Late Capitalism

Book excerpt: Late Capitalism is the first major synthesis to have been produced by the contemporary revival of Marxist economics. It represents, in fact, the only systematic attempt so far ever made to combine the general theory of the 'laws of motion' of the capitalist mode of production developed by Marx with the concrete history of capitalism in the twentieth century. A landmark in Marxist economic literature, Late Capitalism is specifically designed to explain the international recession of the 1970s and is an invaluable guide to understanding the nature of the world economy today. This edition includes a new introduction by Cdric Durand assessing the book's continued relevance.