Edited by Guglielmo Carchedi and Michael Roberts
Most mainstream economists view capitalism’s periodic breakdowns as nothing more than temporary aberrations from an otherwise unbroken path toward prosperity. For Marxists, this fundamental flaw has long been acknowledged as a central feature of the free-market system. This ground-breaking volume brings together Marxist scholars from around the world to offer an empirically grounded defence of Marx’s law of profitability and its central role in explaining capitalist crises.