ABSTRACT

The Socialist and Communist party schools that survived the inter-war period briefly blossomed in the post-war years, but were shut down by McCarthyism.1

Still, while in existence, they promoted extensive interest in Marxian economic theory that was complemented and extended by academic scholarship. Moreover, the decline of McCarthyism in the 1950s and the collapse of the Communist Party in 1956 created intellectual room for the rise of dissent movements and thinkers, the culmination of which was the New Left movement in the 1960s. In the more questioning and dissonance atmosphere of the 1960s, radical scholarship emerged, Marxian scholarship re-emerged, and a critical perception of neoclassical economic theory developed. It was from this potent mixture of dissonance and criticism that radical economics and the Union for Radical Political Economics emerged in 1968.