Profit, accumulation, and crisis in capitalism: long-term trends in the UK, US, Japan, and China, 1855-2018

"Karl Marx hypothesized that there is a long-term tendency for the profit rate to fall in capitalist economies. Immanuel Wallerstein hypothesized that capitalist development tends to drive up labor cost, material cost, and taxation cost. This book evaluates Marx's and Wallerstein's hy...

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Bibliographische Detailangaben
1. Verfasser: Li, Minqi 1969- (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: London ; New York Routledge 2020
Schriftenreihe:Routledge frontiers of political economy
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Online-Zugang:FUBA1
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Zusammenfassung:"Karl Marx hypothesized that there is a long-term tendency for the profit rate to fall in capitalist economies. Immanuel Wallerstein hypothesized that capitalist development tends to drive up labor cost, material cost, and taxation cost. This book evaluates Marx's and Wallerstein's hypotheses by studying the long-term movement of the profit rate and contributing factors in major capitalist economies. During the 20th century, leading capitalist economies largely succeeded in stabilizing the profit rate. However, the current decline of the profit rate in China may precipitate the global capitalist economy into a new major crisis. As economic growth slows down in all major capitalist economies, Marx's original hypothesis may be verified by the global economic events in the 21st century"--
Beschreibung:1 Online-Ressource (xiii, 154 Seiten)
ISBN:9780429058813
9780429608292
9780429602771
DOI:10.4324/9780429058813

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