Did Marx Predict The Financial Collapse?
17 May 2011
In his new book, SOAS academic John Weeks sets out his theory that, despite mainstream economics failing to anticipate the severest crisis since the Great Depression, Karl Marx may have seen what was coming.
The SOAS Emeritus Professor of Economics claims in Capital, Exploitation and Economic Crises (Routledge: March 2011) that Marx anticipated the type of financial collapse seen in 2008, arguing that it derives from the ‘fetishism of commodities’ inherent in the capitalist mode of production. The book takes us on a journey from Marx’s analysis of the nature of capitalism to the recent global turmoil in financial markets.
The final chapter of the book will be the basis of Professor Weeks' plenary presentation at the Conference of the International Initiative Promoting Political Economy in Istanbul, 20-22 May 2011.
"An indispensable book for anyone trying to understand Marx and Capitalism" - Professor Alex Callinicos, King's College, London
"Imperative reading for those engaged in Marx's political economy and its application to contemporary capitalism" - Professor Ben Fine, SOAS
For further information, contact:
Further information about the book is available by emailing jw10@soas.ac.uk
For media enquiries contact Poul Christiansen by emailing pc42@soas.ac.uk or call 0207 898 4127.
