Marxian Economics - Neo-Marxian Economics

Neo-Marxian Economics

The terms Neo-Marxian, Post-Marxian, and Radical Political Economics were first used to refer to a distinct tradition of economic thought in the 70s and 80s.

In industrial economics, the Neo-Marxian approach stressess the monopolistic rather than the competitive nature of capitalism. This approach is associated with Kalecki, and Baran and Sweezy.

Theorists such as Samuel Bowles, David Gordon, John Roemer, Jon Elster, and Adam Przeworski have adopted the techniques of neoclassical economics, including game theory and mathematical modeling, to demonstrate Marxian concepts such as exploitation and class conflict.