Abstract
A Marxian Theory of Neoliberalism One can locate in Marx's work important theoretical foundations for the analysis of neoliberalism : theories of the state (its relation to class patterns), of the transformation of the institutions in which the ownership of the means of production is expressed (the separation between ownership and management, loan capital), and banking capital (as administrator of loan capital). These theoretical frameworks are helpful in the analysis of the role of the state in neoliberalism, and the power of finance. To this, one must add the analysis of financial capital by Hilferding and Lenin. The recurrent postponement of the final superseding of capitalism constrained Marxist theoreticians to define long-term periodizations, such as the theory of monopoly capitalism or long waves. But the legacy of founding fathers is not very helpful with respect to the interpretation of the succession of the postwar Keynesian compromise and neoliberalism.
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