Title : The Crisis 1974-1982 - The Facts Their Marxist Interpretation - Ernest Mandel - book

Summary :

This book places the widespread recessions of 1974-1975 and 1980-1982 both in their precise historical context—the break with the long period of post-war expansion—and in the more general context of the history of the capitalist mode of production as a whole. It is a matter of explaining how these recessions and the phases of depression—of hesitant, uneven, and non-cumulative recovery—that followed them were neither the result of chance nor the product of exogenous factors (the rise in the price of oil; the liberation struggle of the peoples of the Third World; the irrational behavior of trade unions; the wage demands of workers anticipating inflation). On the contrary, they correspond to the immanent logic of the system, although exogenous, or accidental, factors obviously play a role in the particularities of each cycle. Along the way, we can refine both the exposition and the application of the Marxist theory of periodic crises and the industrial cycle, which remains one of the most controversial but, at the same time, one of the most impressive chapters in Karl Marx's theoretical work.

• EAN: 9782081218895
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