Marxist economic theories and the Great Recession

Alex Palludeto and Rogerio P. de Andrade ()

Brazilian Journal of Political Economy, 2017, vol. 37, issue 3, 527-550

Abstract: This review paper examines some of the main Marxist-inspired interpretations of the Great Recession that were published in the form of books. From the broad set of publications on the subject, the following works were analyzed: The Great Financial Crisis, by John Bellamy Foster and Fred Magdoff (2009); The Enigma of Capital, by David Harvey (2011), originally published in 2010; The Crisis of Neoliberalism, by Gérard Duménil and Dominique Lévy (2011); and The Failure of Capitalist Production, by Andrew Kliman (2012). It is argued that the Marxist debate about the ultimate causes of the Great Recession can be systematized from the following cleavage: 1) on the one hand, the authors who attribute the turbulence to the specific political/economic/institutional form assumed by the capitalist system over the last decades; 2) on the other hand, those who interpret the recent crisis as a manifestation of capitalist dynamics in general - and not the particular form that it supposedly assumes. While Foster & Magdoff (2009), Harvey (2011) and Duménil & Lévy (2011) belong to the first group, Kliman (2012) is a representative of the second strand. JEL Classification: E11; G01.

Keywords: Marxist theories of crises; Great Recession; neoliberalism; rate of profit. (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
https://centrodeeconomiapolitica.org.br/repojs/ind ... article/view/145/134 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:37:y:2017:i:3:p:527-550:id:145

Access Statistics for this article

More articles in Brazilian Journal of Political Economy from Center of Political Economy
Bibliographic data for series maintained by Brazilian Journal of Political Economy (Brazil) ().