Marx's Theory of Economic Crisis

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

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.

Tags: capitalism | crisis of capitalism | labour theory of value | surplus value
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