Critique of political economy

Critique of political economy or critique of economy is a critique that questions the very object of the economy, and hence reject the axioms, institutions and social categories, abstractions as well as the entire paradigm of what is usually referred to as "the economy".[1][2][3][4][5]

The critics of economy tend to agree that practices, assumptions, and concepts that are commonplace within the field of economics are unscientific.[6][2][7][8] As well as claim that these phenomena are rather caused by societal and or normative practices than any self-evident laws.[4][9] Therefore, critics of political economy commonly view what is most commonly referred to as "the economy" as being bundles of metaphysical concepts and societal practices.[10][5] Critics of political economy do not view "the economy", or related categories, as transhistorical,[11][12][13] but rather as relatively new in history, emerging along with capitalist modernity.[14][7] Critics of political economy aim to critique the economy itself, and hence don't aim to create theories regarding how to administer economies, as done in conventional economics.[4][15][16]

There are multiple critiques of political economy today, but what they have in common is critique of the dogma which claims "the economy" as a necessary societal category.[17][4] Regarding contemporary Marxian criticisms, these are also generally accompanied by a rejection of more naturalistically influenced readings of Marx critique of political economy, as well as other readings later deemed "weltanschaaungsmarxismus" ("worldview marxism"),[18][19][20] that was popularized as late as toward the end of the 20th century.[18][15]

Contemporary critiques of political economy and contemporary German Ökonomiekritik have been at least partly neglected in the anglophone world.[21]


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