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The Time Dimension in Marxian Social Theory

Wolf Heydebrand

Institute for Law and Society, New York University, wolf.heydebrand{at}nyu.edu

This article considers praxis, labor, and history as aspects of time that are constitutive of Marxian theory. The transition from `praxis' to the critical analysis of capitalism in the labor theory of surplus value is discussed. The main part of the article suggests steps for analyzing the historical dimension of capitalist globalization. First, the forms of capital and their trajectories, e.g. commercial, productive, and financial capital, are distinguished. Second, transnational capitalist expansion is described and explained, using the movement of finance capital as the main criterion of historical periodization. Third, the article shows the importance of a unique moment of historical time, namely the major part of the 20th century, for making Marxian theorizing amenable to certain standards of explanatory social theory.

Key Words: globalization • historical time • labor time • praxis • regulation of finance capital

Time & Society, Vol. 12, No. 2-3, 147-188 (2003)
DOI: 10.1177/0961463X030122001
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