Marx's approach to economics: a claim for subjective praxis
New School for Social Research, Department of Economics, 2019
Exploring Economics Working Paper Selection
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Philosophy of Praxis as Critique to Pure Economics: A Study in Methodology and Class Struggle
Abstract: The framework of the Philosophy of Praxis sheds light on a fundamental Marxian insight: the approach to knowledge is deeply political. This paper studies the Philosophy of Praxis as offering a potent two-fold device. First, understood as a framework of critical analysis, the philosophy of praxis allows us to capture the strength of “pure economics” (especially in its proposed methodology) to bolster bourgeois hegemony in a critical moment for the history of capitalism, the crisis of authority of the Liberal institutions after WWI. Secondly, As the “science of dialectics” or “philosophy of knowledge” (SPN 431), the philosophy of praxis offers a tangible proposal for a radically emancipatory approach to knowledge. Such a project is certainly applicable to economics today. The paper develops a multifaceted comparison between “pure economics” and “critical economics”. While the former is the approach that characterized Marginalist thinkers and is still dominant today, the latter is inspired by the philosophy of praxis as a positive alternative.
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