How would Marx have understood twenty-first-century capitalism? For Buzgalin and Kolganov, the answer lies in a theoretical investigation of how and why the fundamental elements of capitalism – commodities, money and capital – have changed since the publication of Marx's Capital more than 150 years ago.
Introducing the concepts of social creativity, markets for simulacra and virtual fictitious capital – Buzgalin and Kolganov offer a recovery and development of Marx's understanding of social transformations. Twenty-first century capitalism not only demonstrates Marxism's relevance to the core economic questions of our time and its superiority over neoclassical economics, but it leads English-language readers into the 'undiscovered country' of Soviet and post-Soviet critical Marxism. Buzgalin and Kolganov shows how these reflections relate to major theoretical developments and currents in Western Marxism, across the usually separated fields of economy and culture.
How might modern Marxism respond to the contemporary challenges of the commodification of knowledge and information? And can it arrive at something resembling a Capital for the twenty-first century? This accessible and comprehensive account is essential reading for those wanting to understand the problems of the modern economy.
