Follows on from the first volume which dealt with the period from the death of Marx in 1883 to 1929. From 1930 onmwards the emphasis for theoretical analysis began to shift westwards, so that in the post-war era the heartland of Marxian political economy lay in Western Europe and North America. New problems also arose in this period, and elements of Marx's economics which had earlier received scant attention were elavated to greater prominance. Also after 1929 theoretical developments in Marxian economics became detached from successful revolutionary practice. 1929 was a year of considerable promise for Marxism. In the East, Stalin secured the seizure of power in 1917 by carrying through a "revolution from above" which created a new mode of production, rapidly accelerated economic development, and gave birth to a new orthodoxy. In the West, the onset of the Great Depression promised the economic collapse of capitalism and the ending of Soviet isolation.
"A History of Marxian Economics Volume 2, 1929-1990" takes an overview of Marxian economics, outlining the most significant innovations, the incorporation of Keynesian theory into Marxism, as well as tackling the new theories of Imperialism and ending with an analysis of current controversies in economics and their links to a Marxist theory.