Contribution to a discussion on Marx’s accumulation and crises theory of Capitalism
Bibliographic data: Phil Sutton, A Critique of Luxemburg’s Theory of Accumulation. Independently published, 30 May 2021. Paperback, 98 pages. ISBN-13: 979-8733143033. Per copy: £6.23 Ordering information via Amazon-UK.
«From: The Accumulation of Capital by Rosa Luxemburg (1913):
“Capital accumulation progresses and expands at the expense of non-capitalist strata and countries, squeezing them out at an ever faster rate. The general tendency and final result of this process is the exclusive world rule of capitalist production. Once this is reached, Marx’s model becomes valid: accumulation, i.e. further expansion of capital, becomes impossible. Capitalism comes to a dead end, it cannot function any more as the vehicle for the unfolding of the productive forces, it reaches its objective economic limit.”
This pamphlet critically investigates how Rosa Luxemburg justifies her theory of the accumulation of capital and whether the events of the last century of capitalist development confirm or deny her theory.»