Feel like I've been hearing this more and more over the last year; I tried to read a piece on it but I could only really halfway get to understanding... Anyone have any good resources to learn more about these in-depth? Or examples from the last year of those contradictions in action would be helpful too.

  • vsaush [he/him]
    ·
    4 years ago

    Michael Roberts in the Long Depression makes a pretty good defence of the idea that capitalist crises all have roots in low profitability. Most economists think crises are caused by undercomsumption (but Marx calls this kind of thinking tautological in Vol 3, I think?) and those that think crises are caused by overproduction (which Marx also wrote about in Capital but said the main problem was surplus value in relation to overproduction). Marx's theories on capitalist crisis is all in Capital, mainly vol 3 and Vol 4. And the TRPF has been empirically validated over the last 160 years of economic evolution.