You are hereAndrew Kliman on the Failure of Capitalist Production

Andrew Kliman on the Failure of Capitalist Production

By suren - Posted on 28 February 2013

Friday, March 15th, 2013, 7:30 - 9:30 p.m. Economist Andrew Kliman will make a rare Boston appearance to discuss his book "The Failure of Capitalist Production: Underlying Causes of the Great Recession" (Pluto 2012). Many analyses of the Great Recession have been put forward from theories of unregulated finance, to Neoliberalism, to rising inequality. Kliman's book is the first to put forward, based on in-depth empirical analysis of US data, that Marx's theory of the Tendency of the Rate of Profit to Fall can explain these events. This talk will also present some of Kliman's most recent work on the contentious issues of wages and inequality.

Kliman's conclusions have immediate political implications. Short of a socialist transformation the only way to escape the 'new normal' of stagnation is to restore profitability through full-scale destruction of the value of existing capital assets, something not seen since the Depression of the 1930's. This contrasts starkly with other theories of the Great Recession which imply that financial regulation, redistribution of income or Keynesian policies can stabilize capitalism.

Kliman teaches economics at Pace University in New York and is the author, in addition to this book, of "Reclaiming Marx's Capital: A refutation of the myth of inconsistency."

Sponsored by: The Howard Zinn Memorial Lecture Series, Encuentro 5 and the Marxist Humanist-Initiative.

For more information about the event please contact Brendan Cooney at To purchase "The Failure of Capitalist Production" by Andrew Kliman please visit:

For Andrew Kliman's writings and CV please visit:

Facebook event for Kliman talk.