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Andrew Kliman

ANDREW KLIMAN AT BOOKMARKS BOOKSHOP

PRESENTS

The Failure of Capitalist Production
with Andrew Kliman
5 March, 6.30pm £2* (refreshments inc)

The recent financial crisis and Great Recession have been analysed endlessly but this is the first book to conclude, on the basis of in-depth analyses of official US data, that Marx’s crisis theory can explain these events.

Kliman’s conclusion is simple but shocking: short of socialist transformation, the only way to escape the stagnant, crisis-prone economy is to restore profitability through full-scale destruction of existing wealth, something not seen since the Depression of the 1930s.

Venue: Bookmarks Bookshop, 1 Bloomsbury Street, WC1B 3QE
*£2 redeemable against any purchase on the night

Please contact us to reserve a place, 020 7637 1848: events@bookmarks.uk.com

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**END**

 

‘Maximum levels of boredom

Disguised as maximum fun’

Cold Hands & Quarter Moon, ‘Stagnant’ at: http://www.myspace.com/coldhandsmusic (recording) and http://www.youtube.com/watch?v=GLjxeHvvhJQ (live, at the Belle View pub,Bangor, northWales)  

 

‘Stagnant’ – a new remix and new video by Cold Hands & Quarter Moon: http://www.youtube.com/watch?v=YkP_Mi5ideo  

‘Cheerful Sin’ – a song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

 

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The Flow of Ideas: http://www.flowideas.co.uk

Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

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Andrew Kliman

THE FAILURE OF CAPITALIST PRODUCTION: UNDERLYING CAUSES OF THE GREAT RECESSION

The Failure of Capitalist Production: Underlying Causes of the Great Recession
Andrew Kliman

Paperback | 9780745332390 | £17.99 / $29
Hardback | 9780745332406 | £60 / $95

For more information or to buy the book visit: http://www.plutobooks.com/display.asp?K=9780745332390

‘One of the very best of the rapidly growing series of works seeking to explain our economic crisis…The scholarship is exemplary and the writing is crystal clear. Highly recommended!’ – Professor Bertell Ollman, New York University, author of ‘Dance of the Dialectic’

‘Clear, rigorous and combative. Kliman demonstrates that the current economic crisis is a consequence of the fundamental dynamic of capitalism, unlike the vast bulk of superficial contemporary commentary that passes for economic analysis.’ – Rick Kuhn, Deutscher Prize winner, Reader in Politics at the Australian National University

‘Among the myriad publications on the present day crisis, this work stands out as something unusual. Kliman is an excellent theorist, and an equally excellent analyst of empirical data.’ – Paresh Chattopadhyay, Université du Québec à Montréal

The recent financial crisis and Great Recession have been analysed endlessly in the mainstream and academia, but this is one of the few books to conclude, on the basis of in-depth analyses of official US data, that Marx’s crisis theory can explain these events.

Marx believed that the rate of profit has a tendency to fall, leading to economic crises and recessions. Many economists, Marxists among them, have dismissed this theory out of hand, but Andrew Kliman’s careful data analysis shows that the rate of profit did indeed decline after the post-World War II boom and that free-market policies failed to reverse the decline. The fall in profitability led to sluggish investment and economic growth, mounting debt problems, desperate attempts of governments to fight these problems by piling up even more debt – and ultimately to the Great Recession.

Kliman’s conclusion is simple but shocking: short of socialist transformation, the only way to escape the ‘new normal’ of a stagnant, crisis-prone economy is to restore profitability through full-scale destruction of existing wealth, something not seen since the Depression of the 1930s.

ANDREW KLIMAN is Professor of Economics at Pace University, New York. He is the author of ‘Reclaiming Marx’s ‘Capital’: A Refutation of the Myth of Inconsistency’ and many writings on crisis theory, value theory and other topics.

Acknowledgements
List of Abbreviations
List of Tables
List of Figures

1. Introduction
2. Profitability, the Credit System, and the “Destruction of Capital”
3. Double, Double, Toil and Trouble: Dot-com boom and home-price bubble
4. The 1970s – Not the 1980s – as Turning Point
5. Falling Rates of Profit and Accumulation
6. The Current-cost “Rate of Profit”
7. Why the Rate of Profit Fell
8. The Underconsumptionist Alternative
9. What Is to Be Undone?

Bibliography
Index

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Best regards,
Jonathan Maunder

Academic Marketing
Pluto Press
Email: jonm@plutobooks.com
Tel: 020 8348 2724
www.plutobooks.com

 

**END**

 

‘I believe in the afterlife.

It starts tomorrow,

When I go to work’

Cold Hands & Quarter Moon, ‘Human Herbs’ at: http://www.myspace.com/coldhandsmusic (recording) and http://www.youtube.com/watch?v=2h7tUq0HjIk (live)

 

‘Maximum levels of boredom

Disguised as maximum fun’

Cold Hands & Quarter Moon, ‘Stagnant’ at: http://www.myspace.com/coldhandsmusic (recording) and http://www.youtube.com/watch?v=GLjxeHvvhJQ (live, at the Belle View pub, Bangor, north Wales)  

 

‘Cheerful Sin’ – a new song by Victor Rikowski: http://www.youtube.com/watch?v=tIbX5aKUjO8

 

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Volumizer: http://glennrikowski.blogspot.com

Online Publications at: http://www.flowideas.co.uk/?page=pub&sub=Online%20Publications%20Glenn%20Rikowski

Glenn Rikowski on Facebook at: http://www.facebook.com/glenn.rikowski

Capitalism in Crisis

Capitalism in Crisis

TOWARDS A MARXIST ANALYSIS OF THE GLOBAL CRISIS

 

The International Institute for Research and Education: http://www.iire.org

Seminar: Towards A Marxist Analysis of the Global Crisis

On 2-4 October, the IIRE held its first international Economy Seminar on the Global Crisis. Thirty-six participants, economists and non-specialists, from Europe, Africa, Asia and Latin America attended the three-day event which was open to activists from different tendencies of the radical left.

The objectives of the seminar were to analyse the nature, characteristics and consequences of the current global economic crisis, from perspectives relevant to social activists, and to fortify the global network of Marxist economists. All talks will be available at the IIRE podcast, which we expect to launch with the next newsletter. For now it is possible to download all the talks in one file (original languages, more than 500MB).

Three main questions guided the various sessions of the weekend. First, what is the nature or cause of the crisis? Second, what are the social, economic and political consequences? Finally, what are the links between the current economic crisis and the global ecological and food crises? A solid look at Keynesianism, Ernest Mandel’s contribution on long waves and economic cycles and a (self-) critical take on discourse and propaganda were activities that peppered the debates.

The seminar kicked off with a well-attended public meeting on the crisis with guest speakers Chris Harman of the SWP in Britain and IIRE fellows Michel Husson of the French National Institute for Statistics and Economic Studies and Claudio Katz of the University of Buenos Aires.

François Chesnais (France) opened the seminar itself with an introduction on the role that the so-called financialisation of the economy had in the global crisis. He stated that the crisis cannot be labelled either financial or financialised. Rather, the current crisis has its roots deep in the process of capital accumulation, which, revealing its contradictions, should lead us to look at the dynamics of productivity, the rate of profit and its distribution. The discussion that followed generated a debate between over-accumulation versus under-consumption as explanations for understanding the crisis.

Ozlem Onaran (Turkey), Claudio Katz (Argentina) and Bruno Jetin (France) presented reports on the conditions of the European, Latin American and Asian economies. The debates paved the way for a deeper understanding on how the crisis is perceived and dealt with in the different regions. Participants concluded that an essential characteristic of the crisis is the lack of de-linking tendencies among countries and continents; on the contrary, the efforts to save capitalism have been concerted and almost unanimous.

Michel Husson (France) and Klaus Engert (Germany) analysed the crisis in the framework of the theory of long waves. According to this theory, elaborated by IIRE founder Ernest Mandel, it is possible to use important endogenous factors, i.e. related to the logic of capital and its internal contradictions, to explain the general fall in accumulation that began during the 1970s and has not yet concluded. This discussion left open the possibility of a new ascending wave of economic growth and capitalist accumulation dependent on such exogenous factors as a radical change of the relationship of forces between the classes. One of the conclusions, therefore, was that another wave of attacks on the working class is most likely on its way.

Eric Toussaint (Belgium) emphasised that there is no automatic link between the fact that the crisis is being paid for by workers and the popular masses, and an increase of social struggles. Political, ideological and organisational factors will also play a role in the development of the struggles.

Esther Vivas (Spain) and Daniel Tanuro (Belgium) brought in a fundamental analytical dimension with their introductions: the economic crisis cannot be observed in isolation from the global ecological and food crises. Vivas presented the causes and structure of the food crisis: the current model of agricultural and livestock production is in a large measure responsible for climate change. Tanuro demonstrated how the official, ruling class responses to climate change are insufficient, unreal, irrational and even put us in more danger. He argued that eco-socialists should push for and end to unnecessary production, the retraining of workers in affected sectors and the development of a new agricultural model instigated by radical anti-capitalist measures.

Overall, the analyses revealed that the crisis is systemic, that those who are paying for it are the popular and working classes, and that now, more then ever, it is necessary to build an emancipatory, global anti-capitalist and eco-socialist project.

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

Zombie Capitalism

New from Bookmarks Publications

Zombie Capitalism: Global crisis and the relevance of Marx, by Chris Harman

A major new study of capitalism from Marx to the 21st century

Praise for Zombie Capitalism:

“A powerful, comprehensive and accessible critique of capitalism from one of the world’s pre-eminent Marxist economists. This book needs to be read far and wide. It is a clear, incisive warning of the massive dangers posed by a ‘runaway system’ and the threat it poses for the future of humanity.” Graham Turner, author of Credit Crunch: Housing Bubbles, Globalisation and the Worldwide Economic Crisis 

“Essential reading for anyone who wants to understand the present crisis and its place in the history of capitalism and an important contribution to Marxist political economy” Alex Callinicos, Professor of European Studies, King’s College London

To read an interview with Chris about his new book, click here

To read Chris’s article “The Rate of Profit and the World Today”, click here

ISBN: 9781905192533; July 2009 428pp; £16.99

To order Zombie Capitalism for the special offer price of £15, click here

To request a review copy, email: publications@bookmarks.uk.com

Chris Harman is the editor of International Socialism journal (http://www.isj.org.uk). His previous books include A People’s History of the World (Bookmarks 1999 and Verso 2008), Revolution in the 21st Century (Bookmarks 2006), Economics of the Madhouse (Bookmarks 1995), The Fire Last Time: 1968 and After (Bookmarks 1988), Explaining the crisis (Bookmarks 1984) and The Lost Revolution: Germany 1918 to 1923 (Bookmarks 1982).

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

MySpace Profile: http://www.myspace.com/glennrikowski

The Ockress: http://www.theockress.com

CONFRONTING CAPITALISM’S ECONOMIC CRISIS

Meeting & 4-part Seminar

All events at TRS, 44 East 32nd St., 11th floor, New York, NY, from 7 pm to 9 pm

Sponsored by Marxist-Humanist Initiative

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TUESDAY, JUNE 23: PUBLIC MEETING

“The economic crisis and left responses,” a talk by Andrew Kliman, author of Reclaiming Marx’s “Capital”: A refutation of the myth of inconsistency

“A new organization for a time of crisis,” a talk by Anne Jaclard, National Secretary, Marxist-Humanist Initiative

Talks followed by open discussion. Donation requested.

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SEMINAR SERIES

Tuesday June 30. Introduction: purpose of seminar series; overview of crisis theories; definition of “crisis”; history of
capitalist crises; why crisis theory? Led by Josh Skolnik

Tuesday July 14. Underconsumptionism: does paying workers more boost profit? Led by Seth Weiss

Tuesday July 21. Marx’s law of the tendential fall in the rate of profit. Led by Andrew Kliman

Tuesday July 28. The crisis of the free market and the turn to state-capitalist ideology. Led by Anne Jaclard

As the worst economic slump since the Great Depression calls into question the viability of the capitalist system, and as people increasingly doubt whether capitalism is desirable or even necessary, we need to unite theory with practice and an understanding of the current crisis in order to respond effectively. We invite everyone seriously interested in this task to join us in the seminar series. Participants will be expected to have done the readings prior to each session.
Donations are requested, but no one will be turned away because of inability to pay.

Please call us at (888) 579-2245 or write to us at mhi@marxisthumanistinitiative.org in order to register for the seminar series and obtain the syllabus.

Our website contains continuing analysis and discussion of the economic crisis: http://www.marxist-humanist-initiative.org
You can find a printable flyer on the website, or link to it here:
http://marxisthumanistinitiative.org/wp-content/uploads/2009/crisis_series.pdf

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

MySpace Profile: http://www.myspace.com/glennrikowski