World in Crisis: A Global Analysis of Marx's Law of ProfitabilityGuglielmo Carchedi, Michael Roberts Most mainstream economists view capitalism’s periodic breakdowns as nothing more than temporary aberrations from an otherwise 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 defense of Marx’s law of profitability and its central role in explaining capitalist crises. “World in Crisis has a specific aim: to provide empirical validity to the hypothesis that the cause of recurring economic crises or slumps in output, investment, and employment in modern economies can be found in Marx’s law of the tendential fall in the rate of profit. Marx believed, and we agree, that this is ‘the most important law in political economy.’” —from the preface |
Contents
Theories and Evidence | |
The Tendency of the Rate of Profit to Fall since the Nineteenth Century and | |
A Marxist Analysis of Prolonged Capitalist | |
The UK Rate of Profit and British Economic History | |
Surplus Value Profit and Unproductive Labor in the Greek Economy 19582013 | |
The Profit Rate in Brazil 19532008 | |
The Neoliberal Financialization of the US Economy | |
The Speculative Heart of Capital | |
The Unfolding History of Speculative Capital | |
From the Crisis in Surplus Value to the Crisis in the Euro | |
The Euro Crisis Is a Crisis of Capitalism | |
Contributors | |
Other editions - View all
The World in Crisis: Marxist Perspectives on Crash and Crisis Guglielmo Carchedi,Michael Roberts No preview available - 2018 |