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World in Crisis
Marxist Perspectives on Crash & Crisis

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

Other books Edited by Guglielmo Carchedi and Michael Roberts

  • The Long Depression

    A significant new analysis of the current economic crisis by leading Marxist economist, Michael Roberts
  • Behind the Crisis

    Many academics have dismissed Marx's ideas because of his obscure method of inquiry.
    This book goes firmly against that current.