2 ms·

I dunno if there's a Marxist interpretation of recessions. Iirc there's something somewhere about recessions leading to socialist revolutions, but I don't remem

I dunno if there's a Marxist interpretation of recessions. Iirc there's something somewhere about recessions leading to socialist revolutions, but I don't remember anything about why they happen. I don't think das capital has anything. I think there's very little Marxist economics left, in the technical sense. Marx is pretty early.

s_kilk 9y ago
There's a great book called The Long Depression which offers a Marxian analysis of these boom bust cycles. It basically boils down to Marx's Law of Profitability, where the rate of profitability tends to fall as investment in fixed capital increases: https://en.m.wikipedia.org/wiki/Tendency_of_the_rate_of_profit_to_fall https://en.m.wikipedia.org/wiki/Tendency_of_the_rate_of_prof...