Constant Capital and the Crisis in Contemporary Capitalism

Constant Capital and the Crisis in Contemporary Capitalism

Echoes from the Late Nineteenth Century


Introduction: Constant Capital and Crises

An understanding of constant capital is an overlooked, but necessary component of crisis theory.  This paper uses the experience of the 19th century U.S. economy illustrate the relationship between constant capital and economic crises.  The rapid technological advances of the time led to a lethal combination for capital.  Investment in constant capital suffered rapid devalorization, while growing productivity saturated markets, creating what was then known as The Great Depression.

Constant Capital and Labor, Living and Dead

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1 comment so far

  1. Small Girl on

    Oops, complete paper appears to be missing Michael.


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