A critique of Luxemburg’s Theory of Accumulation

Back-cover text

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.


Contents

Introduction (2)

Section 1:  The Theory (6)

  1. A Critique of Marx? (7)

  2. Luxemburg’s Theory of the Accumulation of Capital (10)

Section 2:  Theoretical Criticism (15)

  1. The Rejection of Marx’s Diagram of Accumulation, i.e. c+v+s=tc (16)

  2. Is Overproduction Relevant? (20)

  3. Simple and Enhanced Reproduction (23)

  4. The Absurdity of Production for a Market? (25)

  5. The Availability of Money and Demand for Realising Constant Capital (28)

  6. The Issue of Total Stock and What Capitalists can Demand and Purchase (30)

  7. Capitalists only purchase Subsistence, Feudal Markets purchase Constant Capital? (36)

  8. What does Luxemburg mean by Non-capitalist Markets? (42)

Section 3:  Empirical Criticisms (45)

  1. The End of the Ascendant Period of Capitalism (46)

  2. Empirical Data regarding Decadence (50)

  3. Militarism as a Province of Accumulation? (55)

  4. Investment in the The Real World (60)

  5. Economic relationship with Non-capitalist Markets (65)

  6. The Impact of Internal Non-Capitalist Markets (76)

  7. In Conclusion (86)

Appendices (92)

Other Books by the Same Author (96)

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