The World Economic Crisis: A Marxist Analysis

A financial crisis developed with an amazing speed starting from the late summer and early autumn of 2008 and it still affects the world today. This crisis has damaged many of the largest financial institutions firstly in the US and the whole world then followed, but the worst damage was that a large part of the world's financial system had almost collapse. A lot of researches tried to explain the reasons of the current global crises and try to figure out ways of changing or helping the system. This paper argues about explain the current global economic crises with new Marxists analysts and that the current crisis should be seen as a systemic crisis of capitalism because of bad structure. In order to reach the point of economic crisis there is a series of events going on where the prices goes up and as Marx mention there is ‘overproduction’. By 2009 North USA manage to bring stock market price almost back to normal, creating growing debts into other countries, such as Ukraine, Hungary and Greece, who had to loan major amounts from IMF to fend off bankruptcy. It has been noted from Marxists theorists that the current financial crisis, come together with a more general down turn in the global capitalist economy and has been shaped the worst economic crisis since the 1930s.

‘The crisis is an expression of the reassertion of the fundamental laws of the capitalist economy. Its source lies in the fact that the claims of capital have vastly outgrown the available mass of surplus value. Capital must seek to overcome the imbalance.’

The Marxists framework continues to be used by many analysts because it is one of the most completed and systematic theoretical critiques of capitalism which was ever created (Cohen J.B., 2008). Marxist an...

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...sity Press, Princeton University Press; Reprint Edition

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