The Capitalist Cycle
An Essay on the Marxist Theory of the Cycle
The Capitalist Cycle is a translation of a previously unknown work in Marxist economic theory. Originally published in 1928, this rediscovered work is one of the most creative essays witten by a Soviet economist during the first two decades after the Russian Revolution. Following the dialectic of Hegel and Marx, Maksakovsky aims to provide a 'concluding chapter' for Marx's Capital. The book examines economic methodology and logically reconstructs Marx's analysis into a comprehensive and dynamic theory of cyclical economic crises. The introductory essay by Richard B. Day situates Maksakovsky's work within the Hegelian and Marxist philosophical traditions by emphasizing the book's dialectical logic as well as its contribution to economic science.
Richard B. Day, Ph.D. (1970), University of London, is Professor of Political Economy at the University of Toronto. He has written extensively on early Soviet debates and translated several books, including works by N.I. Bukharin and E.A. Preobrazhensky.