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The recent financial crisis and Great Recession have been analysed endlessly in the mainstream and academia, but this is the first book to conclude, on the basis of in-depth analyses of official US data, that Marx s crisis theory can explain these events.
Marx believed that the rate of profit has a tendency to fall, leading to economic crises and recessions. Many economists, Marxists among them, have dismissed this theory out of hand, but Andrew Kliman s careful data analysis shows that the rate of profit did indeed decline after the post-World War II boom and that free-market policies...

This book seeks to reclaim Capital from the myth of internal inconsistency, a myth that serves to justify the censorship of Marx's critique of political economy and present-day research based upon it. Andrew Kliman shows that the alleged inconsistencies are actually caused by misinterpretation. By modifying the standard interpretation of Marx's value theory in two simple ways, the recent 'temporal single-system interpretation' eliminates all of the alleged inconsistencies. Written especially for the non-specialist reader, in a clear, accessible style and with the bare minimum of mathematics,...

This book seeks to reclaim Capital from the myth of internal inconsistency, a myth that serves to justify the censorship of Marx's critique of political economy and present-day research based upon it. Andrew Kliman shows that the alleged inconsistencies are actually caused by misinterpretation. By modifying the standard interpretation of Marx's value theory in two simple ways, the recent "temporal single-system interpretation" eliminates all of the alleged inconsistencies. Written especially for the non-specialist reader, in a clear, accessible style and with the bare minimum of mathematics,...

A sequel to 'Marx and Non-Equilibrium Economics', this collection of papers introduces key advances in modern value theory. Equilibrium and non-equilibrium approaches are discussed alongside the theory behind abstract labour and money. A recurring theme is the 'temporal single-system interpretation;. interpretation'.