Abstract
This article supports a holistic interpretation of Marxian thought to argue the existence of socio-historical, objectives and tendential laws of motion governing the reproduction of the system. In particular, it highlights the place of the law of the tendency of the rate of profit to fall in the analysis of the reproduction of capitalism, and therefore the theory of crisis, as crises arise from the inner logic of capital. While holistic and emphasizing the objective aspects, this approach is not deterministic, nor does it fall into the indeterminacy of the overdetermination approach.
Highlights
Marxism can be interpreted in different ways
Holistic approach, from which can be grasped the existence of rules, patterns or basic tendencies related to the whole, operating outside the will of individuals; on the other, the social character of the socioeconomic structure, which opens up the possibility to radically change the economic system by conscious people
This article seeks to contribute to support the idea of a Marxian theory of crisis based on the LTRPF, which historically underlies the recurrence of crises under capitalism, such as the Great Recession
Summary
Marxism can be interpreted in different ways. as a holistic thought, the idea of objective processes and the existence of laws of motion are outlined. This article has two inter-related objectives: first, to support a holistic interpretation of Marxism, which gives priority to the concept of totality; second, and as a corollary, to argue for the existence of laws of motion governing the reproduction of the system. The development of this analysis requires making reference to some controversies around two key elements: determinism and overdetermination.. The development of this analysis requires making reference to some controversies around two key elements: determinism and overdetermination.2 This line of interpretation is relevant in light of the role that theoretical foundations play in grasping the turbulent dynamics of the system, and in particular the concept of economic crises. The last section addresses the main controversies on this subject, concerning determinism and overdetermination
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