The Irreversible Crisis: Five Essays

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Monthly Review Press, Jan 1, 1988 - Business & Economics - 76 pages
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This is the fifth in the important series of essays by the former editors of Monthly Review analyzing the ongoing crisis of global capitalism. Following the multiple interconnected stock market crashes of October 1987, the economies of the capitalist world entered a new and dangerous phase of the crisis that began in the 1970s with the end of the post-WWII boom. Sweezy and Magdoff argue that far from being a temporary setback, the events of late 1987 are rooted in the nature of the capital accumulation process itself and therefore unlikely to be reversed. Their argument is especially prescient when viewed in light of the financial meltdown of 2008.

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Contents

Stagnation and the Financial Explosion
7
Capitalism and the Distribution of Income and Wealth
27
The Stock Market Crash and its Aftermath
43
Copyright

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About the author (1988)

Harry Magdoff has been a co-editor of Monthly Review since 1969 and is the author of The Age of Imperialism and Imperialism: From the Colonial Age to the Present.