Long Waves of Capitalist Development


Long Waves of Capitalist Development
Ernest Mandel


This revised and expanded edition seeks to explain the underlying determinants of the booms and slumps of the trade cycle. It first establishes that there have indeed been 20- to 25-year-long waves of capitalist expansion and contraction, and that these have persisted in the period since World War II. The book then assembles evidence to show that while broad tendencies in the rate of profit have been decisive in triggering downturns, the ingredients necessary for a new upswing are, by contrast, generally political and extra-economic in character. It thereby demonstrates the falsity of no-liberal doctrines, according to which the free market will itself generate a new formula for balanced and sustainable expansion. This study not only offers an analysis of the ills that have affliced contemporary capitalist economies, but also surveys, and takes forward, one of the classical debates of modern economic history. Ernest Mandel is the author of "The Formation of the Economic thought of Karl Marx", "The Second Slump", "The Making of the Second Cold War", "Late Capitalism" and "Beyond Perestroika".

Outras Informações

Editora: Verso Books
ISBN: 185984037X
Nº de Páginas: 140
Ano da 1ª Edição: 1980

Sem comentários: