Critically examine the Marxist aspect of political economy approach to the study of comparative politics. (UPSC CSE Mains 2016 - Political Science and International Relations, Paper 2)
Marx’s method of political economy offers a critique of the political economy of capitalism in relation to its historical, social and material foundations, and this contributes to understanding and explaining the nature and functioning of capitalism, as well as the root causes of social and economic inequalities and its different forms of (re)production in industrialised capitalist societies.
According to Marx, legal relations and the forms of the state are routed in the material conditions of life. His conception of the state is therefore related to the productive base of the society through various stages of history. In his opinion the base or economic structure of society becomes the real foundation on which people build up essential relations. The legal and political structure is but a reflection of that base. Due political and ideological super-structures are built on the economic base of foundation. Political economy explains the relations between the base and the super-structures.
- Imperialism has been a keen area of interest for Marxists. Earlier Marxists have linked the origin and development of imperialism with the advancement of capitalism. However, based on the analysis of imperialism presented by Marxists after Lenin, it can be said that to have a proper understanding of the Marxist theory of imperialism, we necessarily need to go beyond Hobson and Lenin and include neo-Marxist and globalisation era Marxist account of imperialism in our study. Taking inspiration from Marxism, three variants of neo-Marxism have significantly enhanced our understanding of world politics.
- The dependency theory explains how unfair terms of trade between developed and newly independent states lead to exploitation of post-colonial states by the developed capitalist states. The neo-Gramscian approach has splendidly shown how the powerful state establishes and maintain their hegemony and suggested the way to end it. Going a step further, the critical theory has underscored the need and way to end the exploitation of human being and realise their emancipation. In international relations the description of ‘class relations’ within a capitalist system has been applied to describe relations between the core (industrialized countries) and periphery (developing countries), and the unequal exchange that occurs between the two. Dependency theorists (A.G.Frank, Wallerstein) describe the ways classes and groups in the ‘core’ link to the ‘periphery’. Underdevelopment and poverty in so many countries in explained as the result of economic, social, and political structures within countries that have been deeply influenced by their international economic relations.
- Marxists make the connection between globalisation, capitalism and the impoverishment of the third world. They argue that all protection from the looting of the worlds poor by global capital is being dismantled. Even the decision-making of the enforcers of global capitalism; WTO, IMF, and World Bank; is directed by the advanced capitalist countries.
- However, the Marxist approach faces criticisms for over-simplifying complex phenomena, neglecting non-class issues, and underestimating the role of agency in global politics. It is important to critically engage with these perspectives and consider alternative theoretical frameworks to gain a comprehensive understanding of international relations.
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