliser |newspaper=[[The Economist]] |url=https://www.economist.com/books-and-arts/2011/10/22/the-great-stabiliser |url-status=live |access-date=14 September 2019 |archive-url=https://web.archive.org/web/20190506090043/https://www.economist.com/books-and-arts/2011/10/22/the-great-stabiliser |archive-date=6 May 2019}}</ref><ref>{{bulleted list|

[[Chinese Communist Party]] [[General Secretary of the Chinese Communist Party|General Secretary]] [[Xi Jinping]] has announced a deepening commitment of the [[Chinese Communist Party]] to the ideas of Marx. At an event celebrating the 200th anniversary of Marx's birth, Xi said, "We must win the advantages, win the initiative, and win the future. We must continuously improve the ability to use Marxism to analyse and solve practical problems", adding that Marxism is a "powerful ideological weapon for us to understand the world, grasp the law, seek the truth, and change the world." Xi has further stressed the importance of examining and continuing the tradition of the CPC and embracing its revolutionary past.<ref>{{cite news |url=https://www.reuters.com/article/us-germany-marx-china/no-regrets-xi-says-marxism-still-totally-correct-for-china-idUSKBN1I50ET |title=No regrets: Xi says Marxism still 'totally correct' for China |first=Christian |last=Shepherd |newspaper=[[Reuters]] |date=4 May 2018 |access-date=24 April 2022 |archive-date=20 April 2022 |archive-url=https://web.archive.org/web/20220420043317/https://www.reuters.com/article/us-germany-marx-china/no-regrets-xi-says-marxism-still-totally-correct-for-china-idUSKBN1I50ET |url-status=live}}</ref><ref>{{cite web |url=https://www.cnn.com/2018/05/17/asia/xi-jinping-marxism-china-intl/index.html |title=At the height of his power, China's Xi Jinping moves to embrace Marxism |first=Steven |last=Jiang |website=[[CNN]] |date=18 May 2018 |access-date=24 April 2022 |archive-date=7 April 2022 |archive-url=https://web.archive.org/web/20220407074735/https://www.cnn.com/2018/05/17/asia/xi-jinping-marxism-china-intl/index.html |url-status=live}}</ref><ref>{{cite web |url=https://qz.com/1270109/chinas-communist-party-and-xi-jinping-are-celebrating-the-200th-birthday-of-karl-marx-with-a-vengeance/ |title=China's huge celebrations of Karl Marx are not really about Marxism |website=Qz.com |date=4 May 2018 |access-date=24 April 2022 |archive-date=10 April 2022 |archive-url=https://web.archive.org/web/20220410194139/https://qz.com/1270109/chinas-communist-party-and-xi-jinping-are-celebrating-the-200th-birthday-of-karl-marx-with-a-vengeance/ |url-status=live}}</ref>

Philosopher and historian of ideas [[Leszek Kołakowski]] pointed out that "Marx's theory is incomplete or ambiguous in many places, and could be 'applied' in many contradictory ways without manifestly infringing its principles." Specifically, he considers "the laws of dialectics" as fundamentally erroneous, stating that some are "truisms with no specific Marxist content", others "philosophical dogmas that cannot be proved by scientific means", and some just "nonsense"; he believes that some Marxist laws can be interpreted differently, but that these interpretations still in general fall into one of the two categories of error.<ref>{{cite book sfn|title=Main Currents of Marxism |last=Kołakowski |first=Leszek |publisher=[[W. W. Norton and Company]] |year=2005 |isbn=978-0393329438 |location=New York |pagespp=662, 909}}</ref>

[[Anarchism]] has had a strained relationship with Marxism. Anarchists and many non-Marxist libertarian socialists reject the need for a [[Dictatorship of the proletariat|transitory state phase]], claiming that socialism can only be established through decentralised, non-coercive organisation.<ref>{{cite journal |first=Benjamin |last=Franks |date=2012 |title=Between Anarchism and Marxism: the beginnings and ends of the schism… |journal=[[Journal of Political Ideologies]] |volume=17 |number=2 |pages=207–227 |doi=10.1080/13569317.2012.676867}}</ref> Anarchist [[Mikhail Bakunin]] criticised Marx for his authoritarian bent.<ref name=Bakunin1872>{{citation |last=Bakunin |first=Mikhail |author-link=Mikhail Bakunin |title=Letter to ''La Liberté'', quoted in ''Bakunin on Anarchy'', translated and edited by Sam Dolgoff, 1971 |date=5 October 1872 |url=https://www.marxists.org/reference/archive/bakunin/works/1872/la-liberte.htm |websitevia=[[Marxists Internet Archive]] |access-date=24 April 2022 |archive-date=19 March 2022 |archive-url=https://web.archive.org/web/20220319081314/https://www.marxists.org/reference/archive/bakunin/works/1872/la-liberte.htm |url-status=live}}</ref> The phrases "barracks socialism" or "[[barracks communism]]" became shorthand for this critique, evoking the image of citizens' lives being as regimented as the lives of [[conscript]]s in [[barracks]].<ref name="Sperber_2013">{{cite book |last=Sperber |first=Jonathan |author-link=Jonathan Sperber |year=2013 |title=Karl Marx: A Nineteenth-Century Life |url=https://books.google.com/books?id=hBpSh9JYAKcC |publisher=[[W. W. Norton & Company]] |isbn=978-0871403544 |access-date=24 April 2022 |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026144010/https://books.google.com/books?id=hBpSh9JYAKcC |url-status=live |via=[[Google Books]]}}</ref>

Marxism and socialism have received considerable critical analysis from multiple generations of [[Austrian School|Austrian economists]] regarding scientific methodology, economic theory and political implications.<ref>{{cite web |url=https://mises.org/library/what-we-can-know-about-world |title=What We Can Know About the World |date=1 December 2009 |website=Mises.org |access-date=4 August 2019 |publisher=[[Ludwig von Mises Institute]] |archive-date=13 February 2020 |archive-url=https://web.archive.org/web/20200213094330/https://mises.org/library/what-we-can-know-about-world |url-status=live}}</ref><ref>{{cite book |last1=von Mises |first1=Ludwig |author1-link=Ludwig von Mises |title=Omnipotent Government |date=2008 |publisher=Read Books |isbn=978-1443726467 |url=https://mises.org/library/omnipotent-government-rise-total-state-and-total-war |access-date=24 April 2022 |archive-date=12 April 2022 |archive-url=https://web.archive.org/web/20220412085854/https://mises.org/library/omnipotent-government-rise-total-state-and-total-war |url-status=live}}{{page needed|date=July 2020}}</ref> During the [[Marginal utility#Marginal Revolution|marginal revolution]], a theory of subjective value was developed by [[Carl Menger]],<ref>{{citation |last1=Nenovsky |first1=Nikolay |last2=Karpouzanov |first2=Momtchil |date=2010 |title=Value, Prices and Money. Comparing Marx and Menger |url=https://mpra.ub.uni-muenchen.de/62040/2/MPRA_paper_62040.pdf |archive-url= |archive-date=}}</ref> with scholars viewing the development of marginalism more broadly as a response to Marxist economics.<ref>{{cite book |last1=Screpanti |first1=Ernesto |author1-link=Ernesto Screpanti |title=An Outline of the History of Economic Theory |last2=Zamagni |first2=Stefano |author2-link=Stefano Zamagni |publisher=[[Oxford University Press]] |year=2005 |pages=170–173}}</ref> Second-generation Austrian economist [[Eugen Böhm von Bawerk]] used praxeological and subjectivist methodology to fundamentally attack the law of value. [[Gottfried Haberler]] has regarded his criticism as "definitive", arguing that Böhm-Bawerk's critique of Marx's economics was so "thorough and devastating" that he believes that as of the 1960s, no Marxian scholar had conclusively refuted it.<ref>{{cite book |last1=Haberler |first1=Gottfried |author1-link=Gottfried Haberler |editor1-last=Drachkovitch |editor1-first=Milorad M. |editor1-link=Milorad M. Drachkovitch |title=Marxist Ideology in the Contemporary World: Its Appeals and Paradoxes |date=1966 |publisher=Books for Libraries Press |isbn=978-0836981544 |url=https://archive.org/details/marxistideologyi00drac/page/124/mode/1up |page=124}}</ref> Third-generation Austrian [[Ludwig von Mises]] rekindled the debate about the [[economic calculation problem]] by arguing that without price signals in capital goods, in his opinion, all other aspects of the market economy are irrational. This led him to declare that "rational economic activity is impossible in a socialist [[commonwealth]]."<ref name="Mises">{{cite book |title=Economic Calculation in the Socialist Commonwealth |year=2014 |publisher=[[Ludwig von Mises Institute]] |isbn=978-1610164542 |url=https://mises.org/pdf/econcalc.pdf |access-date=24 April 2022 |archive-date=23 September 2008 |archive-url=https://web.archive.org/web/20080923191714/https://mises.org/pdf/econcalc.pdf |url-status=live}}{{page needed|date=July 2020}}</ref>