Thursday, August 16, 2012

Ten views on the causes of the crisis

We posted a piece by Michael Roberts in July, The Rate of Profit is Key  which was part of a series by ten economists on the cause of the crisis.  Some readers asked for a link to the other contributions.  Michael has now posted a pdf link to them below.


The URPE has now kindly sent me the ten contributions that it invited from radical economists of 1000 words or less on the causes and nature of the current economic crisis, including my own (see my post, The rate of profit is key, 26 July 2012).  These were presented to the URPE/Occupy summer conference last week in New York state.  I thought readers of this blog might like to take a look.  So here is a pdf of the contributions.  CrisisSummaries

A brief glance puts the contributions of Kliman, Moseley and Shaikh closest to mine.  A small debate among the contributors has followed, mainly between the girls and boys of the rate of the profit as the main or underlying cause of capitalist crisis and those who reckon that it’s a problem of ‘realisation’ of value.  I may comment  on this debate in a future post if it can advance our understanding of where the capitalist economy is going – and even on what to do!

Michael Roberts

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