Kōzō Uno's Theory of Crisis presents an unparalleled and systematic demonstration of the inevitability of crisis under the capitalist mode of production. Based on a radical re-interpretation of Marx's Capital, Uno's theory of crisis emphasizes 'excess capital alongside surplus populations' and 'the commodification of labour power' at the heart of Marx's theory of crisis, and additionally provides a concise overview of capitalist crises from the stage of mercantilism to the imperialist stage of capitalism.

Included are two Appendix essays by Uno, which disentangle theoretical difficulties related to the theory of crisis in Marx's Capital, and two original and contemporary essays by scholars Makoto Itoh, Ken C. Kawashima and Gavin Walker. This book was originally published in Japanese as Kyōkō-ron by Iwanami Shoten, 1953.