The Explosion of Debt and Speculation

  • Fred Magdoff
Keywords: Global Economic Crisis, Political Economy

Abstract

In a series of articles in Monthly Review and in Monthly Review Press books during the 1970s and 1980s, Harry Magdoff and Paul Sweezy proposed that the general economic tendency of mature capitalism is toward stagnation. A shortage of profitable investment opportunities is the primary cause of this tendency. Less investment in the productive economy (the "real economy") means lower future growth. Marx wrote about the possibility of this very phenomenon
Published
2006-11-01
Section
Review of the Month