Marxism and theory of crises

Take over the banks! Matthew Wed, 07/11/2012 - 12:47

Five years ago, the demand for the public ownership of the banks was the preserve of a small minority of socialists. Today it follows logically from the exposed venality of the banking system.

There have now been three waves of banking failure in the recent past. Socialists should use these events to argue relentlessly for state ownership and democratic control of the banking system.

Socialists and crises Matthew Wed, 05/02/2012 - 07:36

Recent capitalist history has thrown up sharper economic declines and higher levels of unemployment than the ones we are currently witnessing in Greece and Spain. It’s just that they haven’t occurred in nice Mediterranean countries that Britons visit for beach holidays and long weekends.

Marxist insights on crisis martin Mon, 11/14/2011 - 22:42

A particularly interesting session at the Historical Materialism conference in London on 10-13 November 2011 heard four contributions on Marxist theories of crisis and the current crisis.

These are the abstracts supplied by three of the presenters.

Michel Husson: Towards a chaotic regulation

Thousands turn out to debate revolution martin Tue, 04/27/2010 - 19:11

Not only the scheduled lecture theatre, but also an overflow theatre connected by video link, were crammed full when David Harvey spoke at the London School of Economics on 26 April about his latest book, The Enigma of Capital, a book which analyses the current crisis and concludes with a call for "revolution" to "dispossess" the capitalist class.

Packed lecture hall for call to anti-capitalist revolution

Submitted by martin on Mon, 04/26/2010 - 23:26
Harvey

Not only the scheduled lecture theatre, but also an overflow theatre connected by video link, were crammed full when David Harvey spoke at the London School of Economics on 26 April about his latest book, The Enigma of Capital, a book which concludes with a call for "revolution" to "dispossess" the capitalist class.

How economic crises shape politics AWL Thu, 07/09/2009 - 18:16

The reciprocal relation between boom and crisis in economy and the development of revolution is of great interest to us not only from the point of theory but above all practically.

Many of you will recall that Marx and Engels wrote in 1851 – when the boom was at its peak – that it was necessary at that time to recognize that the Revolution of 1848 had terminated, or, at any rate, had been interrupted until the next crisis.

Engels wrote that while the crisis of 1847 was the mother of revolution, the boom of 1849-51 was the mother of triumphant counter-revolution.

The thesis of "ruinous competition" martin Tue, 04/21/2009 - 08:24

1 - Ruinous competition

The first service of Robert Brenner's book-length study of The Economics of Global Turbulence (New Left Review no.229) is a demolition of the myth of unparallelled US prosperity in the 1990s. Output, investment, and productivity all grew unusually slowly for a boom phase in the regular boom-slump cycle. Wages mostly stagnated. The limited advances in profit rates, and their exaggerated reflection in the gaudy rise of the stock market, were only the flipside of a punishing war against labour, described well by Brenner.

An exchange on crises and the "Tendency of the Rate of Profit to Fall" martin Sun, 11/16/2008 - 12:54

Criticism by Phil Ferguson of the notes Marx on capitalist crisis, and a response by Martin Thomas.

This is a very strange analysis.