Profit, Accumulation, and Crisis in Capitalism: Long-term Trends in the UK, US, Japan, and China, 1855-2018

Karl Marx and Immanuel Wallerstein's hypotheses on the long-term movement of the profit rate and contributing factors in major capitalist economies are evaluated in this book, with the current decline of the profit rate in China potentially precipitating a new global crisis.

Format: Paperback / softback
Length: 168 pages
Publication date: 13 June 2022
Publisher: Taylor & Francis Ltd

Karl Marx postulated that capitalist economies exhibit a persistent trend towards declining profit rates over an extended period. In contrast, Immanuel Wallerstein proposed that the progression of capitalist development leads to an increase in labor costs, material expenses, and taxation costs. This book aims to assess the validity of Marx's and Wallerstein's hypotheses by examining the long-term trajectory of the profit rate and the underlying factors influencing it in prominent capitalist economies.

Throughout the twentieth century, leading capitalist economies achieved significant success in stabilizing the profit rate. Nevertheless, the recent decline in the profit rate in China has the potential to trigger a new global crisis within the capitalist system. As economic growth slows down in all major capitalist economies, Marx's original hypothesis may be corroborated by the global economic events of the twenty-first century.

Weight: 308g
Dimension: 216 x 138 (mm)
ISBN-13: 9781032337074