The view on capitalism presented by traditional Marxism is a rather simple one. It can be used to affect moral feelings about exploitation, but deeper analytical insights are very limited. This becomes rather obvious, especially when modern developments like a currency system without a money commodity, or the globalized finance system come into view. The traditional “Marxist” view is indeed irrelevant for the understanding of the changes of contemporary world capitalism.
But we get a different picture when Marxian economics is conceived as a critique of economic categories centered around “form-analysis”.
(...) So the simple ideas of traditional “Marxist political economy”, centered around labor and exploitation and heavily relying on the false falling rate of profit (sic), cannot help very much to understand contemporary capitalism. But a “critique of political economy”, centered around “form analysis”, fetishism and a monetary theory of value and capital can help very well.
Lea las ideas sobre lo que en la concepcion de Michael Heinrich es verdaderamente sostenible y relevante para la teoría marxista en este artículo publicado en la New School Economic Review