Why Has Capitalism Gone Into Crisis?
Prices are rising, consumers and governments alike are drowning in debt, and in the US, . This is all completely out of sync with the stock market, which is booming on the basis of an AI-fueled speculative frenzy. Although more and more workers are struggling to make ends meet, on the surface, the capitalist system seems to be stable enough. But underneath the surface, a deep crisis for the world economy is being prepared. To explain the current-day capitalist crisis, we have to go back to the ideas of Marx and understand the fundamental mechanisms of capitalism and why crisis is baked into the system.
This discussion will be introduced by Charlotte Papin, a leading member of the RCA.
Reading list:
Books
- Understanding Marx’s Capital – Adam Booth and Rob Sewell
- Value, Price, and Profit – Karl Marx
- Wage, Labour, and Capital – Karl Marx
Articles
- Will There Be A Slump? – Ted Grant
- What the stock market bubble can tell us about the state of the US economy – Niklas Albin Svensson
- The Organic Crisis of Capitalism – Rob Sewell
- Global debt: a ticking time bomb – James Kilby
- Marxism in Our Time – Leon Trotsky
- Marxism, money, and inflation – Adam Booth
