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Marx's Theory of Economic Crisis

Level: beginner
Cliff Bowman | YouTube, 2009
Perspective: Marxian Political Economy
Topic: crisis, mainstream critique
Format: Interview
Duration: 00:09
Link: https://www.youtube.com/watch?v=-e8rt8RGjCM

Summary

A concise introduction to Marx's Labour Theory of Value, the three ratios (the rate of surplus value, the rate of profit, and the organic composition of capital), and the falling rate of profit hypothesis. The result, a short explanation of why the world economy is in a mess, from Karl Marx.

Comment from our editors:

It is concise, lucidly articulated and enough to get the basic picture of these concepts.


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