IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-19107-9_9.html
   My bibliography  Save this book chapter

Business Cycles and Crises

In: The Basic Theory of Capitalism

Author

Listed:
  • Makoto Itoh

    (University of Tokyo)

Abstract

Capitalism as a historically specific social formation contains inner contradictions which appear most obviously in those periodical self-destructive crises, in the process of business cycles. The classical school and the neo-classical school treated capitalism one-sidedly as a harmonious economic order and disregarded both its historical character and its inner contradictions. A natural result was a lack of crisis theories in these schools. A great advantage of Marx’s Capital as compared to these schools is its comprehensive attempt to clarify the logical inevitability of periodic business cycles and crises from the basic contradictions in capitalism. However, Capital was left incomplete, especially in this field, and theoretical positions among Marxians have been diverse here. In my opinion, there are initially three major sources of confusion to be established and then cleared up as far as possible.

Suggested Citation

  • Makoto Itoh, 1988. "Business Cycles and Crises," Palgrave Macmillan Books, in: The Basic Theory of Capitalism, chapter 9, pages 290-342, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-19107-9_9
    DOI: 10.1007/978-1-349-19107-9_9
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-19107-9_9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.