Thoroughly Modern MarxThoroughly Modern Marx

Leo PanitchLeo PanitchForeign PolicyForeign PolicyMay/June 2009May/June 2009

1. Marxism and Political econom1. Marxism and Political economyy(1)(1) Major principle of Marxism—tMajor principle of Marxism—the dialectihe dialecti

cal and materialist concept of history.cal and materialist concept of history.(2)(2) Major thoeries of political economy:Major thoeries of political economy: The theory of surplus value.The theory of surplus value. The relation between productivity and supersThe relation between productivity and supers

tructure (social relationship).tructure (social relationship). The nature of capitalism—imperialist expansThe nature of capitalism—imperialist expans

ion for market, vicious competition resulting ion for market, vicious competition resulting in economic crises.in economic crises.

2. Macroeconomic indicators(1)(1) GDP: the total domestic output of a country or regioGDP: the total domestic output of a country or regio

n.n.(2)(2) Capital investment: total amount of investment of a Capital investment: total amount of investment of a

country or region.country or region.(3)(3) Trade volume: total amount of domestic selling and Trade volume: total amount of domestic selling and

buying of a country or region.buying of a country or region.(4)(4) CPI: Consumer price indice, indication of inflation.CPI: Consumer price indice, indication of inflation.(5)(5) PPI: Producers price index, indication of inflation.PPI: Producers price index, indication of inflation.(6)(6) Unemployment rate: index of economic situation.Unemployment rate: index of economic situation.(7)(7) Aggregated demand: index of market demand.Aggregated demand: index of market demand.(8)(8) International trade: total amount of import and expInternational trade: total amount of import and exp

ort of a country or region.ort of a country or region.

3. Main ideas3. Main ideas(1)(1) Introduction: Marx was far ahead of his time in preIntroduction: Marx was far ahead of his time in pre

dicting the fateful factors of globalization. dicting the fateful factors of globalization.

(2)(2) Marx’s predictions.Marx’s predictions.

(3)(3) The financial sector.The financial sector.

(4)(4) Social isolation and passivity of the public.Social isolation and passivity of the public.

(5)(5) Proposals to deal with the financial crisis.Proposals to deal with the financial crisis.

(6)(6) Democratization of economy.Democratization of economy.

(7)(7) Conclusion: the progress is uncertain.Conclusion: the progress is uncertain.

4. Structure: A critical essay4. Structure: A critical essay(1)(1) Introduction (Para. 1-2)—Marx’s predictions—aheaIntroduction (Para. 1-2)—Marx’s predictions—ahea

d of his time. d of his time. (2)(2) Background (Para. 3-5): Marx’s theories.Background (Para. 3-5): Marx’s theories.(3)(3) Analysis (Para. 6-7): Analysis of the financial sectoAnalysis (Para. 6-7): Analysis of the financial secto

r.r.(4)(4) Analysis (Para. 8-9): Analysis of social relations.Analysis (Para. 8-9): Analysis of social relations.(5)(5) Analysis (Para. 10-13): Analysis of the proposals mAnalysis (Para. 10-13): Analysis of the proposals m

ade.ade.(6)(6) Analysis (Para. 14-15): Analysis of the democratizaAnalysis (Para. 14-15): Analysis of the democratiza

tion of economy.tion of economy.(7)(7) Conclusion—Conclusion—the progress is uncertain.the progress is uncertain.

5. Questions 5. Questions on Computers Vs. on Computers Vs. Brains Brains (1)(1) What are the major differences between cWhat are the major differences between c

omputers and brains?omputers and brains?(2)(2) What are the advantages and disadvantagWhat are the advantages and disadvantag

es of the brains?es of the brains?(3)(3) What happens if we build a computer that What happens if we build a computer that

is comparable to a brain?is comparable to a brain?