<p>“<em>World in Crisis</em> presents detailed evidence from across the world, and over the long historical span, to show that the tendency does really exist, and has a clear and ultimately dominant influence in determining the general state of economies, nationally and globally.” –<em>Counterfire</em></p>

Most mainstream economists view capitalism's periodic breakdowns are nothing more than temporary aberrations from another wise unbroken path toward prosperity. For Marxists, this fundamental flaw has long been acknowledged as a central feature of the free market system. This groundbreaking volume brings together Marxist scholars from around the world to offer an empirically grounded defence of Marx's law of profitability and its central role in explaining these capitalist crises.
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<p>The most comprehensive empirically based defense of Marx’s law of profitability as the cause of Capitalist crises.</p>

Preface

Introduction

 

Part 1. The US economy

Chapter 1. G. Carchedi and M. Roberts – The long roots of the present crisis: Keynesians, Austerians, and Marx’s law

Chapter 2. G. Carchedi – The law of crises

Chapter 3. J.A. Tapia – Investment, profit, and crises: theories and evidence

 

Part 2. The international dimension

Chapter 4. E.E. Maito – The tendency of the rate of profit to fall since the 19th century and a world rate of profit

Chapter 5. T. Sato – Japan’s ‘lost’ two decades: a Marxist analysis of prolonged capitalist stagnation

Chapter 6. M. Roberts – The UK rate of profit and British economic history

Chapter 7.. J.P. Mateo – The Long Depression in the Spanish economy: bubble, profits, and debt

Chapter 8. T. Maniatis and K. Passas – Surplus value, profit, and unproductive labor in the Greek economy, 1958–2013

Chapter 9. A. Marquetti, E.M. Filho, and V. Lautert – The profit rate in Brazil, 1953–2008

Chapter 10. M. Gaulard – The Chinese economic crisis: a Marxist approach

 

Part 3. Credit, fictitious capital, and crises

Chapter 11. M. Roberts – Debt matters

Chapter 12. S. Cámara I. and A. Mariña F– The neoliberal financialization of the US economy

Chapter 13. M.E.G. Smith and J. Butovsky – The roots of the global crisis: Marx’s law of falling profitability and the US economy, 1950–2013

Chapter 14. T. Norfield – Derivatives and capitalist markets: the speculative heart of capital

Chapter 15. S. Nash High-frequency trading: the unfolding history of speculative capital

 

Part 4. The crisis and the euro

Chapter 16. G. Carchedi – From the crisis in surplus value to the crisis in the euro

Chapter 17. M. Roberts – The euro crisis is a crisis of capitalism

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Produktdetaljer

ISBN
9781608461813
Publisert
2018-10-01
Utgiver
Vendor
Haymarket Books
Høyde
230 mm
Bredde
152 mm
Aldersnivå
G, 01
Språk
Product language
Engelsk
Format
Product format
Heftet
Antall sider
350

Biografisk notat

Gugliemo Carchedi, doctorate (1965) in Economics, University of Turin, Italy, has worked at the United Nations in New York and has taught at the University of Amsterdam. He is the author of numerous articles and books in several fields of Marxist analysis and research.

Michael Roberts has worked as an economist for over thirty years in the City of London financial center. He is author of The Great Recession: A Marxist View (2009), and The Long Depression (2016).