World in Crisis: A Global Analysis of Marx's Law of Profitability

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    Editor(s): Guglielmo Carchedi, Michael Roberts

    Publisher: Haymarket Books

    Year: 2018

    Format: Paperback

    Size: 450 pages

    ISBN: 9781608461813

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The most comprehensive empirically based defense of Marx’s law of profitability as the cause of Capitalist crises.

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

Book Details

Editor: Guglielmo Carchedi
Editor: Michael Roberts
Format: Paperback
ISBN: 9781608461813
Size: 450 pages
Publisher: Haymarket Books
Year: 2018

Tags: against war and empire ....... anticapitalism ....... economics ....... Guglielmo Carchedi ....... Haymarket Books ....... marxism ....... Michael Roberts .......


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