As many radicals know, Marx had a theory of the mechanisms of a capitalist crisis. What many don’t know is that Marxists after Marx argued for at least four theories of capitalist crisis.
In this article Roberts contrasts his own tendency of the rate of profit to fall with an ‘overproduction’ theory of crisis. This is not an overly technical article and does not contain mathematics. What is important to us is to see how rich and serious these theories are in trying to explain why capitalism will eventually collapse.
Read on Michael Robert’s Blog
