Zombifying Marx

In a 2011 article in Jacobin magazine, the Australian political economist Mike Beggs accuses the defenders of ‘orthodox’ Marxist economic theory of creating a ‘zombie Marx’. What matters, Beggs seems to suggest, is not really whether this or that economic theory is correct in its foundations, about which the neoclassical economists of today’s orthodoxy are just as dogmatic as the Marxists are about theirs. Rather, the significance of economic ideas rests in the practice. This practice consists of what he, citing David Harvey, calls “casual empiricism”: “for example, in analyzing the relationship between the US federal government’s deficit and long term interest rates.” The search for foundationalism, being able to found any given economic finding along such empirical or econometric lines on a well-defined and general theory, is the province of a rigid minority of neoclassical economists, and has little to do with the everyday practice of economics. Or so Beggs would have us believe.

He then goes on to conclude from this that it is the Marxists who have a problem, not the neoclassical economists. Unlike their mainstream neoclassical counterparts, Beggs suggests, the Marxist economists have a tendency to prefer ‘going back to the text’ to advancing economic knowledge, and this process has to do with the political commitments of Marxism outside the mainstream. Essentially, Beggs argues that Marxism as a rival school of thought in economics fails, and must fail, precisely because it is not mainstream and does not reconstruct itself along the lines of the methods of the mainstream: “The pursuit of a separate system of economics as something wholly other from mainstream economics isolates us from the political and ideological space where these things take place: better, instead, to fight from the inside, to make clear the social and political content of the categories.” Continue reading “Zombifying Marx”