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Global Capitalism in Crisis

Karl Marx & The Decay of the Profit System

By (author) Murray E.G.  Smith
Categories: Political economy, Economics, Economics, Finance, Business and Management, Social discrimination and equal treatment, Social and ethical issues, Society and culture: general, Society and Social Sciences
Publisher: Fernwood Publishing
Paperback : 9781552663530, 172 pages, March 2010
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Table of contents

  • : The Global Economic Crisis: A Marxist Perspective
  • : A Summary of Marx’s Theories of Value, Capital and Crisis
  • : The Necessity of Value Theory: Brenner’s Analysis of the “Long Downturn” and Marx’s Theory of Crisis
  • : Class Struggle and Socialist Transformation: Beyond the Law of Value
  • : The Global Crisis, Marxism and the Malaise of the Anti-Capitalist Left
  • : Appendix 1: The Controversy Surrounding Marx’s Theory of Value
  • : Appendix 2: Socially Necessary Unproductive Labour in Contemporary Capitalism
  • : Bibliography
  • : Index

Description

Providing a Marxian analysis of the origins, implications, and scope of the current economic downturn, this critique of global capitalism argues that the ongoing crisis is not merely a result of overProduction and problems with credit and finance, but rather a deep-seated systemic failure of capitalism itself. The discussion clearly roots the present economic slump in the history of capitalism and contends that, in order to find a more permanent solution, the crisis needs to be understood structurally, as the result of a failed theory, rather than as an aberration.