Year: 2012
Type: report
Abstract: This paper reviews Andrew Kliman's The Failure of Capitalist Production (2011) with a focus on his critique of the underconsumptionist account of the current crisis. He innovatively refutes the underconsumptionist claims that the deterioration of income distribution and hence the decline of demand is the root causes of the crisis. However, his counterevidence based on the alleged rise in the share of workers' income is not strong enough to support his relevant criticism of the underconsumptionist theory and its political implications. Rather, we suggest an outline of alternative critique which would refute underconsumptionism more effectively.
Author: Sangjun Jeong
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7015007589