Crises of Capitalism and Social Democracy

John Bellamy Foster is best-known as author of Marx's Ecology (2000; in which he corrects the popular misapprehension that Marx did not 'get' environmental limits), and as editor of Monthly Review (monthlyreview.org), the journal founded by Marxist economist Paul Sweezy in the late 1940s. In his latest book, The Endless Crisis (2012; written with Robert McChesney), Foster analyses what he calls the 'stagnation-financialisation trap'. This is the economic predicament countries such as the US and UK find themselves in today: dependent for growth on a system of financial bubbles which have now burst, they remain mired f

Leave a comment