Profit, Accumulation, and Crisis in Capitalism
Long-term Trends in the UK, US, Japan, and China, 1855–2018
Seiten
2020
Routledge (Verlag)
978-0-367-17978-6 (ISBN)
Routledge (Verlag)
978-0-367-17978-6 (ISBN)
By studying Marx's theory predicted long-term movement of the profit rate and its impact on capital accumulation, this book may provide insight into whether the Chinese economy is heading into a crisis as China’s profit rate approaches levels that historically were associated with major crises in other capitalist economies.
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.
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.
Minqi Li is Professor of Economics at The University of Utah. He is the author of The Rise of China and the Demise of the Capitalist World Economy; Peak Oil, Climate Change and the Limits to China’s Economic Growth; and China and the 21st Century Crisis.
1. Capitalism and the Profit Rate 2. Profit, Accumulation and Crisis in British Capitalism, 1855–2018 3. Profit, Accumulation and Crisis in American Capitalism, 1900–2018 4. Profit, Accumulation and Crisis in Japanese Capitalism, 1955–2017 5. Profit, Accumulation and (the Coming) Crisis in Chinese Capitalism, 1980–2018 6. China and the Global Labor Arbitrage 7. The Past and the Future of the Profit Rate, 1855–2050
| Erscheinungsdatum | 18.02.2020 |
|---|---|
| Reihe/Serie | Routledge Frontiers of Political Economy |
| Zusatzinfo | 12 Tables, black and white; 53 Line drawings, black and white; 53 Illustrations, black and white |
| Verlagsort | London |
| Sprache | englisch |
| Maße | 138 x 216 mm |
| Gewicht | 420 g |
| Themenwelt | Wirtschaft ► Allgemeines / Lexika |
| Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie | |
| Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik | |
| ISBN-10 | 0-367-17978-4 / 0367179784 |
| ISBN-13 | 978-0-367-17978-6 / 9780367179786 |
| Zustand | Neuware |
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