Ideology, political economy and the crisis of the capitalist state

Abstract

Keynesianism, Monetarism, and the Crisis of the State is perhaps Simon’s greatest intellectual and political contribution. This article sets the book in the context of his teaching at Warwick and the development of his thought through Marx, Marginalism and Modern Sociology to the publication of Keynesianism. Building on his analysis of the ideological dimensions of classical political economy, Simon set himself the ambitious task of grasping the coherence and complexity of the relationship between economics, politics and ideology in the crisis-ridden development of capitalism. In so doing, he developed a work of immense significance fusing conceptual and empirical analysis to produce a devastating critique of social democracy, neoliberalism and reformism. Although read widely within Conference of Socialist Economists circles, Keynesianism has not achieved the recognition it clearly deserves. Post-Keynesianism, Simon extended his analysis to worker organisation in Russia and beyond. His theoretical and empirical work on capitalism in all its forms offers a unique and enduring contribution to everyone interested in socialism and the limits of reform.