Page 29 - Culture Society and Economy

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CULTURE, SOCIETY AND ECONOMY

of value in the real world of a global economy with a highly developed
division of labor – very little of these play a central role in the theoretical
formulations of the Left today. Yet, a cursory look at the literature on the
problems of ‘real existing socialism’ or of ‘socialism with Chinese character-
istics’, or of Cuba today makes it quite clear that these are indeed funda-
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mental issues. By locating the substance of Marxism mainly in the cultural
sphere, one is left with the distinct impression that in the economic sphere,
Marxism is unproblematic. Yet it is precisely in the economic sphere –
and in the politics which was required to buttress such economic policies –
that applied Marxism has been a dismal failure, except, of late, for the
controversial case of market socialism in China. The theorization of the
economic therefore cannot be avoided.

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