Validity of Marx’s Economic Thoughts for XXI Century

- Presentation speakers
  - Dragoljub Stojanov, Faculty of Economics, University of Rijeka, Croatia
Abstract:

This paper examines the validity of economic thoughts of Karl Marx for the present time. The Marx approach to business cycles and economic crisis is relevant today more than ever in the world economic history as well as his picture of the world in a new perspective. He has predicted the future of the world as new and globalised world before the world turns into post capitalist society. Marx did had some ideas in common with neo-classical economists especially in the sphere of microeconomics, and differs from neo-classical economists significantly in their approach to both: macroeconomic issues and their consequences for a society as a whole and. That is why Marx as the giant of economic thought deserve to be re-approached and re-examined, especially as the events of our age remind us to some extent of the times when The Capital has been written. In this paper we compare Marx as world economist No.1 with Keynes as world economist No.2 in order to point out Marx’s greatness and extant relevance.