Notes on the Main Analytical Insufficiencies of the Marxist Theoretical Tradition for the Comprehension of the Contemporary Global Economy

Abstract

Abstract. This article aims to analyze how the Marxist and neomarxist approaches demonstrate a relative difficulty in understanding and interpreting the dynamics of the modern world economy (globalization). We attempt in particular to explore the interpretive capabilities and shortcomings in the approach of globalization that stem from Marx’s thought and his followers. We present, in particular, the theoretical contribution of Marx in the study of the internationalized capitalism of his era, the interpretation by Lenin based on the concept of imperialism, the subsequent developments and adjustments in the Marxist analysis of the internationalized developmental phenomenon, as well as some contemporary interpretations that link Marxism and neomarxism with globalization. Keywords. Marxism, Neomarxism, Marxist adjustments, Marxism and Globalization, Criticism on Marxism. JEL. B14, B24, B51.