[P2P-F] Fwd: New book: "The Failure of Capitalist Production"

[Michel Bauwens]

---------- Forwarded message ----------
From: seth weiss <weiss_seth at hotmail.com>
Date: Sat, Nov 12, 2011 at 11:50 AM
Subject: New book: "The Failure of Capitalist Production"
To: newspacegroup newspacegroup <newspacegroup at lists.mutualaid.org>


 New SPACE friends, An important new book by Andrew Kliman has just been
published. Please have a look! Take care, Seth



*THE FAILURE OF CAPITALIST PRODUCTION*

*Underlying Causes of the Great Recession*


by Andrew Kliman


Paperback / 256 pp. / ISBN-13: 978-0745332390.  Published by Pluto Press,
November 2011.

*
*

*Only $23.40 from MHI + $3.60 shipping in U.S. -- below Amazon's price
(foreign purchasers: please contact MHI for rates).*

*Order here: http://www.marxisthumanistinitiative.org/
economic-crisis/new-book-the-failure-of-capitalist-production.html*


The reasons behind the global financial crisis and the Great Recession are
the subject of much debate. This is the first book to conclude, on the
basis of in-depth analyses of official U.S. data, that Marx’s crisis theory
can explain these events.

Marx believed that the rate of profit has a tendency to fall, leading to
economic crises and recessions. Many economists, Marxists among them, have
dismissed this theory out of hand, but Andrew Kliman’s careful data
analysis shows that the rate of profit did indeed decline after the
post-World War II boom. He shows that free-market policies have failed to
reverse that decline. This fall in profitability led to sluggish investment
and economic growth, mounting debt problems, desperate attempts of
governments to fight these problems by piling up even more debt –
ultimately ending in the Great Recession.

Kliman's conclusion is simple but shocking: short of socialist
transformation, the only way to escape the “new normal” of a stagnant,
crisis-prone economy is to restore profitability through full-scale
destruction of the value of existing capital assets, something not seen
since the Depression of the 1930s. .**

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*

*Endorsements:*

“Clear, rigorous and combative. Kliman demonstrates that the current
economic crisis is a consequence of the fundamental dynamic of capitalism,
unlike the vast bulk of superficial contemporary commentary that passes for
economic analysis.” *
**– Rick Kuhn, Deutscher Prize winner, Reader in Politics at the Australian
National University*

“Among the myriad publications on the present day crisis, this work stands
out as something unusual. Kliman cogently argues against the view that the
crisis is ultimately rooted in financialization. He is an excellent
theorist, and an equally excellent analyst of empirical data.” *
**– Paresh Chattopadhyay, Université du Québec à Montréal*

“One of the very best of the rapidly growing series of works seeking to
explain our economic crisis. … The scholarship is exemplary and the writing
is crystal clear. Highly recommended!”
*– Professor Bertell Ollman, New York University, author of Dance of the
Dialectic*

*
*

*Chapters:*

1. Introduction

2. Profitability, the Credit System, and the “Destruction of Capital”

3. Double, Double, Toil and Trouble: Dot-com boom and home-price bubble

4. The 1970s––Not the 1980s––as Turning Point

5. Falling Rates of Profit and Accumulation

6. The Current-cost “Rate of Profit”

7. Why the Rate of Profit Fell

8.The Underconsumptionist Alternative

9. What Is to Be Undone?



For a *synopsis* of chapters, and *excerpts* from the book, please visit *
http://www.marxisthumanistinitiative.org/economic-crisis/new-book-the-
failure-of-capitalist-production.html*

*
*

*Podcast (audio) interview*:  Kliman and host Doug Lain discuss the book
(causes of the Great Recession, inequality, underconsumptionism, the
#Occupy movement, and more) on Diet Soap Podcast #125: Crisis and
Capitalism’s System Failure (70 mins.), http://dietsoap.podomatic.com .





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