Setting out from an unapologetic Marxist perspective,
The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump.
Cuprins
The long depression of the early 21st century –
how it happened, why it happened and what happens next
Introduction: Getting depressed
Chapter 1: The Long Depression of the late 19th century
Chapter 2: The Great Depression of the mid-20th century
Chapter 3: The Great Recession of the 21st century
Chapter 4: The cycle of profit
Chapter 5: Debt matters
Chapter 6: From slump to depression
Chapter 7: America crawls
Chapter 8: Europe deflates
Chapter 9: Japan stagnates
Chapter 11: The rest cannot escape
Chapter 11: Cycles within cycles
Chapter 12: Past its use-by date?
Appendix 1: How to measure the rate of profit
Appendix 2: The failure of Keynesianism
Sources and methodology for the figures
References
Index
Despre autor
Michael Roberts has worked as an economist for over 30 years in the City of London financial centre. He is author of
The Great Recession: a Marxist view, published in 2009.
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