This site contains the full scanned text of Ricardo, Marx, Sraffa: the Langston Memorial Volume, edited by Ernest Mandel and Alan Freeman and published by Verso books in 1984 (distributed in the USA in 1985 by Schocken Books). The texts were scanned by Mike Welte, to whom we are very grateful. The text has been optically recognised and is searchable for the most part.
The book is out of print and Alan Freeman has been granted permission by the copyright owners to re-publish it here. You may download and freely distribute it but you may not use it for commercial gain or restrict its public availability. The original page numbering has been retained. Please cite it as follows:
Teoria do Valor Trabalho e Crise
Prof. Dr. Ricardo Antunes
Palestra proferida na UnB dia 19 de outubro de 2012, no período da tarde, na mesa redonda: Teoria do Valor Trabalho e Crise durante o I Encontro Internacional Teoria do Valor Trabalho e Ciências Sociais. Realização: Grupo de Estudos e Pesquisa sobre o Trabalho, Departamento de Sociologia/UnB.
Panel on ‘The Crisis, Five Years On‘ at Left Forum, New York June 2013. Organised by North Star. Three presenters: Doug Henwood, Radhika Desai, and Leo Panich, followed by discussion and responses from the presenters.
This paper is about the history of crisis theories. Broadly speaking, the term “crisis” as used here refers to a generalized set of failures in the economic and political relations of capitalist reproduction. In particular, the crises we seek to examine are those towards which the system is internally driven, by its own principles of operation. As we shall see, it is in the nature of capitalist production to be constantly exposed to a variety of internally and externally generated disturbances and dislocations. But only at certain times do these “shocks” set off general crises. When the system is healthy, it rapidly revives from all sorts of setbacks; when it is unhealthy, practically anything can trigger its collapse. What we seek to examine is different explanations of how and whyy the system periodically becomes unhealthy.
I Reproduction and Crisis
Consider how peculiar capitalist society is. It is a complex, interdependent social network, whose reproduction requires a precise pattern of complementarity among differen productive activities: and yet these activities are undertaken by hundreds of thousands of individual capitalists who are only concerned with their private greed for profit. Is is a class structure, in which the continued existence of the capitalist class requires the continued existence of the working class: and yet no blood lines, no tradition, no religious principle announces who is to rule and who is to be ruled. Is is a cooperative human comunity, and yet it ceaselessly pits each against the other: capitalist against worker, but also capitalist against capitalist and worker against worker.
“From the Oil Crisis to the Great Recession: Five crises of the world economy”: J. A. Tapia Granados
ABSTRACT — This article makes the case that the global economy has gone through five crises since the 1970s to the present. This implies not only that the world economy is a real entity, but also that the usual view that poses national economies as units of economic analysis is an approach with major limitations. The paper discusses the concept of “economic crisis” and provides data indicating that the world economy, not national economies, is the major unit to be analysed when trying to understand the economic reality of our time, and particularly the reality of crises. These crises are discrete, countable phenomena, distinctive states of an entity that can be properly called world economy, or world capitalism. Data on capital formation, on growth of the world output, of monetary aggregates, of unemployment rates and on industrial activity indicate five major “dips” of the global economy, i.e., world recessions, in (i) the mid 1970s, (ii) the early 1980s, (iii) the early 1990s, (iv) the early 2000s, and (v) the Great Recession that provisionally can be dated 2007-2009. To a large extent business cycle chronologies of national economies such as those produced by the NBER, the OECD, or other institutions are largely consistent with these five crises of the world economy which, obviously, had different manifestations in different nations and economic regions.