Marxism and Regulation Theory

Abstract

The ideas associated with the regulation ‘school’ have grown in influence in the last two decades and now comprise one of the most important approaches to the study of contemporary political economy. In many ways, the regulationist research paradigm has achieved recognition and a degree of legitimacy beyond the domain of neo-Marxist scholarship. In terms of the survival or demise of Marxist analyses of the political economy of contemporary capitalist states, the history and applicability of the regulationist approach is equally significant. However, its devotees claim to build upon the insights embedded within Marx’s own work while avoiding some of the pitfalls into which Marxist social analysis has fallen. The viability of this critical perspective will play an important part in determining whether an analytical input into social science research can be maintained by Marxists.