In this talk from the recent International Marxist University, Rob Sewell - editor of Socialist Appeal - outlines the fundamentals of Marxist economics, and explains why only these revolutionary ideas can offer a way out of the impasse of capitalist crisis.

As Rob explains, many attempts have been made over the years to ‘update’ Marx’s economic theories. Inevitably, these ideas jettison the revolutionary core of Marxist economics.

Instead of applying a dialectical and materialist method to the economy, the revisionists slip into a mechanical and idealist mode of analysis. They do not see the economy as a living, breathing system, composed of human beings and conflicting classes, but as a set of abstract equations.

In this talk, Rob Sewell sets the record straight, showing how revisionist ideas fall short, and giving an overview of genuine Marxist economic theory.

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