Michael Roberts

Abstract

The world economy is in a Long Depression. However, world capitalism will not stay in this depressed state. Eventually, probably after another slump that will destroy more capital values (the value of means of production, fictitious capital and employment), profitability for those that survive will rise sufficiently to start an upwave in investment and growth. This assumes, of course, that the class struggle does not lead to the forces of labor triumphing over capital in any major economy.

Keywords

Capitalism, Depression, Class Struggle

From: Critiquer 2017 45 (3)

Editor: Wang Yi