Radikha Desai & Ben Norton: Capitalism’s inherent contradictions
Political economist Radhika Desai discusses the inherent contradictions in the capitalist mode of production: crises of overproduction, the tendency of the rate of profit to fall, and a trend toward monopolies and financialization.
She also explains the difference between classical political economy and neoclassical economics.
This is a discussion of chapter 2, “Capitalism as Contradictory Value Production”, of Radhika’s book “Capitalism, Coronavirus and War: A Geopolitical Economy”.
You can download Radhika’s book for free here: https://geopoliticaleconomy.com/2023/…
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This interview with Radhika is full of treasures and none more so than that of Marx’s prediction of exactly the mechanism of how rentier financial “capitalism” (aka neofeudalism), is itself inherently self-destructive. (see screenshot in the following comment). Ben’s interview style and his knowledge of the subject matter is absolutely… Read more »
I forgot to add the screenshot of how Marx predicted precisely where the US economy has arrived…