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Additionally, there are intellectual critiques of Marxism that contest certain assumptions prevalent in Marx's thought and Marxism after him, without exactly rejecting Marxist politics.[83] Other contemporary supporters of Marxism argue that many aspects of Marxist thought are viable, but that the corpus is incomplete or outdated in regards to certain aspects of economic, political or social theory. They may combine some Marxist concepts with the ideas of other theorists such as Max Weber—the Frankfurt School is one example.[84][85]

Philosopher and historian of ideas Leszek Kołakowski pointed out that "Marx's theory is incomplete or ambiguous in many places, and could be 'applied' in many contradictory ways without manifestly infringing its principles". Specifically, he considers "the laws of dialectics" as fundamentally erroneous, stating that some are "truisms with no specific Marxist content", others "philosophical dogmas that cannot be proved by scientific means" and some just "nonsense". He believes that some Marxist laws can be interpreted differently, but that these interpretations still in general fall into one of the two categories of error.[86]

Okishio's theorem shows that if capitalists use cost-cutting techniques and real wages do not increase, the rate of profit must rise, which casts doubt on Marx's view that the rate of profit would tend to fall.[87]

The allegations of inconsistency have been a large part of Marxian economics and the debates around it since the 1970s.[88] Andrew Kliman argues that this undermines Marx's critiques and the correction of the alleged inconsistencies, because internally inconsistent theories cannot be right by definition.[89]

Marx's predictions have been criticized because they have allegedly failed, with some pointing towards the GDP per capita increasing generally in capitalist economies compared to less market oriented economics, the capitalist economies not suffering worsening economic crises leading to the overthrow of the capitalist system and communist revolutions not occurring in the most advanced capitalist nations, but instead in undeveloped regions.[90][91]

In his books The Poverty

In his books The Poverty of Historicism and Conjectures and Refutations, philosopher of science Karl Popper criticized the explanatory power and validity of historical materialism.[92] Popper believed that Marxism had been initially scientific, in that Marx had postulated a genuinely predictive theory. When these predictions were not in fact borne out, Popper argues that the theory avoided falsification by the addition of ad hoc hypotheses that made it compatible with the facts. Because of this, Popper asserted, a theory that was initially genuinely scientific degenerated into pseudoscientific dogma.[93]

Democratic socialists and social democrats reject the idea that socialism can be accomplished only through extra-legal class conflict and a proletarian revolution. The relationship between Marx and other socialist thinkers and organizations—rooted in Marxism's "scientific" and anti-utopian socialism, among other factors—has divided Marxists from other socialists since Marx's life.[citation needed]

After Marx's death and with the emergence of Marxism, there have

After Marx's death and with the emergence of Marxism, there have also been dissensions within Marxism itself—a notable example is the splitting of the Russian Social Democratic Labour Party into Bolsheviks and Mensheviks. Orthodox Marxists became opposed to a less dogmatic, more innovative, or even revisionist Marxism.[citation needed]

Anarchism has had a strained relationship with Marxism since Marx's life. Anarchists and many non-Marxist libertarian socialists reject the need for a transitory state phase, claiming that socialism can only be established through decentralized, non-coercive organization. Anarchist Mikhail Bakunin criticized Marx for his authoritarian bent.[94] The phrases "barracks socialism" or "barracks communism" became a shorthand for this critique, evoking the image of citizens' lives being as regimented as the lives of conscripts in a barracks.[95]

Noam Chomsky is critical of Marxism's dogmatic strains and the idea of Marxism itself, but still appreciates Marx's contributions to political thought. Unlike some anarchists, Chomsky does not consider Bolshevism "Marxism in practice", but he does recognize that Marx was a complicated

Noam Chomsky is critical of Marxism's dogmatic strains and the idea of Marxism itself, but still appreciates Marx's contributions to political thought. Unlike some anarchists, Chomsky does not consider Bolshevism "Marxism in practice", but he does recognize that Marx was a complicated figure who had conflicting ideas. While acknowledging the latent authoritarianism in Marx, Chomsky also points to the libertarian strains that developed into the council communism of Rosa Luxemburg and Anton Pannekoek. However, his commitment to libertarian socialism has led him to characterize himself as an anarchist with radical Marxist leanings (see the political positions of Noam Chomsky).[citation needed]

Other critiques come from an economic standpoint. Vladimir Karpovich Dmitriev writing in 1898,[96] Ladislaus von Bortkiewicz writing in 1906–1907[97] and subsequent critics have alleged that Marx's value theory and law of the tendency of the rate of profit to fall are internally inconsistent. In other words, the critics allege that Marx drew conclusions that actually do not follow from his theoretical premises. Once these alleged errors are corrected, his conclusion that aggregate price and profit are determined by and equal to aggregate value and surplus value no longer holds true. This result calls into question his theory that the exploitation of workers is the sole source of profit.[98]

Both Marxism and socialism have received considerable critical

Both Marxism and socialism have received considerable critical analysis from multiple generations of Austrian economists in terms of scientific methodology, economic theory and political implications.[99][100] During the marginal revolution, subjective value theory was rediscovered by Carl Menger, a development that fundamentally undermined[according to whom?] the British cost theories of value.[citation needed] The restoration of subjectivism and praxeological methodology previously used by classical economists including Richard Cantillon, Anne-Robert-Jacques Turgot, Jean-Baptiste Say and Frédéric Bastiat led Menger to criticise historicist methodology in general. Second-generation Austrian economist Eugen Böhm von Bawerk used praxeological and subjectivist methodology to attack the law of value fundamentally. Gottfried Haberler has regarded his criticism as "definitive", arguing that Böhm-Bawerk's critique of Marx's economics was so "thorough and devastating" that he believes that as of the 1960s no Marxian scholar had conclusively refuted it.[101] Third-generation Austrian Ludwig von Mises rekindled debate about the economic calculation problem by arguing that without price signals in capital goods, in his opinion all other aspects of the market economy are irrational. This led him to declare that "rational economic activity is impossible in a socialist commonwealth".[102]

Daron Acemoglu and James A. Robinson argue that Marx's economic theory was fundamentally flawed because it attempted to simplify the economy into a few general laws that ignored the impact of institutions on the economy.[103]

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