Profit, accumulation and crisis in capitalism : long-term trends in UK, US, Japan and China, 1855-2018 /
Li, Minqi,
Profit, accumulation and crisis in capitalism : long-term trends in UK, US, Japan and China, 1855-2018 / Minqi Li. - 1 online resource. - Routledge frontiers of political economy .
"Karl Marx hypothesized that there is a long-term tendency for the profit rate to fall in capitalist economies. Immanuel Wallerstein hypothesized that capitalist development tends to drive up labor cost, material cost, and taxation cost. This book evaluates Marx's and Wallerstein's hypotheses by studying the long-term movement of the profit rate and contributing factors in major capitalist economies. During the 20th century, leading capitalist economies largely succeeded in stabilizing the profit rate. However, the current decline of the profit rate in China may precipitate the global capitalist economy into a new major crisis. As economic growth slows down in all major capitalist economies, Marx's original hypothesis may be verified by the global economic events in the 21st century"--
9780429058813 0429058810 9780429608292 0429608292 9780429602771 0429602774 9780429597251 0429597258
Capitalism.
Profit.
Gross national product.
Capitalism--History.--Great Britain
Capitalism--History.--United States
Capitalism--History.--Japan
Capitalism--History.--China
BUSINESS & ECONOMICS / Economics / General
HB501
335.4/12
Profit, accumulation and crisis in capitalism : long-term trends in UK, US, Japan and China, 1855-2018 / Minqi Li. - 1 online resource. - Routledge frontiers of political economy .
"Karl Marx hypothesized that there is a long-term tendency for the profit rate to fall in capitalist economies. Immanuel Wallerstein hypothesized that capitalist development tends to drive up labor cost, material cost, and taxation cost. This book evaluates Marx's and Wallerstein's hypotheses by studying the long-term movement of the profit rate and contributing factors in major capitalist economies. During the 20th century, leading capitalist economies largely succeeded in stabilizing the profit rate. However, the current decline of the profit rate in China may precipitate the global capitalist economy into a new major crisis. As economic growth slows down in all major capitalist economies, Marx's original hypothesis may be verified by the global economic events in the 21st century"--
9780429058813 0429058810 9780429608292 0429608292 9780429602771 0429602774 9780429597251 0429597258
Capitalism.
Profit.
Gross national product.
Capitalism--History.--Great Britain
Capitalism--History.--United States
Capitalism--History.--Japan
Capitalism--History.--China
BUSINESS & ECONOMICS / Economics / General
HB501
335.4/12