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 defense of Marx’s law of profitability and its central role in explaining these capitalist crises.
Gugliemo Carchedi has worked at the United Nations in New York and has taught at the University of Amsterdam.
Michael Roberts has worked as an economist for over thirty years in the city of London financial center.