ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Marxist Ideas in Development Economics-A Brief Evaluation

Marxist Ideas in Development Economics A Brief Evaluation Pranab Bardhan In development economics, as in much of social sciences in general, the most valuable contribution of the Marxist approach is the sense of history with which it is imbued, its focus on the tension between property relations and productive potential in a given social formation, and on the importance of collective action and power in enhancing or thwarting processes of institutional change to resolve that tension, its insistence on bringing to the forefront of public policy debates an analysis of the nature of the state and the constellation of power groupings in civil society, and, of course, its abiding commitment to certain normative ideas on questions of exploitation and injustice.

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