The Falling Rate Of Profit And The Great Depression
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The Falling Rate Of Profit And The Great Recession Of 2007 2009
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Author : Peter H. Jones
language : en
Publisher: BRILL
Release Date : 2021-04-06
The Falling Rate Of Profit And The Great Recession Of 2007 2009 written by Peter H. Jones and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-06 with Political Science categories.
In The Falling Rate of Profit and the Great Recession of 2007-2009, Peter H. Jones develops a new non-equilibrium interpretation of the labour theory of value Karl Marx builds in Capital. Applying this to US national accounting data, Jones shows that when measured correctly the profit rate falls in the lead up to the Great Recession, and for the main reason Marx identifies: the rising organic composition of capital. Jones also details a new theory of finance, which shows how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He discusses the implications of the analysis and Marx and Engels’ work generally for a democratic socialist strategy.
The Falling Rate Of Profit And The Great Depression
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Author : Renu Sharma
language : en
Publisher:
Release Date : 1995
The Falling Rate Of Profit And The Great Depression written by Renu Sharma and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Depressions categories.
World In Crisis
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Author : Guiglelmo Carchedi
language : en
Publisher: Haymarket Books
Release Date : 2018-10-01
World In Crisis written by Guiglelmo Carchedi and has been published by Haymarket Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-01 with Business & Economics categories.
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.
The Long Depression
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Author : Michael Roberts
language : en
Publisher: Haymarket Books
Release Date : 2016-09-01
The Long Depression written by Michael Roberts and has been published by Haymarket Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-01 with Business & Economics categories.
Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump.
The Failure Of Capitalist Production
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Author : Andrew Kliman
language : en
Publisher:
Release Date : 2012
The Failure Of Capitalist Production written by Andrew Kliman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business cycles categories.
"The recent financial crisis and Great Recession have been analysed endlessly in the mainstream and academia, but this is the first book to conclude, on the basis of in-depth analyses of official US data, that Marx's crisis theory can explain these events. Marx believed that the rate of profit has a tendency to fall, leading to economic crises and recessions. Many economists, Marxists among them, have dismissed this theory out of hand, but Andrew Kliman's careful data analysis shows that the rate of profit did indeed decline after the post-World War II boom and that free-market policies failed to reverse the decline. The fall in profitability led to sluggish investment and economic growth, mounting debt problems, desperate attempts of governments to fight these problems by piling up even more debt -- and ultimately to the Great Recession. Kliman's conclusion is simple but shocking: short of socialist transformation, the only way to escape the 'new normal' of a stagnant, crisis-prone economy is to restore profitability through full-scale destruction of existing wealth, something not seen since the Depression of the 1930s."--Publisher's website.
The Great Depression
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Author : Lionel Robbins
language : en
Publisher: Ludwig von Mises Institute
Release Date : 2007
The Great Depression written by Lionel Robbins and has been published by Ludwig von Mises Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
The New Deals of America and Britain were a decade-long calamity that exceeded the damage of the economic downturn itself. The theory behind the policy was all wrong, but no one can say that the correct theory was not in circulation. This splendid book by Robbins presented the entire cause and remedy - in 1934! Rothbard himself says that this book is one of two excellent studies. Sadly, the power of the state and the myth that it could dig the world out of depression prevailed over the Robbins view that the depression was the result of a previous inflation and the best cure was to free the market and let it properly correct. This book has been obscure and difficult to find for far too long. But with this new Mises Institute edition, the proof is at last available that at least one great economist in the English speaking world had it precisely right. The world would have been spared much grief had his, instead of Keynes's, views prevailed.
How To Profit From The Next Great Depression
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Author : John Lafayette King
language : en
Publisher: Dutton Adult
Release Date : 1988
How To Profit From The Next Great Depression written by John Lafayette King and has been published by Dutton Adult this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.
A leading economic historian explains the forces that are propelling us toward an inescapable economic collapse and shows how individuals can not just survive but come out ahead.
The Falling Rate Of Profit
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Author : Joseph Moses Gillman
language : en
Publisher:
Release Date : 1957
The Falling Rate Of Profit written by Joseph Moses Gillman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1957 with Capitalism categories.
Rhymed text and illustrations relate how Wizard Gray changed his very gray world with color.
Profitability And The Great Recession
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Author : Ascension Mejorado
language : en
Publisher: Routledge
Release Date : 2013-10-23
Profitability And The Great Recession written by Ascension Mejorado and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-23 with Business & Economics categories.
From the mid-1980s, investors in the US increasingly directed capital towards the financial sector at the expense of non-financial sectors, lured by the perception of higher profits. This flow of capital inflated asset prices, creating the stock market and housing bubbles which burst when the imbalance between stagnant incomes and rising debts triggered the banking meltdown. Profitability and the Great Recession analyses these trends in profitability and capital accumulation, which the authors identify as the root cause of the financial crisis, in the context of the US and other major OECD countries. Drawing on insights from Adam Smith, David Ricardo, John Stuart Mill and Karl Marx, the authors interpret the relationship between capital accumulation and profitability trends through the conceptual lens of classical political economy. The book provides extensive empirical evidence of declining rates of US non-financial corporate accumulations from the mid-1960s and profitability trends in that sector falling from post-war highs. In contrast to this, it is shown that there was a vigorous rise of profitability in the financial sector from a 1982 trough to the early part of the twenty-first century, which led to the bloating of that sector. The authors conclude that the long-term falling accumulation trend in the non-financial corporate sector, highlighted by the bankruptcy of major automobile corporations, stands out as the underlying force that transformed the financial crisis into a fully-fledged Great Recession. This book will be of interest to students and researchers in the areas of economics, political economy, business and finance.
A Failure Of Capitalism
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Author : Richard A. Posner
language : en
Publisher: Harvard University Press
Release Date : 2011-05-31
A Failure Of Capitalism written by Richard A. Posner and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-31 with Business & Economics categories.
The financial and economic crisis that began in 2008 is the most alarming of our lifetime because of the warp-speed at which it is occurring. How could it have happened, especially after all that we’ve learned from the Great Depression? Why wasn’t it anticipated so that remedial steps could be taken to avoid or mitigate it? What can be done to reverse a slide into a full-blown depression? Why have the responses to date of the government and the economics profession been so lackluster? Richard Posner presents a concise and non-technical examination of this mother of all financial disasters and of the, as yet, stumbling efforts to cope with it. No previous acquaintance on the part of the reader with macroeconomics or the theory of finance is presupposed. This is a book for intelligent generalists that will interest specialists as well. Among the facts and causes Posner identifies are: excess savings flowing in from Asia and the reckless lowering of interest rates by the Federal Reserve Board; the relation between executive compensation, short-term profit goals, and risky lending; the housing bubble fuelled by low interest rates, aggressive mortgage marketing, and loose regulations; the low savings rate of American people; and the highly leveraged balance sheets of large financial institutions. Posner analyzes the two basic remedial approaches to the crisis, which correspond to the two theories of the cause of the Great Depression: the monetarist—that the Federal Reserve Board allowed the money supply to shrink, thus failing to prevent a disastrous deflation—and the Keynesian—that the depression was the product of a credit binge in the 1920s, a stock-market crash, and the ensuing downward spiral in economic activity. Posner concludes that the pendulum swung too far and that our financial markets need to be more heavily regulated.