Marxist Crisis Theory and the Need to Explain Both Sides of Capitalism's Cyclicity

Marx's method and the global crisis

“…Sweezy 1970;Foster and Magdoff 2009) or on falling profit rates based on changing capital compositions (Freeman 1999;Harman 2009;Kliman 2012) appear to leave capitalism with problems so inexorable and of such long standing that it is hard to see how it ever crawled out of the nineteenth century. They struggle precisely to explain capitalism's cyclicity, which presumably includes an ability to recover from crises (Dunn 2011a). Unwittingly mirroring the mainstream, there is a tendency to see only disequilibrium where orthodox economics sees harmony and to see exogenous shocks as necessary to restore growth (Mandel 1984).…”