Capital in Crisis : Causes, Implications and Proletarian Response
Crises are endemic to capitalism, but each particular crisis has its distinctive features and implications. The present one has its roots
“For many a decade past, the history of industry and commerce is but the history of the revolt of modern productive forces against modern conditions of production, against the property
A total meltdown has been prevented – well, for now. But thanks to highly efficient networking by IT-enabled services and thorough integration of financial markets, the contagion spread at electronic
Today it is no longer a story of a mere "credit lock" or problems in the “new” or “FIRE” sectors; the rot has already reached the roots of old economy.
Before we proceed, however, we should recall that Karl Marx had to take leave of the international proletariat before he could systematically work up a comprehensive theory of capitalist crisis.
Do the theoretical expositions in Capital tally with the actual working of capitalism today?
Behind the familiar crisis symptoms – we learned in our brief dialogue with Marx – lurks a
The most important message from the unprecedented financial catastrophe and its aftermath is that global capitalism’s strategic response to the crisis of 1970s has failed. That was a three-pronged strategy
2007
February–March: Subprime market in trouble with several subprime lenders declaring bankruptcy, announcing significant losses, or putting themselves up for sale.
March 6: Ben Bernanke, quoting Alan Greenspan, warns that the Government
Orange County
On December 6 1994, Orange County, a prosperous district in California, declared bankruptcy after suffering losses of around $1.6 billion from a wrong-way bet on interest rates in one
In many ways the current crisis constitutes the second -- and higher -- stage of the one that appeared with the "dot-com bubble burst". And it is not without
