What is the relation between Marxism and New Historicism?

Both
Marxist and New Historicist criticism
emphasize the cultural context of a work of literature in
their techniques of
analysis. In opposition to schools of thought like the New Criticism, these

critical theories argue that one cannot understand a work independent of the environment
in
which it was produced. The main difference between the two is that Marxist
literary criticism is
more focused on the economic aspects of power
relations, while New Historicism has a broader
approach. A New Historicist
might analyze power relations in a text, but they could also deal
with how
elements of the cultural context such as religion, visual art, the status of
science,
etc. would have affected the production of the literary text. To
distinguish between a Marxist
and a New Historicist critique of a text, find
out what aspect of the cultural context they are
using to illuminate the
work. If the contextual element is socioeconomic, the piece is most
likely
using a Marxist approach; if the...