Os economistas marxistas portugueses e a teoria das crises económicas

Ana Bela Nunes and Carlos Bastien

No 2015/57, Working Papers GHES - Office of Economic and Social History from ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa

Abstract: The aim of this paper is to acknowledge the reflections of the Portuguese Marxist economists on the theory of economic crises. Although the references to Marx date back to the 1850s, both theoretical approaches and applied studies under this perspective were relatively late and superficial in Portugal. Relative backwardness of the Portuguese economy and other specificities to the Portuguese society were detrimental to the intellectual interest in the theory of economic crises. Anyway the approach to this subject by Marxist economists reveals the existence of three type of theories: the theory of the crisis in the business cycle, addressed from three different perspectives (the underconsumption theories, the disproportionality theories and the fall in the rate of profit theories); the theory of the crisis in the long cycle and the theory of the systemic crisis. Only after the Second World War II did the first relevant studies emerged and only after the 1970s did the academy appear sensitive to the subject. Meanwhile, the context of the late economic and financial crisis, that set in after 2007- 2008, resumed the topicality of the theory of economic crises, also from this heterodox perspective.

Keywords: History of Economic Thought; Marxism; Crisis. JEL classification: B2, B5 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-his, nep-hme, nep-hpe and nep-pke
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