Category Archives: Book contents

Afterword

Afterword: Fighting back The crisis threatens to impose huge burdens upon the working class. It is inevitable that there will be a fight back. To be effective the labour movement needs a correct analysis of the situation it faces and, … Continue reading

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Part 7

Part 7: Economic perspectives Over the course of the narrative we have identified two distinct periods since the Second World War. The first was the golden age of the post-War boom which came to an end with the recession of … Continue reading

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Part 6

Part 6: What can the state do about the crisis? Now we have reviewed the Marxist theory of crisis and compared it against the reality of the Great Recession, we need to look at how the crisis impacts on the … Continue reading

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Part 5

Part 5: Marxism and the Great Recession Once Marx has explained how the movement in the rate of profit is the mainspring of economic crisis (Chapter 3.7), he can introduce the ancillary factors that play their role in preparing for … Continue reading

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Part 4

Part 4: Capitalism and finance The previous Part dealt mainly with the production of surplus value, the accumulation of capital and the tendency for the capitalist system to go into crisis. The counterparts to these processes in the ‘real’ economy … Continue reading

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Part 3

Part 3: The accumulation of capital The purpose of this Part is to show the explanatory power of Marxist analysis in looking at the dynamics of capitalism, including Marx’s theory of crisis. Then we can investigate how far Marx’s crisis … Continue reading

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Part 2: Previou…

Part 2: Previous capitalist crises Our contention is that, while every crisis is a unique historical event, there is also a common thread and pattern to all of them. We compare the similarities and differences here. Chapter 2.1: The Great … Continue reading

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Part 1 Chapter 8

Chapter 1.8: The Euro crisis The Great Recession put world currencies in a spin. The stresses and strains of crisis not only cause the bosses to attack ‘their own’ working class all the more strongly; they also bring into the … Continue reading

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Part 1 Chapter 7

Chapter 1.7: Fiscal crisis of the state All over the world the crisis of capitalism has produced a fiscal crisis of the state. Apart from the direct cost of bailing out the banks, the economic downturn means the government has … Continue reading

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Part 1 Chapter 6

Chapter 1.6: Into the abyss? For one year, from early 2008 to the first quarter of 2009, all the signs pointed to a crisis as severe as that of 1929-33. World trade was falling just as fast as it had … Continue reading

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