Chapter VII. Marx's theory of crises

Abstract

Presentation of this theory. - The law of the tendential fall in the rate of profit. - Absolute overproduction of capital. - Relation between market stagnation and the underconsumption of the masses. - Critique of the law of the falling rate of profit. - Lack of necessary relationship between the composition of capital and the rate of profit, proved on the basis of the theory of labor-value. - Marx's theory of surplus-value is untenable. - The essence of the problem of profit. - The problem of profit and the problem of value. - The origin of profit. - Reciprocal relations between the three component parts of social product. - The ethical factor in Marx's theory of surplus-value. - The law of development of capitalism and the conditions of its transformation into socialism.

Citation

von Tugan-Baranowsky, M. (2000), "Chapter VII. Marx's theory of crises", Zarembka, P. (Ed.) Value, Capitalist Dynamics and Money (Research in Political Economy, Vol. 18), Emerald Group Publishing Limited, Leeds, pp. 81-110. https://doi.org/10.1016/S0161-7230(00)18004-6