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A COMPARATIVE STUDY OF MARXIST POLITICAL ECONOMICS & WESTERN POLITICAL ECONOMICS

Li Xiang

Abstract

Although Marxist Political economics and western political economics both originated from classical economics, the conclusions they came to are entirely different: one is that capitalism is bound to perish and the other is that capitalism will last forever. Through a comparative analysis of their origins, their starting points of study and their ultimate conclusions, I have found that to develop Marxist political economics one must learn the scientific elements from western political economics, that the carrying on of the development of political economics has always borne class nature, and that we must try to increase the practicality of Marxist political economics and strengthen its function of serving socialist economical construction.

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Key concepts: Marxist philosophy, Capitalism, Politics, Schools of economic thought, Human development theory, Heterodox economics, Neoclassical economics, International political economy