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Marxism and institutionalism: a comparative study (the report of the International political economy association of the CIS and Baltic States)

Marxism and institutionalism: a comparative study (the report of the International political economy association of the CIS and Baltic States)

Journal of Institutional studies, , Vol. 4 (no. 1),
p. 43-48

Authors concentrate their attention on the comparative analysis of the modern Marxist political economy and institutional economic theory. Article articulate methodological and theoretical common features and differences between these schools
Among the most important features common for Marxism and ‘classic’ institutionalism, stressed by the author, are not only typically mentioned (methodological holism and so on), but also:
  • critical approach towards ‘market-centric’ model of economic theory;
  • distinction of different economic systems and existence of the complex, qualitatively different forms of economic life in modern reality (not only market, but also another types of coordination, including planning, solidarity, net-work cooperation and so on; different property relations; different types of economic values and motivations and so on)...
Authors show potential of both schools in the research of the different social and economic problems, where and why different approaches of this two schools can be used as the most efficient ‘instruments’for the research of economic life. Authors also take into the account specific features of neo-institutional and ‘classic’ institutional theory.


Keywords: economic theory andits methodology; political economy; Marxism; institutionalism; comparative analysis; production relations; institutions; ‘market-centric ’ model of economic theory and its critique

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Publisher: Ltd. "Humanitarian perspectives"
Founder: Ltd. "Humanitarian perspectives"
ISSN: 2076-6297