The Failure of Capitalist Production: Underlying Causes of the Great Recession - Hardcover

Kliman, Andrew

Hardcover

ISBN 10: 0745332404 ISBN 13: 9780745332406

Verlag: Pluto Press, 2011

Inhaltsangabe

The recent financial crisis and Great Recession have been analysed endlessly in the mainstream and academia, but this is the first book to conclude, on the basis of in-depth analyses of official US data, that Marx's crisis theory can explain these events.

Marx believed that the rate of profit has a tendency to fall, leading to economic crises and recessions. Many economists, Marxists among them, have dismissed this theory out of hand, but Andrew Kliman's careful data analysis shows that the rate of profit did indeed decline after the post-World War II boom and that free-market policies failed to reverse the decline. The fall in profitability led to sluggish investment and economic growth, mounting debt problems, desperate attempts of governments to fight these problems by piling up even more debt - and ultimately to the Great Recession.

Kliman's conclusion is simple but shocking: short of socialist transformation, the only way to escape the 'new normal' of a stagnant, crisis-prone economy is to restore profitability through full-scale destruction of existing wealth, something not seen since the Depression of the 1930s.

Über diesen Titel

Über die Autorin bzw. den Autor

Andrew Kliman is Professor of Economics at Pace University, New York. He is the author of Reclaiming Marx's 'Capital' (Lexington, 2006 ) and The Failure of Capitalist Production (Pluto, 2011).

Details zur Ausgabe

• Verlag: Pluto Press
• Erscheinungsdatum: 2011
• Sprache: Englisch
• ISBN 10: 0745332404
• ISBN 13: 9780745332406
• Einband: Tapa dura
• Anzahl der Seiten: 256
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Nicht verfügbar