|
In economics, crisis is an old term in business cycle theory, referring to the sharp transition to a recession. It is still used as part of Marxist political economy. It refers to a period in which the normal process of the reproduction of an economic process over time suffers from a temporary breakdown. This crisis period encourages intensified class conflict or societal change -- or the revival of a more normal accumulation process. Many or most observers of Karl Marx's theoretical work argue that Marx himself did not come to a final conclusion about the nature of crises under capitalism. Instead, his many works (published and unpublished) suggested several different theories, none of them free from controversy. A key characteristic of these theories is that none of them are natural or accidental in origin but instead arise from the nature of capitalism as a society. In Marx's words, "The real barrier of capitalist production is capital itself."* These theories include: In theory at least, these different views may not contradict each other and may instead be complementary parts of a synthetic crisis theory.
See also | ||||||||
|
| |||||||||
 |
|
| |