The Falling Rate of Profit and the Great Recession of 2007-2009: A New Approach to Applying Marx’s Value Theory and Its Implications for Socialist Strategy

Peter H. Jones offers a fresh perspective on the intricate relationship between Marx's value theory and the economic upheaval of the Great Recession. Delving into the causes and implications of the 2007-2009 financial crisis, Jones analyzes the declining profit rates that underpin capitalist economies and how these trends signal deeper systemic issues. His approach not only critiques the failures of contemporary capitalism but also provides a framework for understanding its cyclical crises through a Marxist lens.

By integrating classical economic theory with modern case studies, Jones paves the way for a renewed socialist strategy, arguing for a critical reassessment of value and labor in today's economic landscape. This work challenges readers to reconsider traditional economic narratives, emphasizing the importance of historical materialism in comprehending current events and advocating for transformative social change.