In the realm of ideas in general, the Marxian vision -- including his theory of history -- has not only dominated various fields at various times, it has survived both the continuing prosperity of capitalism and the economic debacles of socialism. It has become axiomatic among sections of the intelligentsia, impervious to the corrosive effects of evidence or logic. ¶ But what did Marx contribute to economics? Contributions depend not only on what was offered but also on what was accepted, and there is no major premise, doctrine, or tool of analysis in economics today that derived from the writings of Karl Marx. There is no need to deny that Marx was in many ways a major historic figure of the nineteenth century, whose long shadow still falls across the world of the twenty-first century. Yet, jarring as the phrase may be, from the standpoint of the economics profession Marx was, as Professor Paul Samuelson called him, "a minor post-Ricardian."
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Thomas Sowell (2006). On Classical Economics, Yale University Press, p. 186Karl Marx
From the viewpoint of pure economic theory, Karl Marx can be regarded as a minor post-Ricardian.
Karl Marx
Marx claimed in Volume 1 [of Capital] that there was some interesting economics involved in a labor theory of value, and some believe his greatest fame in pure economics lies in his attempted analysis of "surplus value." Although he promised to clear up the contradiction between "price" and "value" in later volumes, neither he nor Engels ever made good this claim.
Karl Marx
Marx, however imperfectly he worked out the details, set himself the task of discovering the law of motion of capitalism, and if there is any hope of progress in economics at all, it must be in using academic methods to solve the problems posed by Marx.
Joan Robinson
All the sophisticated syllogisms of the ponderous volumes published by Marx, Engels, and hundreds of Marxian authors cannot conceal the fact that the only and ultimate source of Marx's prophecy is an alleged inspiration by virtue of which Marx claims to have guessed the plans of the mysterious powers determining the course of history. Like Hegel, Marx was a prophet communicating to the people the revelation that an inner voice had imparted to him.
Karl Marx
[I]nternational Marxism is nothing but the application--effected by the Jew, Karl Marx--of a general conception of life to a definite profession of political faith; but in reality that general concept had existed long before the time of Karl Marx. If it had not already existed as a widely diffused infection the amazing political progress of the Marxist teaching would never have been possible. In reality what distinguished Karl Marx from the millions who were affected in the same way was that, in a world already in a state of gradual decomposition, he used his keen powers of prognosis to detect the essential poisons, so as to extract them and concentrate them, with the art of a necromancer, in a solution which would bring about the rapid destruction of the independent nations on the globe. But all this was done in the service of his race.
Karl Marx
Marx, Karl
Mary (mother of Jesus)
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