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The Failure of Capitalist Production

2012 Business cycles
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Release : 2012
Genre : Business cycles
Kind : eBook
Book Rating : 208/5 ( reviews)

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Book Synopsis The Failure of Capitalist Production by : Andrew Kliman

Download or read book The Failure of Capitalist Production written by Andrew Kliman. This book was released on 2012. Available in PDF, EPUB and Kindle. Book excerpt: "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.

Business as Usual

2011-05-15 Business & Economics
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Release : 2011-05-15
Genre : Business & Economics
Kind : eBook
Book Rating : 823/5 ( reviews)

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Book Synopsis Business as Usual by : Paul Mattick

Download or read book Business as Usual written by Paul Mattick. This book was released on 2011-05-15. Available in PDF, EPUB and Kindle. Book excerpt: The recent global economic downturn has affected nearly everyone in every corner of the globe. Its vast reach and lingering effects have made it difficult to pinpoint its exact cause, and while some economists point to the risks inherent in the modern financial system, others blame long-term imbalances in the world economy. Into this debate steps Paul Mattick, who, in Business as Usual, explains the global economic downturn in relation to the development of the world economy since World War II, but also as a fundamental example of the cycle of crisis and recovery that has characterized capitalism since the early nineteenth century. Mattick explains that today’s recession is not the result of a singular financial event but instead is a manifestation of long-term processes within the world economy. Mattick argues that the economic downturn can best be understood within the context of business cycles, which are unavoidable in a free-market economy. He uses this explanation as a springboard for exploring the nature of our capitalist society and its prospects for the future. Although Business as Usual engages with many economic theories, both mainstream and left-wing, Mattick’s accessible writing opens the subject up in order for non-specialists to understand the current economic climate not as the effect of a financial crisis, but as a manifestation of a truth about the social and economic system in which we live. As a result the book is ideal for anyone who wants to gain a succinct and jargon-free understanding of recent economic events, and, just as important, the overall dynamics of the capitalist system itself.

A Failure of Capitalism

2011-05-31 Business & Economics
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Release : 2011-05-31
Genre : Business & Economics
Kind : eBook
Book Rating : 294/5 ( reviews)

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Book Synopsis A Failure of Capitalism by : Richard A. Posner

Download or read book A Failure of Capitalism written by Richard A. Posner. This book was released on 2011-05-31. Available in PDF, EPUB and Kindle. Book excerpt: 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 1920's, 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. Read Richard Posner's blog, and his latest article in The Atlantic.

Reclaiming Marx's Capital

2007 Political Science
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Release : 2007
Genre : Political Science
Kind : eBook
Book Rating : 528/5 ( reviews)

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Book Synopsis Reclaiming Marx's Capital by : Andrew Kliman

Download or read book Reclaiming Marx's Capital written by Andrew Kliman. This book was released on 2007. Available in PDF, EPUB and Kindle. Book excerpt: Attempts to reclaim Marx's Capital from the myth of inconsistency. This book is intended for non-specialist readers, and shows that the inconsistencies are actually caused by misinterpretation; the temporal single-system interpretation eliminates all of the alleged inconsistencies.

Why Capitalism?

2012-02-20 Business & Economics
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Release : 2012-02-20
Genre : Business & Economics
Kind : eBook
Book Rating : 574/5 ( reviews)

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Book Synopsis Why Capitalism? by : Allan H. Meltzer

Download or read book Why Capitalism? written by Allan H. Meltzer. This book was released on 2012-02-20. Available in PDF, EPUB and Kindle. Book excerpt: Why Capitalism? addresses the current debate among politicians, scholars in the political sciences, and general readers on the benefits and the supposed shortcomings of capitalism.

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