(P/B) THE LONG DEPRESSION
MARXISM AND THE GLOBAL CRISIS OF CAPITALISM
ROBERTS MICHAELΚωδ. Πολιτείας: 1863-0015
Παρουσίαση
Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump. (From the publisher)"This book is a tour de force analysis of the current global economic crisis and the preconditions and prospects for recovery in the years ahead. Based largely on empirical data and Marx's theory of the falling rate of profit, Roberts argues that the world economy is in a long depression due to a falling rate of profit and a massive increase of debt. He argues further that a full recovery and a return to more prosperous conditions requires a prior even more severe depression, characterized by widespread bankruptcies, which would devalue capital and restore the rate of profit and would also wipe out much of the debt. He argues that a much better alternative would be to wipe out capitalism and construct a more democratic and egalitarian economy that is not vulnerable to recurring depressions." - Fred Moseley, professor of economics, Mount Holyoke College
"With great clarity, Michael Roberts explains capitalism's necessary proneness to profound economic crises and surveys the course of the current and previous depressions. Extensive use of empirical evidence, very accessibly presented, make his own main, Marxist argument and refutations of rival explanations persuasive. This book is at once an engaging read and a powerful political weapon." - Rick Kuhn, honorary associate professor at the Australian National University and winner of the 2007 Isaac Deutscher Memorial Prize
Περιεχόμενα
Introduction: Getting DepressedChapter 1: The Cause of Depressions
Chapter 2: The Long Depression of the Late Nineteenth Century
Chapter 3: The Great Depression of the Mid-Twentieth Century
Chapter 4: The Profitability Crisis and the Neoliberal Response
Chapter 5: The Great Recession of the Twenty-First Century
Chapter 6: Debt Matters
Chapter 7: From Slump to Depression
Chapter 8: America Crawls
Chapter 9: The Failing Euro Project
Chapter 10: Japan Stagnates
Chapter 11: The Rest Cannot Escape
Chapter 12: Cycles within Cycles
Chapter 13: Past Its Use-By Date?
Appendix 1: Measuring the Rate of Profit
Appendix 2: The Failure of Keynesianism
Bibliography
Notes
Index
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