The Institute’s original economic theories did not fit post-1973 capitalism

Evidence

At first glance, such developments might seem to provide little sustenance for a continued interest in the Institut fur Socialforschung’s legacy. Neither the traditional Marxist crisis theory espoused by Henryk Grossmann, nor Franz Neumann’s notion of a mixture of monopoly capitalism and a command economy, nor Frederick Pollock’s idea of state capitalism and the “primacy of the political” conform to the new paradigm. — Martin Jay, The Dialectical Imagination, 19

Categorization

• XREF: Surveying the three main Institute-era theories of capitalism (Grossmann, Neumann, Pollock) and their obsolescence after 1973. — connects to: The Institute’s fascism debate turned on how capitalism’s role had changed — Martin Jay, The Dialectical Imagination: A History…, 482

Broader Connections

• The Institute’s fascism debate turned on how capitalism’s role had changed #qualifies (0.80) — Martin Jay, The Dialectical Imagination, 482