Profit, Accumulation, and Crisis in Capitalism: Long-term Trends in the UK, US, Japan, and China, 1855–2018 (Routledge Frontiers of Political Economy)
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- Synopsis
- 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 twentieth 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 twenty-first century.
- Copyright:
- 2020
Book Details
- Book Quality:
- Publisher Quality
- Book Size:
- 154 Pages
- ISBN-13:
- 9780429602771
- Related ISBNs:
- 9780429058813, 9780367179786, 9781032337074
- Publisher:
- Taylor and Francis
- Date of Addition:
- 12/09/23
- Copyrighted By:
- Minqi Li, The right of Minqi Li to be identified as author of this work has been asserted by him in accordance with sections
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.