The Problem: Marx Didn’t Leave Us a Completed Crisis Theory

These writings are built on the foundations of “Capital,” a work that at least in Germany is becoming a bestseller once again. But “Capital” itself, though it lays the foundation, is not a book about the periodic crises capitalist production goes through. Nor is there a section within “Capital” dealing with such crises, as is generally the case with works that popularize the theories of “Capital.”

Since Marx and Engels put so much emphasis on crises in the Communist Manifesto and other works, this omission at first seems surprising. Marx had planned to crown his economic work with a book on the world market, the state, competition and crises. As is well known, Marx did not have the time to write this work. It is, of course, impossible for any other person to write the work Marx might have written if he had had the time.

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One Response to “The Problem: Marx Didn’t Leave Us a Completed Crisis Theory”

  1. Competing Economic Theories: What’s the Difference? | Econocalypse Says:

    […] Hayek’s The Road to Serfdom and Karl Marx’s  Das Kapital became a bestseller again in Germany just a few years […]

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