Marx's method and the global crisis

Theory and Practice of Crisis in Political Economy: The Case of the Great Recession in Spain

“…Yet such factors fail to explain the general laws of capitalist accumulation and thus lead to other conceptions of crisis. From an approach based on the labor theory of value, “such claims remain reified in a Marxist sense of failing to link the phenomenal forms with their underlying social production” (Dunn 2012: 370). In order to be analytically consistent, my aim must be to explain the reasons why a crisis is triggered at one point or another of the valorization cycle, since profit regulates both supply and demand (Shaikh 2016).…”