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Overaccumulation and Crisis

  • Bill Lucarelli
Chapter
  • 55 Downloads

Abstract

The mature capitalist economy is subject to and dominated by a basic contradiction: the very growth of its productive potential puts insuperable obstacles in the way of making full use of available human and material resources for the satisfaction of the needs of the great mass of the population. What this means is (1) that in the absence of sufficiently powerful countervailing forces, the normal state of the economy is stagnation; and (2) that the real history of the system in its monopoly capitalist phase is determined by the interaction of the tendency to stagnation and the forces acting counter to this tendency. (Magdoff & Sweezy, 1988, p. 24)

Keywords

Trade Cycle Asset Price Capacity Utilization Capital Asset Excess Capacity 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Bill Lucarelli 2004

Authors and Affiliations

  • Bill Lucarelli
    • 1
  1. 1.University of Western SydneyAustralia

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