Reviews

The Long Depression: Marxism and the Global Crisis of Capitalism by Michael Roberts

nscoll's review against another edition

4.0

Roberts analyses the current world economic situation in its historic context. Using as a basis Marx's hypothesis of the tendency of the rate of profit to fall. A thought provoking book well written.

natlib91's review against another edition

4.0

great book, everyone should read it

ilchinealach's review against another edition

4.0

great book, everyone should read it

alexlanz's review against another edition

Even when recessions are triggered in the finance sector, the root cause is the falling rate of profit from an increasing organic composition of capital; and the excessive debt in modern economies makes it even harder for profitability to recover because productive investments are too risky for the returns they offer. Roberts is a very clear writer, and there's a lot of statistical evidence to illustrate Marxist theories of profitability and crisis, though I wonder if the organization of the book could be better.

resolutereader's review

4.0

I've focused in this review on what I consider to be the key part of The Long Depression - it's systematic explanation of the cause of slump and the importance of a Marxist approach. There is much more here. Readers of Michael Robert's blog will know that the has discussed the question of robot and AI technology and whether this will lead to a rosy future or a dystopian nightmare. Again he puts the question of profitability at the heart of this, showing that a completely robotic knowledge economy in the future is impossible. The chapters that look at the economic prospects for particular countries and regions are also interesting, if sobering, accounts of the bleak future for most working people unless they fight back.
Full review on the blog: http://resolutereader.blogspot.co.uk/2016/11/michael-roberts-long-depression.html