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- Title
Marxism, Crisis Theory and the Crisis of the Early 21st Century.
- Authors
TABB, WILLIAM K.
- Abstract
The article discusses the theories of crisis articulated by 19th-century German economist Karl Marx, and how they might apply to the global economic crisis of the early 21st century. The analysis of the economic system of capitalism in Marx's main work, "Capital" (Das Kapital) is discussed, especially its analyses of the tendency toward underconsumption and falling rates of profit, leading to repeated economic crises. Also discussed is the concept of "financialization" and the tendency of financial markets to dominate the global economy.
- Subjects
FINANCIAL crises; MARX, Karl, 1818-1883; MARXIAN economics; MARXIST analysis; HISTORY of capitalism; GLOBAL Financial Crisis, 2008-2009
- Publication
Science & Society, 2010, Vol 74, Issue 3, p305
- ISSN
0036-8237
- Publication type
Article
- DOI
10.1521/siso.2010.74.3.305