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T h e Ox f o r d H a n d b o o k o f

KA R L M A R X
The Oxford Handbook of

KARL MARX
Edited by
MATT VIDAL
TONY SMITH
TOMÁS ROTTA
and
PAUL PREW

1
 3
Oxford University Press is a department of the University of Oxford. It furthers
the University’s objective of excellence in research, scholarship, and education
by publishing worldwide. Oxford is a registered trade mark of Oxford University
Press in the UK and certain other countries.

Published in the United States of America by Oxford University Press

198 Madison Avenue, New York, NY 10016, United States of America.

© Oxford University Press 2019

All rights reserved. No part of this publication may be reproduced, stored in

a retrieval system, or transmitted, in any form or by any means, without the
prior permission in writing of Oxford University Press, or as expressly permitted
by law, by license, or under terms agreed with the appropriate reproduction
rights organization. Inquiries concerning reproduction outside the scope of the
above should be sent to the Rights Department, Oxford University Press, at the
address above.

You must not circulate this work in any other form

and you must impose this same condition on any acquirer.

Library of Congress Cataloging-​in-​Publication Data

Names: Vidal, Matt, editor.
Title: The Oxford handbook of Karl Marx /​edited by Matt Vidal [and three others].
Description: New York, NY : Oxford University Press, [2019] |
Includes bibliographical references and index.
Identifiers: LCCN 2018046636 | ISBN 9780190695545 (hardcover)
Subjects: LCSH: Marx, Karl, 1818–1883. | Socialism. | Marxian economics.
Classification: LCC HX39.5 .O97 2019 | DDC 335.4—​dc23
LC record available at https://​lccn.loc.gov/​2018046636

1 3 5 7 9 8 6 4 2
Printed by Sheridan Books, Inc., United States of America
 Contents

About the Editors ix

Contributors xi

I N T RODU C T ION
1. The Enduring Relevance of Karl Marx 3
Paul Prew, Tomás Rotta, Tony Smith, and Matt Vidal

PA RT I F O U N DAT ION S
2. Historical Materialism 37
Paul Blackledge
3. Class and Class Struggle 57
Henry Heller
4. Forces of Production and Relations of Production 77
David Laibman
5. The Eight Steps in Marx’s Dialectical Method 97
Bertell Ollman
6. Ideology as Alienated Socialization 111
Jan Rehmann
7. Marx’s Conceptualization of Value in Capital 129
Geert Reuten
8. Value and Class 151
Alan Freeman
9. Money 173
Leda Maria Paulani
vi   Contents

10. Capital 191

Andrew Kliman
11. Capital: A Revolutionary Social Form 211
Patrick Murray
12. The Grammar of Capital: Wealth In-​Against-​and-​Beyond Value 231
John Holloway
13. Work and Exploitation in Capitalism: The Labor Process and the
Valorization Process 241
Matt Vidal
14. Capital in General and Competition: The Production and
Distribution of Surplus ​Value 261
Fred Moseley
15. Reproduction and Crisis in Capitalist Economies 279
Deepankar Basu
16. The Capitalist State and State Power 299
Bob Jessop
17. Capitalist Social Reproduction: The Contradiction between
Production and Social Reproduction under Capitalism 321
Martha E. Gimenez
18. Marx, Technology, and the Pathological Future of Capitalism 341
Tony Smith
19. Alienation, or Why Capitalism Is Bad for Us 361
Dan Swain
20. The Commodification of Knowledge and Information 379
Tomás Rotta and Rodrigo Teixeira

PA RT I I L A B OR , C L A S S , A N D
S O C IA L DI V I SION S
21. Labor Unions and Movements 403
Barry Eidlin
22. Migration and the Mobility of Labor 425
Nicholas De Genova
 Contents   vii

23. Race, Class, and Revolution in the Twenty-​First Century: Lessons

from the League of Revolutionary Black Workers 441
Walda Katz-​Fishman and Jerome Scott
24. Nationalism, Class, and Revolution 463
Kevin B. Anderson
25. Hegemony: A Theory of National-​Popular Class Politics 475
Mark McNally

PA RT I I I C A P I TA L I ST STAT E S A N D SPAC E S
26. Capitalist Crises and the State 499
Leo Panitch and Sam Gindin
27. European “Integration” 519
Magnus Ryner
28. The Urbanization of Capital and the Production of Capitalist Natures 539
Erik Swyngedouw

PA RT I V AC C UM U L AT ION , C R I SI S , A N D C L A S S
ST RU G G L E I N T H E C OR E C OU N T R I E S
29. Stages of Capitalism and Social Structures of Accumulation:
A Long View 559
Terrence McDonough
30. Geriatric Capitalism: Stagnation and Crisis in
Western Capitalism 581
Matt Vidal
31. Sociopoiesis: Understanding Crisis in the Capitalist World-​System
through Complexity Sciences 607
Paul Prew
32. Towards a Marxist Theory of Financialized Capitalism 629
Jeff Powell
33. Metabolic Rifts and the Ecological Crisis 651
Brett Clark, John Bellamy Foster, and Stefano B. Longo
viii   Contents

PA RT V AC C UM U L AT ION , C R I SI S , A N D
C L A S S ST RU G G L E I N T H E P E R I P H E R A L
A N D SE M I -​P E R I P H E R A L C OU N T R I E S
34. Global Capital Accumulation and the Specificity of Latin America 661
Guido Starosta
35. The Unresolved Agrarian Question in South Asia 679
Debarshi Das
36. Asia and the Shift in Marx’s Conception of Revolution and History 699
Lin Chun
37. Analyzing the Middle East 721
Gilbert Achcar
38. Primitive Accumulation in Post-​Soviet Russia 739
David Mandel

PA RT V I A LT E R NAT I V E S TO C A P I TA L I SM
39. Marx’s Concept of Socialism 757
Peter Hudis
40. Democratic Socialist Planning 773
Pat Devine
41. The Continuing Relevance of the Marxist Tradition for
Transcending Capitalism 793
Erik Olin Wright

Index 809
 About the Editors

Matt Vidal is Reader in Sociology and Political Economy, Loughborough University

London, Institute of International Management. His work has been published in
Contexts, Critical Sociology, Organization Studies, Socio-​Economic Review, Socius, Work,
Employment & Society, and others. He is author (with David Kusnet) of Organizing
Prosperity (EPI) and editor (with Marco Hauptmeier) of Comparative Political Economy
of Work (Palgrave). Matt is working on a book, under contract with Oxford University
Press: Management Divided: Contradictions of labor management in American cap-
italism. He is editor-​in-​chief of “Work in Progress,” a public sociology blog of the
American Sociological Association on the economy, work and inequality.

Tony Smith is the author of six books and over eighty articles on Marx, the critical
theory of technology, and issues in normative social theory. His works include The Logic
of Marx’s Capital: Replies to Hegelian Criticisms; Globalisation: A Systematic Marxian
Account; and Beyond Liberal Egalitarianism: Marxism and Normative Social Theory in
the Twenty-​First Century.

Tomás Rotta is Senior Lecturer in Economics in the International Business &

Economics Department at the University of Greenwich in London, UK, and a member
of the Greenwich Political Economy Research Center (GPERC). He holds a PhD
in Economics from the University of Massachusetts at Amherst, USA, and an MS in
Economic Development and a BS in Business Management from the University of São
Paulo, Brazil. He specializes in Political Economy.

Paul Prew specializes in Marxist theory and environmental sociology. He has chapters
summarizing the work of Karl Marx published by Reaktion Books and forthcoming
from Routledge Press. Prior publications include the topics of critical pedagogy,
perceptions of police misconduct, and the effect of the world-​economy on carbon-​
dioxide emissions. At Minnesota State University, Mankato, he teaches courses in
graduate and undergraduate theory, indigeneity and environment, globalization, and
introduction to sociology. Dr. Prew is also the treasurer for the Marxist section of the
American Sociological Association as well as the local non-​profit, Mankato Area Fair
Trade Town Initiative. At his university, he has received the Global Citizen, Diversity
Champion, and the Kessel Peacemaker Awards.
 Contributors

Gilbert Achcar, SOAS University of London

Kevin B. Anderson, University of California, Santa Barbara
Deepankar Basu, University of Massachusetts Amherst
Paul Blackledge, London South Bank University
Lin Chun, London School of Economics
Brett Clark, University of Utah
Debarshi Das, Indian Institute of Technology, Guwahati
Nicholas De Genova, University of Houston
Pat Devine, University of Manchester
Barry Eidlin, McGill University
John Bellamy Foster, University of Oregon
Alan Freeman, Geopolitical Economy Research Group
Martha E. Gimenez, University of Colorado Boulder
Sam Gindin, York University
Henry Heller, University of Manitoba
John Holloway, Autonomous University of Puebla
Peter Hudis, Oakton Community College
Bob Jessop, Lancaster University
Walda Katz-​Fishman, Howard University
Andrew Kliman, Pace University
David Laibman, Brooklyn College
Stefano B. Longo, North Carolina State University
David Mandel, Université du Québec à Montréal
xii   Contributors

Terrence McDonough, National University of Ireland, Galway

Mark McNally, University of the West of Scotland
Fred Moseley, Mount Holyoke College
Patrick Murray, Creighton University
Bertell Ollman, New York University
Leo Panitch, York University
Leda Maria Paulani, University of São Paulo
Jeff Powell, University of Greenwich
Paul Prew, Minnesota State University –​Mankato
Jan Rehmann, Union Theological Seminary
Geert Reuten, University of Amsterdam
Tomás Rotta, University of Greenwich
Magnus Ryner, King’s College London
Jerome Scott, Project South: Institute for the Elimination of Poverty & Genocide
Tony Smith, Iowa State University
Guido Starosta, Universidad Nacional de Quilmes
Dan Swain, Czech University of Life Sciences Prague
Erik Swyngedouw, University of Manchester
Rodrigo Teixeira, Pontifical Catholic University of São Paulo
Matt Vidal, Loughborough University London
Erik Olin Wright, University of Wisconsin-​Madison
I N T RODU C T ION
 Chapter 1

The Enduring Re l eva nc e

of Karl Ma r x

Paul Prew, Tomás Rotta, Tony Smith,

and Matt Vidal

1. The Continuing Relevance

of Marx and Marxism

Karl Marx is one of the most influential writers in history. Despite repeated obituaries
proclaiming the death of Marxism, this Handbook will demonstrate that in the twenty-​
first century Marx’s ideas and theories remain as relevant as ever. Since his death in 1883,
Marx’s lasting global impact has been greater and wider than of any other figure in the
humanities or social sciences. His theoretical contributions have had profound impacts
on politics, sociology, economics, political economy, history, philosophy, geography, an-
thropology, law, ecology, literary studies, media studies, and even management studies
(see Vidal’s chapter on labor process theory in this volume). In the realms of social
theory and in politics, Marx’s ideas have spread to virtually every corner of the planet.
Despite the many attempts to bury Marx and Marxism, the strength of his ideas is un-
deniable. His profound critique of capitalism and of the different modes of production
in human history remain, to this day, unparalleled (on modes of production and Marx’s
materialist theory of history, see the chapters by Blackledge, Heller, and Laibman).
Marxism is capitalism’s most radical self-​criticism. It critically analyzes the deep roots
of our social system. It unveils the structures and the internal logic that organize our
economies, cultures, and politics. Once these deeper structures are brought to the fore,
Marxism then offers a path to overcome our challenges—​both via critique of existing
social structures and analysis of ideology and human agency, including a theory of the
working class as the necessary agent for transcending capitalism (on Marx’s “dialectical”
method, see the chapter by Ollman; on transcending capitalism, see the chapters by
Hudis, Devine, and Wright).
4    Paul Prew, Tomás Rotta, Tony Smith, and Matt Vidal

Marxism is as relevant today as when Marx himself was alive. Reasons for that
abound: appalling levels of wealth inequality and exploitation, workplace alienation,
and social alienation; the instability of finance, financialization, globalization, and the
political turmoil that threatens our fragile parliamentary democracies; gender and ra-
cial oppression; climate change and the looming environmental collapse; imperialism;
fiscal austerity; immigration crises, unemployment, and job insecurity.
Each major crisis of capitalism rightfully reignites interest in Marx’s teachings.
Global crises including periods of negative growth and extended recession alongside
the large-​scale devaluation of capital have occurred in 1857, 1873, 1929, 1973, and 2008.
While mainstream economic theory continues to theorize markets as self-​regulating
and tending toward market-​clearing equilibrium, Marx developed the most system-
atic theory of capitalism as a crisis-​prone system, with tendencies toward disequilib-
rium, overproduction, overaccumulation, and a declining rate of profit (see chapters by
Kliman, Murray, Basu, Panitch and Gindin, Vidal, Prew, and Smith).
The 2008 global economic crisis reveals how Marxism offers a convincing explana-
tion of the internal logic of our system. Indeed, it is remarkable that Marx is now fea-
tured even in mainstream newspapers and magazines as a theorist of capitalism that
should not be ignored. Thus, in the New York Times:

[The] educated liberal opinion is today more or less unanimous in its agreement that
Marx’s basic thesis —​that capitalism is driven by a deeply divisive class struggle in
which the ruling-​class minority appropriates the surplus labor of the working-​class
majority as profit —​is correct. . . . Marx’s conviction that capitalism has an inbuilt
tendency to destroy itself remains as prescient as ever.
(Barker 2018)

In Time magazine:
With the global economy in a protracted crisis, and workers around the world
burdened by joblessness, debt and stagnant incomes, Marx’s biting critique of cap-
italism —​that the system is inherently unjust and self-​destructive —​cannot be
so easily dismissed. . . . A growing dossier of evidence suggests that he may have
been right. . . . That leaves open a scary possibility: that Marx not only diagnosed
capitalism’s flaws but also the outcome of those flaws. If policymakers don’t discover
new methods of ensuring fair economic opportunity, the workers of the world may
just unite. Marx may yet have his revenge.
(Schuman 2013)

In The Guardian:
For Marx and Engels’ . . . manifesto was a call to action . . . Today, a similar dilemma
faces young people: conform to an established order that is crumbling and inca-
pable of reproducing itself, or oppose it, at considerable personal cost, in search of
new ways of working, playing and living together? Even though communist parties
have disappeared almost entirely from the political scene, the spirit of communism
driving the manifesto is proving hard to silence. . . . the problem with capitalism is
 The Enduring Relevance of Karl Marx    5

not that it produces too much technology, or that it is unfair. Capitalism’s problem is
that it is irrational.
(Varoufakis 2018)

Sales of Das Kapital, Marx’s masterpiece of political economy, have soared ever since
2008, as have those of The Communist Manifesto and the Grundrisse.
(Jeffries 2012)

In The Atlantic:
Marx was a keen admirer of that other great Victorian Charles Darwin, and ac-
cording to Engels he wanted to do for the economic system what the author of
The Origin of Species had done for the natural order: lay bare its objective laws of
motion and thus make it possible at last to dispense with subjective and idealist
interpretations.
(Hitchens 2009)

Even in the Financial Times:

From the efforts of this lonely scholar, known then only to a narrow circle, would
emerge an intellectual tradition that would find its place alongside that of Darwin as
one of the great legacies of the Victorian age. It would inspire a political movement
that spanned the world.
(Tooze 2018)

Critics of Marx declared that Marxism was dead with the implosion of the Soviet Union
in 1991 and the further conversion of India and China to globalized capitalism. The irony
is, of course, that the capitalist world Marx described—​the world market in which every
aspect of social life becomes commodified—​became even truer exactly when the Soviet
Union collapsed and China joined the global economy.
As far back as in the 1840s, Marx’s prescient prediction of the globalized, financi­
alized, and inequality-​ridden economy we have in the twenty-​first century was the
result of his theory of the inner logics of capitalist development, including its imma-
nent contradictions, antagonisms, and crisis tendencies. The social structures and
contradictions that he conceptualized are now unfolding on an unprecedented global
scale. The commodity form and the profit motive spare nothing and no one (see Rotta
and Teixeira’s chapter in this volume for an analysis of the commodification of know-
ledge and information). The capitalist class appropriates an increasingly unequal share of
global wealth. And capitalism’s drive for infinite growth and accumulation has generated
climate change and impending environmental disaster. As capitalism’s most profound
thinker and radical critic, Marx will be relevant as long as society remains capitalist.
The popular interest in Marx is mirrored by increased academic interest, although
the latter predates the 2008 global financial crisis. Data from Google Scholar show
that over the last two decades, citations to Marx have undergone a continuous and
remarkable. From 1977, the first year of available data, through 1995, annual citations
6    Paul Prew, Tomás Rotta, Tony Smith, and Matt Vidal

to Marx hovered between 1,551 and 2,208.1 From there, citations increased to 7,993 in
2005 and to a staggering 20,136 in 2015. The only decline in citations to Marx during
the last twenty years was in 2016 and 2017—​slight drops from the towering 2015 peak.
The exceptional growth in citations to Marx provides strong evidence of his con-
tinuing relevance and appeal within the academy. In our view, the lull in Marxist
research during the 1970s and 1980s was likely driven by a combination of political
and intellectual developments. Politically, the radical movements of 1968 were de-
feated, the working class was fragmented and demoralized by the open class war
unleashed by capital in the face of declining profits and stagnation in the 1970s,
and the increasingly evident failure of the Soviet and Maoist models of socialism to
provide an acceptable alternative. Intellectually, grand theory—​of which Marxism
is the preeminent model—​suffered a one-​two punch of Merton’s (1968) influential
call for mid-​range theory and the postmodern critique of grand narratives (Lyotard
[1979] 1984).
In any case, even before the recent surge of interest in Marx, there has been a
bewildering array of Marxist schools and publications, varying widely in terms of dis-
ciplinary focus and approach. Further, Marx developed a technical terminology that
Marxists have found very useful (e.g., use-​value, exchange-​value, organic composition
of capital, etc.) and a method of analysis (dialectical materialism), both of which can be
difficult for the uninitiated to understand. For those wishing to better understand Marx’s
work, the historical debates and traditions within Marxism, and the range of ways in
which Marxist theory is being used for social science today, finding a point of entry can
be daunting.
This Handbook provides a comprehensive, if not exhaustive, resource for both those
new to Marx and for experts, presenting the state of the art in Marxist theory and re-
search but with an emphasis on accessibility. In line with the inherently interdisciplinary
nature of Marx’s own intellectual project, this Handbook provides roughly equal space to
sociologists, economists, and political scientists, with contributions from philosophers
and historians.
The Handbook has six major sections: Foundations; Labor, Class, and Social
Divisions; Capitalist States and Spaces; Accumulation, Crisis and Class struggle in
the Core Countries; Accumulation, Crisis and Class Struggle in the Peripheral and
Semi-​Peripheral Countries; and Alternatives to Capitalism. But before we provide an
overview of these sections and the individual chapters, we provide a brief intellectual
biography of Marx.

1
These data were checked on 29 June 2018. They are continuously revised as new references are
found, etc.
 The Enduring Relevance of Karl Marx    7

2. The Intellectual Biography

of Karl Marx

Here we situate Marx’s major scholarly works in the context of his life, paying special
attention to his method.2 During his life, Marx suffered poverty, illness personally and
in his beloved family, quarrels with his contemporaries, and sporadic paid employment,
mainly from newspaper articles. Despite the hardships, Marx maintained active polit-
ical engagement and a relentless commitment to research. The style of Marx’s research is
nearly as crucial as his conclusions. His “Method of Political Economy” establishes the
foundation for sound Marxist scholarship, and Marx’s approach to research contributed
to the longevity and relevance of his work.
Marx was born in Trier on May 5, 1818, during turbulent times. Police surveillance
and repression were commonplace (e.g., police raided his school after a local free-​speech
rally. After finding copies of the rally speeches, police arrested a student and placed the
headmaster under surveillance). Once he left for the University of Bonn in 1835, Marx
joined discussion groups such as the “Poets Society,” which were thinly disguised to dis-
cuss politics of the time. Marx’s intellectual curiosity was matched by his rowdy night-
life. As one of the co-​presidents of the Trier Tavern Club, Marx was prone to drinking
and fighting, even engaging in a duel that left him with a small scar over his left eye. His
father, hearing of his exploits, moved him to the University of Berlin (Wheen 1999:13,
16–​17). There, Marx pursued and became engaged to Jenny von Westphalen, whom he
would eventually marry and remain with until her death in 1881 (McLellan 1973:18).
While in Berlin, Marx’s interests shifted from the study of law to philosophy. He was
drawn to ideas of G. W. F. Hegel, the former chair of philosophy who had recently passed
away. Marx become involved with a group of students known as the “Young Hegelians,”
who critically engaged Hegel’s philosophy, embracing the “subversiveness” of his earlier
work (Wheen 1999:23–24). The Young Hegelians became radicalized though their own
studies, championing atheism, democracy, and republicanism. Such radicalism clashed
with the conservative regime of Frederick William IV. By the time Marx completed his
doctoral thesis, “The Difference Between the Democritean and Epicurean Philosophy
of Nature,” he had exceeded the maximum of four years at University of Berlin. Rather
than applying for an extension, he submitted his thesis to the University of Jena, which
awarded him a doctorate in 1841. The next year, a fellow Young Hegelian, Bruno Bauer,
was discharged from his lectureship at the University of Bonn. In a public display of
defiance, Bauer and Marx rented donkeys and galloped through the nearby town of
Godesberg around Easter, “parodying Jesus’s entry into Jerusalem” (Sperber 2013: 75, 63,

2 For an extended version of this section, aimed at graduate audiences and above, see Prew (2018).

For one focused on globalization and an undergraduate audience, see Paul Prew, “Karl Marx,” in
Economic Theory and Globalisation, edited by Thomas Hoerber and Alain Anquetil, under contract
with Palgrave.
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 Lábjegyzetek.
1) Vezető.
2) Tánczosnők egy arab törzsből.
3) Sivatagi folyam.
 TARTALOM.

JUSTH ZSIGMOND. Irta Mikszáth Kálmán V

A PÉNZ LEGENDÁJA 1
GÁNYÓ JULCSA 135
 KÉPJEGYZÉK.

1. Justh Zsigmond arczképe II

2. Belényesy Mária grófnő 7
3. A mama karjaiba vetettem magamat 26
4. Figyeljen reám, gyermekem 46
5. Kiültünk egy terrassera 75
6. Vissza már a karjain hoz át 91
7. Eszeveszett gyorsasággal haladtunk 110
8. És felvettük az élet keresztjét 134
9. Odakönyökölt a kis ház falára 139
10. Átfonta a leány derekán a karját 157
11. Julcsa lángszín rokolyája perdül 176
12. Künn ült a pitvarajtóban 197
13. Böske néni beszélt, beszélt 217
14. Lassan haladt 230
15. Julcsa csendesen odalépett hozzá 245

Javítások.
Az eredeti szöveg helyesírásán nem változtattunk.
A nyomdai hibákat javítottuk. Ezek listája:

42 «zöld« «zöld»
44 «bating«-jéről «bating»-jéről
 63 formánélek formán élek
98 bogy ez hogy ez
114 akarhat őlem akarhat tőlem
230 valami a elkét valami a lelkét
 *** END OF THE PROJECT GUTENBERG EBOOK A PÉNZ
LEGENDÁJA; GÁNYÓ JULCSA ***

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