Multiple Sites and Comprehensive Crisis

David Laibman
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David Laibman: City University of New York

Chapter 11 in Capitalist Macrodynamics, 1997, pp 117-130 from Palgrave Macmillan

Abstract: Abstract Capitalist secular crisis can, as we have seen, be viewed as a confrontation between an immanent critical tendency and a set of barriers. In the last chapter, this conception was extended to include the possibility of more than one critical tendency. We examined two: the rising composition of capital, and the rising share of government production in total production. (An additional critical tendency arising from the evolving financial relation between inside and outside capitals may be posited for future investigation.) The identification of multiple critical tendencies enriches the theory of secular crisis; in particular, it provides a possible theoretical foundation for stages theory.

Keywords: Real Wage; Central Site; Effective Demand; Critical Tendency; Real Wage Rate (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37534-5_11

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DOI: 10.1057/9780230375345_11

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