nouriel roubini, a well-known American economist known as "Dr. Future" for accurately predicting the Wall Street financial crisis, spoke highly of the correctness of Marx's analysis of the capitalist economic crisis in an interview with International Business Times. He used to be a senior economist in international affairs of the White House Council of Economic Advisers, director of the Office of Policy Formulation and Evaluation of the US Treasury Department, and now he is a professor of economics at new york University. Nouriel roubini said: Judging from the continuation of the current American economic crisis, Marx's theory of capitalist economic crisis is correct, and it is still of practical significance to analyze the essence and root causes of the current American and capitalist social economic crisis. Unless large-scale fiscal stimulus or debt restructuring is carried out, capitalism will not be able to get rid of the current economic crisis, which stems from the contradictions within capitalism discovered by Marx more than 1 years ago. Because of the contradiction between unlimited expansion of production and limited social demand in capitalism, periodic economic crisis breaks out in capitalism, which is an insurmountable defect of capitalism itself. This defect brings great pressure to the capitalist economic system. Roubini emphasized that according to Marx's economic crisis theory, capitalism is self-destructive, because capitalism itself cannot continuously extract profits from workers for capitalist production. Once workers' living needs are limited, they will have no money to spend, and they will not be able to stimulate economic activities. This enlarges the consequences of lack of money in capital activities. We need the market to run, but it doesn't run according to our requirements. The market has its inherent rationality and its self-destruction process. At present, some fundamental problems are plaguing the capitalist economic and social order. ?
Two other economists in the United States, namely, Stephen resnick and Richard Whorf, professors of economics at the University of Massachusetts, also use Marxist perspectives to interpret the current world economic crisis. They believe that Marxism has its own explanation and solution to the capitalist economic crisis. Marxist theory is devoted to exploring the internal relationship between the crisis of capitalism and its unique class structure (especially the special structure in which capitalists occupy and distribute the surplus value created by workers), and on this basis, it draws a conclusion different from neoclassicism and Keynesianism. In short, the transition from one class structure to another completely different class structure is an inevitable requirement for effectively solving the capitalist crisis. This is because, no matter whether the control is strengthened or relaxed, as long as the fundamental system of capitalism is not changed, its class structure will systematically and periodically aggravate the crisis of capitalism. This is the reason why Marxism disapproves of neoclassicism and Keynesian conservative tradition of treating capitalism. ?
not only in the United States, but also in the whole western world, in the reflection of this crisis, the interest in Marx and Marxism has been rekindled. George Magnus, senior economic adviser of Swiss bank, raised the question of "Can Karl Marx be used to save capitalism". In his view, Marx hit the root of capitalism. In an article, he said: For policy makers who are trying to understand financial panic, protests and other ills that affect the world, it is of great benefit to study the works of Karl Marx, an economist who has long died. The Swiss banker made it clear that in the financial crisis and the subsequent economic depression, Marx's "ghost" has risen from the "grave". Today's global economy is incredibly similar to what he foresaw in some ways. For example, consider Marx's prediction of how the inherent conflict between capital and labor will be revealed. Marx wrote in Das Kapital that companies' pursuit of profit and productivity will naturally lead them to need fewer and fewer workers, thus creating an "industrial reserve army" for the poor and the unemployed. "While wealth accumulates at one pole, suffering also accumulates at the other." The process he described is reflected in the whole developed capitalist world, especially in the United States. In the United States, because of cutting costs and avoiding hiring people, the proportion of profits of American companies in the total economic output has risen to the highest level in more than 6 years, but the unemployment rate has also reached 9.1% and real wages have stagnated. Marx also pointed out the contradiction between over-production and under-consumption: the poorer people are, the lower their ability to consume products and services provided by companies. It is smart for a company to cut costs and increase profits, but when all companies do so, it will destroy the income composition and the effective demand on which the company relies to obtain income and profits. This problem is also obvious in today's developed capitalist world. We have a strong production capacity, but there is a general sense of economic insecurity in the middle and low income classes, and the consumption level is very low. He quoted Marx as saying in Das Kapital: "The root cause of all real crises is nothing more than the poverty of the masses and their limited consumption."
Corinna Maunsel, a French scholar, analyzed the phenomenon of "Marxism regains vitality in the West" in an article entitled "Marx is on the offensive". The article said: Since the fall of the Berlin Wall and the collapse of the Soviet system, Marx and his theory have been "discredited" in the West. But now, Western media, including the Financial Times, Time magazine and Question magazine, which have long criticized Marx and his thoughts, have frequently appeared in the headlines of newspapers and magazines. While the crisis was still shaking the world, Marx came back. Corinna Maunsel introduced: In the United States, which stubbornly adheres to liberalism, when the crisis rages, people hold up slogans in front of Wall Street: "Marx is right!" And those big capitalists, such as Arnold lagardere, the French billionaire and president of Lagardè re Group, also said: "People almost shouted:' Marx, come back!'" These people are crazy! Marx came back, and there were more and more seminars on Marx's works and thoughts. Bookstores are full of reprinted Marx's works, especially Das Kapital, although it is a difficult work with four volumes, which has been read and talked about again. ?
Corinna Maunsel thinks: "To be honest, Marxist ideological trend has never disappeared in critical research." According to wallerstein, an American scholar, "1 kinds of Marxism" have been decomposed in the "world system theory" even after neoliberalism gained power. Under the contempt of the mainstream western thoughts, people who study and believe in Marxism continue to explore Marxist theories and methods in order to analyze and better deconstruct the capitalist exploitation system from the nuances. Marx can't cover everything, let alone predict the evolution of our time; However, in the Manifesto of the Productive Party, he and Engels described the globalization of capitalism almost perfectly, and described the intensification of the contradiction between the rule of financial capital, which only knows how to maximize profits, and the system in which profit-seekers rely on the surplus labor of the exploited people all over the world to live. All the evidence shows that people need to rely on Marx's theory to understand the current world economic crisis and design a model, which should eventually end exploitation and create a better world. Corinna Maunsel asserted that many new problems in today's world (although some problems didn't exist in Marx's era, or he didn't have time and interest to think, or he gave them up), people can find answers in ideas inspired by Marxism far or near. ?
Jean-Claude Delaunay, another French scholar and a professor at the University of the Marne Valley, also believes that although new changes have taken place in contemporary capitalism since 198s, such as the globalization of production capital, the financialization of capitalist economy, the formation of multinational companies, global financial monopoly capitalism and high-tech capitalism, the essence of capitalism has not changed. In contemporary capitalist society, there are still excessive exploitation, the widening gap between income and wealth, the elasticity and instability of wage labor, the high unemployment rate and the reduction of social welfare. The opposition between capital and labor has not disappeared, but has become more intense and spread to the whole world. Therefore, theoretically, the labor value theory and surplus value theory used by Marxism to explain capitalist exploitation are not outdated. ?
On July 4th, 212, The Guardian published an article written by Stuart jeffries, a columnist of the newspaper, which specifically analyzed "Why Marxism has risen again". He cited examples of people in many countries in the world who have been interested in Marx and Marxist thought again in recent years. He said: "The sales of Capital, Marx's most outstanding work on political economy, have been soaring since 28, as have the Manifesto of the Producer Party and the Critical Outline of Political Economy. The increase in their sales coincided with the British workers' rescue of banks to keep this decaying system running and let the rich enjoy a comfortable life, but it left us all in debt, precarious jobs or worse. Karl Marx, a revolutionary theorist, was recently selected by the customers of the German Savings Bank in chemnitz from a list of 1 competitors and appeared on the newly issued MasterCard credit card. " He believes that even more than 2 years after the fall of the Berlin Wall, the former East Germans did not spray their past Marxist history with a spray gun. He disclosed: "According to a poll of East Germans published by Reuters in 28, 52% people think that the free market economy is' inappropriate' and 43% people say that they want to restore socialism. Although Karl Marx has died and was buried in Highgate Cemetery, among the Germans, he is alive and well. " "The reason why some young people have revived their interest in Marxism is because it provides a tool to analyze capitalism, especially the capitalist crisis we are currently in." "While we are struggling through the economic recession, Marxism has taught us something besides the analysis of class struggle, that is, the analysis of economic crisis." ?
Not long ago, fuwa tetsuzo, the former chairman of the Japanese * * * Production Party, also wrote an influential book-Marx is still alive and healthy. He made it clear that he hoped readers could use Marxist historical analysis methods to examine the world today. He believes that one of the main topics of Marx's study of economics is the economic crisis. Marx carefully analyzed the crises he experienced, and explained the reasons for the inevitable economic crisis in the capitalist system. Marx clearly pointed out in Das Kapital that the possibility of capitalist crisis has been lurking in the market economy. Marx discovered the causes of the cyclical bubble of capitalism and explained the internal mechanism of the crisis of capitalism. The recent world economic crisis was caused by a new type of false demand. The characteristics of this economic crisis can be summarized as that financial capital is deliberately creating the kind of false demand that Marx thought. Financial capital creates a bigger financial bubble on a global scale through the consumption bubble. Marx believes that the central problem of economic crisis is the crazy development of economic bubble on the track of false demand, which is still applicable at the current stage of capitalist development. Fuwa tetsuzo pointed out that some major problems existing in today's capitalist society and the whole world can be helped from Marx's theoretical viewpoint.