A Marxist Analysis of the Evolution of 20th Century American Capitalism

Abstract

It is clear to me, through my research and experience, that a Marxist insight into the phenomenon of capitalism provides invaluable tools for its analysis. In particular the inherent power structures contained in capitalism are articulated clearly through Marx' s analysis. This is something that I have found to be notably lacking in my previous economic course work. By taking Marxian analysis to heart I believe that one can develop a more humanistic attitude towards the development of productive forces. Unfortunately Marxist theory has been severely stigmatized (sometimes unjustly) by American society in response to the Communist regimes of the Former Soviet Union, China and Cuba (as well as Vietnam and Korea). Recent years have seen the memories of the cold war fade and China and Cuba succumb more to capitalist tendencies. I believe that it these developments will make it easier for people to accept Marxist theory as a viable approach to an analysis of capitalism.