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Long Waves of Capitalist Development - A Marxist Interpretation (Paperback, 0th edition)
Loot Price: R449
Discovery Miles 4 490
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Long Waves of Capitalist Development - A Marxist Interpretation (Paperback, 0th edition)
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Loot Price R449
Discovery Miles 4 490
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In this revised and expanded edition of Long Waves of Capitalist
Development, Ernest Mandel seeks to explain the underlying
determinants of the booms and slumps of the trade cycle. Mandel
first establishes that there have indeed been twenty- to
twenty-five-year-long waves of capitalist expansion and
contraction-and that these have persisted in the period since World
War II. He 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. He
thereby demonstrates the falsity of neo-liberal doctrines,
according to which the free market will itself generate a new
formula for balanced and sustainable expansion. Long Waves of
Capitalist Development not only offers a penetrating analysis of
the ills that have afflicted contemporary capitalist economies but
also surveys, and takes forward, one of the classical debates of
modern economic history.
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