A General Theory of Economic Systems

Abstract

Our explanation of neoliberalism in advanced capitalism is cast in terms of historical materialism, and the explanation takes place at three different levels of generality. In this chapter, we make a case for historical materialism being applicable to all of human history, followed in the next chapter with the case for historical materialism limited to the capitalist era. Then, in the remainder of the book, and especially in Chapters 5–8, there follows the application of historical materialism to advanced capitalism at the end of the twentieth century and the beginning of the twenty-first century. The aim is to strengthen our argument sequentially, by lowering the level of abstraction in two stages. We claim that there are good arguments in favour of historical materialism as a general theory of economic systems, but they are strengthened if their explanatory range is confined to capitalist economic systems, and further strengthened if limited to contemporary advanced capitalism.