ABSTRACT
Economic historicism is the method applied by Marx to an analysis of the impending changes in our society. According to Marx, every particular social system must destroy itself, simply because it must create the forces which produce the next historical period. A suffi ciently penetrating analysis of the feudal system, undertaken shortly before the industrial revolution, might have led to the detection of the forces which were about to destroy feudalism, and to the prediction of the most important characteristics of the coming period, capitalism. Similarly, an analysis of the development of capitalism might enable us to detect the forces which work for its destruction, and to predict the most important charac teristics of the new historical period which lies ahead of us. For there is surely no reason to believe that capitalism, of all social systems, will last for ever. On the contrary, the material conditions of production, and with them, the ways of human life, have never changed so quickly as they have done under capitalism. By changing its own foundations in this way, capitalism is bound to transform itself, and to produce a new period in the history of mankind.
