Faltering Economy

by John Bellamy Foster

The essays in this volume, by veteran economists as well as younger scholars, are part of a radical attempt to grapple with the problems of advanced capitalist development without discarding the real theoretical breakthroughs made by Keynes. The contributors argue that Keynes was correct in pointing to the economic contradictions stemming from unemployment, income inequality, and speculative finance, but failed to consider the class composition of social output, the macroeconomic effects of the modern firm, and the atrophy of investment under conditions of capitalist maturity. They thus seek to uncover the sources of stagnation under monopoly capitalism by building on the work of three of the great economists of modern Marx, Keynes, and Kalecki.

360 pages, Paperback

First published January 1, 1984

About the author

John Bellamy Foster is a professor of sociology at the University of Oregon, editor of Monthly Review and author of several books on the subject of political economy of capitalism, economic crisis, ecology and ecological crisis, and Marxist theory.