{"product_id":"henryk-grossman-works-volume-3-the-law-of-accumulation-and-breakdown-of-the-capitalist-system-being-also-a-theory-of-crises-9781642597790","title":"Henryk Grossman Works, Volume 3: The Law of","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003ci\u003eThe Law of Accumulation and Breakdown of the Capitalist System, Being also a Theory of Crisis\u003c\/i\u003e was Henryk Grossman’s most important, influential, and also most denounced work. As official Communist economic thought was petrifying, to comply with the needs of the Stalinist state in Russia, Grossman’s book challenged the developing dogma. Combining Marx's method and insights with a comprehensive assessment of the very substantial literature on crisis theory, Grossman demonstrated how the capitalist system, even under supposedly ideal conditions, will break down economically. Grossman’s recovery of Marx’s explanations for capitalism’s crises and tendency to break down is as timely as ever, and thanks to Jairus Banaji and Rick Kuhn, this wonderful, first full English translation is now available. \u003c\/p\u003e  \u003cp\u003e\u003ci\u003eThe Law of Accumulation\u003c\/i\u003e is the third of four volumes of Grossman's works.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e Acknowledgements\u003cbr\u003eList of Figures and Tables\u003c\/p\u003e\u003cp\u003eEditor’s Introduction\u003cbr\u003e  Rick Kuhn\u003cbr\u003e  Context\u003cbr\u003e  Grossman’s Argument\u003cbr\u003e  Initial Reception, Translations, Republications and Later Literature\u003cbr\u003e  Criticisms and Responses\u003cbr\u003e  Conventions\u003c\/p\u003e\u003cp\u003eIntroduction\u003c\/p\u003e\u003cp\u003e1 The Downfall of Capitalism in Previous Discussions\u003cbr\u003e 1  The Points at Issue\u003cbr\u003e 2  The Conception of Breakdown in Previous Literature\u003cbr\u003e 3  The Final Abandonment of Marx’s Theory of Accumulation and Breakdown by Karl Kautsky\u003c\/p\u003e\u003cp\u003e2 The Law of Capitalist Breakdown\u003cbr\u003e 1  Is There a Theory of Breakdown in Marx?\u003cbr\u003e 2  Preliminary Methodological Remarks. Economic Coordinate System: The Necessity of Simplifying Assumptions; The Assumption of Constant Prices as the Starting Point for the Analysis (Constant Value of Money; Equilibrium State of the Capitalist Mechanism, under Which Prices Coincide with Values; Exclusion of Competition)\u003cbr\u003e 3  The Equilibrium Theory of the Neo-harmonists. Otto Bauer’s Reproduction Schema\u003cbr\u003e 4  The Conditions and Tasks of the Analysis Using the Schema\u003cbr\u003e 5  Why Were the Classical Economists Disquieted by the Fall in the Rate of Profit. Despite Growth in the Mass of Profit?\u003cbr\u003e 6  The Views of the Classical Economists on the Future of Capitalism, Ricardo. and John Stuart Mill\u003cbr\u003e 7  Marx’s Theory of Accumulation and Breakdown\u003cbr\u003e 8  Marx’s Theory of Breakdown Is Simultaneously a Theory of Crisis\u003cbr\u003e 9  An Anti-Critical Interlude\u003cbr\u003e 10  The Logical and Mathematical Basis of the Law of Breakdown\u003cbr\u003e 11  Causes of the Misunderstanding of Marx’s Theory of Accumulation and Breakdown\u003cbr\u003e 12  The Factors of the Breakdown Tendency. The Problem of the Periodicity of Crises. The Course of the Cycle and the Problem of Establishing the Duration of Its Phases – The Cycle Research Institutes’ Symptomatology. – The Provisional Exclusion of Credit. – The Tempo of Capital Accumulation (in the Upswing) and the Extent of Population Growth\u003cbr\u003e 13  The Crisis and Underconsumption Theory. – Incorporating Credit into the Analysis. – The Cycle within the ‘Three Markets’: The Impetus to the Boom within the Sphere of Production (Business). The Spillover of the Wave Movement from Production into the Money Market (Money), Finally to the Stock Exchange (Speculation)\u003cbr\u003e 14  The Elasticity of Accumulation. The Problem of Sudden Leaps and One-Sided Development in Individual Branches of Production. The Relationship between the Extent of the Apparatus of Production and the Extent of Sales Turnover\u003cbr\u003e 15  Fetters on the Development of the Productive Forces under Capitalism\u003cbr\u003e 16  Marx’s Theory of Insufficient Valorisation Due to Overaccumulation and Luxemburg’s Theory of the Impossibility of ‘Realising Surplus Value’ under Capitalism\u003c\/p\u003e\u003cp\u003e3 Modifying Countertendencies\u003cbr\u003eVerification of the Abstract Theoretical Analysis by Concrete Appearances of Capitalist Reality\u003cbr\u003e 1  Restoring Profitability through Internal Structural Changes in the Mechanism of Capitalist Countries\u003cbr\u003e 2  The World Market\u003c\/p\u003e\u003cp\u003eConcluding Observations\u003cbr\u003e 1  The Breakdown Tendency and the Class Struggle (Marx’s Theory of Wages. The Factors That Determine the Wages. The Historical Tendency of Wage Levels. The Class Struggle and the Final Goal)\u003cbr\u003e 2  The Collapse of Capitalism and the General Cartel\u003c\/p\u003e\u003cp\u003eAppendix: Corrections of Grossman’s Calculations\u003cbr\u003eReferences\u003cbr\u003eIndex, including Abbreviations and Micro Biographies\u003c\/p\u003e","brand":"Haymarket Books","offers":[{"title":"Default Title","offer_id":51020203786583,"sku":"9781642597790","price":45.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781642597790.jpg?v=1750782753","url":"https:\/\/bookcurl.com\/products\/henryk-grossman-works-volume-3-the-law-of-accumulation-and-breakdown-of-the-capitalist-system-being-also-a-theory-of-crises-9781642597790","provider":"Book Curl","version":"1.0","type":"link"}