M. E. G. Smith Global Capitalism in Crisis

ISBN 13: 9789350021736

Global Capitalism in Crisis

 
9789350021736: Global Capitalism in Crisis
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Offering a Marxist analysis of the origins, implications and scope of the global capitalist crisis, based on a theoretical defence and empirical consideration of Karl Marx's law of the falling rate of profit, Smith makes a compelling case that capitalism has reached its historical limits. The current crisis needs to be understood as the inevitable outcome of capitalism's long-term dynamics, rather than as an aberration. The capitalist profit system has been living, quite literally, on borrowed time. For three decades, only the explosive growth of fictitious capital ,the emergence of a debt culture in the capitalist West and the increasing immiseration of working people throughout the world have kept at bay the spectre of a deep global depression.

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About the Author:

Murray E.G. Smith is a professor of sociology and labor studies at Brock University in Ontario. He is the author of Early Modern Social Theory: Selected Interpretive Readings. He lives in St. Catharines, Ontario.

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9789350021743: Global Capitalism in Crisis Karl Marx and the Decay of the Profit System

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