The Crises of Capitalism A Different Study of Political Economy

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ISBN: 9781619020061 | 1619020068
Cover: Hardcover
Copyright: 8/28/2012

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The Crises of Capitalism exists at the intersection of environmental awareness and economic theory. Sarkar challenges predominant explanations for catastrophic events like the 2008 global economic crisis, revises the classic paradigm of growth, and points to evidence of systemic economic failure. In this provocative, revolutionary criticism, Sarkar suggests that like other long-abandoned systems (with their theories), capitalism (with its theories) has reached its limits. Book jacket.

Note on the English Edition	p. xi
Preface	p. xiii
Marxist Theories of Crisis	p. 3
The Tendency of the Rate of Profit to Fall	p. 5
Dissatisfaction with the Law of the Tendency of the Rate of Profit to Fall	p. 9
The Marxist Under-Consumption Theory of Crisis	p. 13
Dissatisfaction with the Under-Consumption Theory of Crisis - The Disproportionality Theory of Crisis	p. 16
So Where Is the Final Crisis of Capitalism?	p. 19
The Controversy over the Breakdown Theory	p. 24
The Pauperization Theory	p. 26
Rosa Luxemburg: Limits to Accumulation	p. 27
Critique of Luxemburg's Theory	p. 30
The Great Crash and the Great Depression	p. 35
The 1920s	p. 35
The Boom and the Delirium	p. 37
The Crash	p. 42
The Great Depression	p. 45
Explanations	p. 49
The Saviors of Capitalism	p. 55
Keynes and the Keynesians	p. 55
Crisis of Orthodox Economics	p. 56
The Non-Marxist Crisis Management	p. 57
The Keynesian Revolution	p. 60
Keynes versus Marx	p. 74
The Rise of Keynesianism	p. 76
Schumpeter's Transfiguration of Crises: Creative Destruction	p. 83
Schumpeter's Theory of Business Cycles	p. 84
The Long Waves	p. 88
Demise of Capitalism	p. 90
Schumpeterian Economic Policy	p. 92
Stagflation-The Decline of Keynesianism and the Rise of Neo-Liberalism	p. 95
Stagflation	p. 96
The Neo-Liberal Counterrevolution	p. 99
The Theoretical Foundation of Neo-Liberal Policies - Monetarism versus Keynesianism	p. 103
Monetarist Economic Policy	p. 110
Neo-Liberalism and Supply-Side Economics	p. 112
Why Keynesianism Failed-Explanations of Professional Economists	p. 115
A Political Decision	p. 115
Is Inflation a Major or Rather a Minor Evil?	p. 119
Public Campaigns	p. 123
Some More Objective Explanations	p. 124
The Objective Compulsion to Restructure the Economy-Why Keynesianism Had to be Buried	p. 126
Macro-Politics	p. 127
The Crises in Globalized Neo-Liberal Capitalism	p. 131
From the 1970s to the End of the 1980s	p. 132
The Debt Crisis of the Developing Countries	p. 132
The Stock Exchange Bubble and the Crash of 1987	p. 140
The Turbulent 1990s	p. 146
The Neo-Liberal Democrats in the USA	p. 146
Recession and Stagnation in Japan	p. 150
Rescue Effort for Japan; About-Turn in the USA	p. 152
Crises in the "Emerging Markets"	p. 155
The Great Crisis in East Asia	p. 159
Russia	p. 171
Latin America	p. 171
Japan and the USA after the East Asian Crisis	p. 173
A Long-Drawn-Out Crash and a Collapse in the New Millennium	p. 177
A Great Crash in Installments	p. 177
The Collapse in Argentina	p. 180
Can Keynesianism Solve the Problems This Time?	p. 191
Inflation	p. 192
Had Keynesianism Really Been Buried?	p. 195
Recipes of German Keynesians Against the Stagnation	p. 199
My Doubts	p. 202
Global Keynesianism?	p. 211
Keynesians Do Not Know Any Limits to Growth	p. 215
A Half-Socialism Cannot Function	p. 218
Why Globalization Should Be Criticized	p. 221
The Theory of Comparative Advantage and the Arguments for Globalization	p. 222
The Assumptions of the Theory and the Reality	p. 226
The Political Reality	p. 227
The Economic Reality	p. 228
The Sustainability Criterion	p. 234
Aspects of the Crisis of Capitalism	p. 239
Instability of the International Financial System	p. 240
Mass Unemployment and Workers' Discontent	p. 245
Unfulfilled Promises of Innovations	p. 249
The Crisis of the Welfare State	p. 253
The Crisis of Social Democracy	p. 255
Economic Compulsions, Limitations, and Temptations	p. 260
Crisis of Capitalism in the Third World	p. 263
Growing Defensive and Compensatory Costs	p. 267
Where Does the Surplus Come From?	p. 275
The Secret of Rising Labor Productivity	p. 276
Sustainable Growth?	p. 283
Entropy, Low Entropy, and the Economic Process	p. 286
Perspectives	p. 290
The Pincer-Grip Crisis	p. 295
The Future of Capitalism	p. 301
Harry Shutt's Vision of a Regulated, Egalitarian, and Global Capitalism	p. 302
A Few Success Stories	p. 308
Can Capitalism Survive in a Contracting Economy?	p. 314
Herman Daly's Steady-State Capitalism	p. 314
Elmar Altvater's Mutually Supportive Economy	p. 318
Conclusion - Perspective on the Future	p. 322
The Global Economic Crisis of 2008-2010	p. 327
The Course of the Crisis to Date	p. 328
The Immediate Causes of the Crisis	p. 335
Superficial Explanations	p. 337
Why Did the Housing Bubble Burst?	p. 340
The Real, Deeper Cause of the Crisis - Limits to Growth	p. 341
Short-Term Perspective	p. 347
Notes	p. 355
References	p. 357
Table of Contents provided by Ingram. All Rights Reserved.

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The Crises of Capitalism A Different Study of Political Economy

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The Crises of Capitalism A Different Study of Political Economy

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