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The Falling Rate of Profit and the Great Recession of 2007-2009: A New Approach to Applying Marx’s Value Theory and Its Implications for Socialist Strategy by Peter H. Jones at Abbey's Bookshop,
The Falling Rate of Profit and the Great Recession of 2007-2009: A New Approach to Applying Marx’s Value...
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Peter H. Jones

The Falling Rate of Profit and the Great Recession of 2007-2009

A New Approach to Applying Marx’s Value Theory and Its Implications for Socialist Strategy

Peter H. Jones

$44.99

Paperback

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English
Haymarket Books
07 March 2023
Industrial arbitration & negotiation
Series: Historical Materialism
In this ground breaking contribution to Marxist economic theory, Peter H. Jones provides a comprehensive analysis of profit rates in the lead up to the Great Recession. 

The Falling Rate of Profit and the Great Recession of 2007-2009 develops a new interpretation of Marx’s labour theory of value rooted in non-equilibrium, and applies this theory to US national accounting data. In so doing Jones shows that, when measured correctly, the profit rate falls in the lead up to the Great Recession due to the rising organic composition of capital—the primary reason for crises in Marx’s own account.  

From there Jones also details a new theory of finance, showing how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He then discusses the implications of this analysis, and Marx and Engels’ work generally, for a democratic socialist strategy. 
By:  
Imprint:   Haymarket Books
Country of Publication:   United States
Dimensions:   Height: 228mm,  Width: 152mm, 
ISBN:   9781642593327
ISBN 10:   164259332X
Series:   Historical Materialism
Pages:   226
Publication Date:  
Audience:   General/trade ,  ELT Advanced
Format:   Paperback
Publisher's Status:   Active

Peter H. Jones is an independent scholar based in Canberra. He completed his Ph.D. in 2014 at the Australian National University, and has been active in many political campaigns, including for refugee rights and against cuts to health care and universities.

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