Abstract

In this second part, several pioneering works by leading Austromarxist intellectuals are presented. The article begins with Otto Bauer’s seminal book on the Nationality Question, which was also an early contribution to the analysis of the most recent developments of capitalism. Rudolf Hilferding’s work on Finance Capital provided the first major contribution towards a systematic analysis of the new phenomena of big corporations and high finance. These and other works are placed in their context, insofar as they were seen by the Austromarxists as contributions to the analysis and understanding of the transformations of capitalism, before and after WWI. These thinkers consequently sought to bring the same ardour and rigour to the task of explaining the causes and consequences of the Great Depression unfolding in the aftermath of 1929. Certain major works of the Austromarxists (some still unpublished) took up this challenge. The article concludes with a brief overview of the debates about a left alternative to the politics of austerity during the great depression of the period.