Paige McLoughlin’s Reviews > Capitalism: Competition, Conflict, Crises > Status Update

Predicts recurrent crises over time and every few decades.

Wages vs. profit and growth in the post-Keynesian dispensation of neoliberalism. When wages are good you pump up the consumer economy but profits are the key to growth and inequality if you crush labor and make more profits some more is available for reinvestment but the staggering inequality leads to top-heavy growth and problems of destabilizing politics.

Keynesian Stimulus works in the short term by pumping up demand with its multiplier effect; it will get you out of a depression like the one in the thirties. It will, however, lower the growth of output in the long term since the amount of profits that gets reinvested in growth is less over time, and you end up with the stagflation that happened in the seventies. Explains the twentieth century pretty well.

Getting into Macroeconomics and Neoclassical vs. Keynesian theory of the business cycle, and what Shaikh explains as the real business cycle of his classical Marxian theory.

International trade and firms exploiting labor across borders.

Interest rates Ann's the tate of profit

More on competition and ptices

Explanation of real competition cst perfect and imperfect competition and the role of regulating capital