The Causes of Capitalist Crisis

A reply to Andrew Kliman

This document is on the causes of capitalist crisis, replying to the ideas of Andrew Kliman; written by Peter Taaffe and Lynn Walsh and endorsed by the Executive Committee of the Socialist Party (England and Wales).

A discussion on Marx’s economic ideas and their relevance today, particularly of the Law of the Tendency of the Rate of Profit to Fall (LTRPF), has been initiated by some comrades in Scotland and England and Wales.

They have drawn heavily on the latest book by Andrew Kliman – ’The Failure of Capitalist Production’ – to seek to make the case that the LTRPF is the key to understanding the current devastating world capitalist crisis.

In the process, they have subjected the economic analysis of the sections in Britain and the CWI internationally to severe criticism. We will explain in this document that we believe they are profoundly mistaken.

The full document can be read here:

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