Abstract: There are controversies around the revaluation of Gramsci – the key figure in early Western Marxism – with the critique of political economy, in which Perry Anderson and Ernesto Laclau proposed conflicting interpretations. With the studies of the Prison Notebooks, from Selections from the Prison Notebooks to Further selections from the Prison Notebooks in particular, we argue that, influenced by Croce and Sraffa, Gramsci paid attentions both to " critical economics” as well as to " philosophy of praxis”, so as to analyse Syndicalism and Fordism. In his studies, critique of economic man, analysis of determinative market, interpretation of immanence, and approach of tendency law are key points in Gramsci’s understandings on political economy and capitalist social formation. We expect a further elucidation on Gramsci’s philosophy of praxis, ideology hegemony and state theory with this article.