2017
Description: 
Since the end of the Great Recession in 2009, the major economies have been in a long depression, similar to that of the Great Depression of the 1930s and that of late 19th century. So argues Michael Roberts in his book. He defines the differences between regular and recurrent recessions that capitalism experiences and depressions and argues that the underlying cause of crises under capitalism is to be found in Marx's law of profitability and in the modern era in the expansion and overhang of debt (fictitious capital). Roberts will present the arguments in the book and Paul Mattick Jnr, author of Business as Usual (the best short book on the Great Recession) and Jose Tapia, joint author of La Gran Recesion y el capitalismo del siglo XXI, will present critiques of Roberts' book in a general discussion of the causes of crises and the current state of the world economy.