From Crisis of Capitalism to Revival of Marxism

Maziar Razi, an interview by Labour Fight

LF: At the end of the first decade of the 21st century, the world entered into a major economic crisis. What were the reasons for this crisis which has effected the deterioration of living conditions of millions of working class in the world?

MR: In Capital, Karl Marx makes a distinction between “recurrent crises” of capitalism, which is related to business-cycle fluctuations known as “recession”, to the one which is called “major crisis”. From the late 19th century to present day, four such major crises can be distinguished: the crisis of the 1890s, the Great Depression of 1930s, the crisis of the 1970s, and the current crisis 2007-8.

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