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Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump.
Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump.
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Autorenporträt
Michael Roberts has worked as an economist for over 30 years in the City of London financial centre. He is author of The Great Recession: a Marxist view, published in 2009.
Inhaltsangabe
The long depression of the early 21st century - how it happened, why it happened and what happens next Introduction: Getting depressed Chapter 1: The Long Depression of the late 19th century Chapter 2: The Great Depression of the mid-20th century Chapter 3: The Great Recession of the 21st century Chapter 4: The cycle of profit Chapter 5: Debt matters Chapter 6: From slump to depression Chapter 7: America crawls Chapter 8: Europe deflates Chapter 9: Japan stagnates Chapter 11: The rest cannot escape Chapter 11: Cycles within cycles Chapter 12: Past its use-by date? Appendix 1: How to measure the rate of profit Appendix 2: The failure of Keynesianism Sources and methodology for the figures References Index
The long depression of the early 21st century - how it happened, why it happened and what happens next Introduction: Getting depressed Chapter 1: The Long Depression of the late 19th century Chapter 2: The Great Depression of the mid-20th century Chapter 3: The Great Recession of the 21st century Chapter 4: The cycle of profit Chapter 5: Debt matters Chapter 6: From slump to depression Chapter 7: America crawls Chapter 8: Europe deflates Chapter 9: Japan stagnates Chapter 11: The rest cannot escape Chapter 11: Cycles within cycles Chapter 12: Past its use-by date? Appendix 1: How to measure the rate of profit Appendix 2: The failure of Keynesianism Sources and methodology for the figures References Index
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