Capitalism and Catastrophe

Capitalism and Catastrophe questions whether there are processes in advanced capitalism that lead inevitably to systemic collapse. The author challenges those Marxian theories based on a set of historically evolving 'internal contradictions' derived from a purely dialectical analysis of capitalism.

Capitalism and Catastrophe questions whether there are processes in advanced capitalism that lead inevitably to systemic collapse. The author challenges those Marxian theories based on a set of historically evolving 'internal contradictions' derived from a purely dialectical analysis of capitalism. In Part I he focuses on the controversy surrounding Rosa Luxemburg's theories of imperialism and capital accumulation, and on Marx's treatment of science and technology in the Grundrisse. In Part I I he critically examines neo- and non-Marxian theories of advanced capitalism, in particular the work of Jurgen Habermas regarding the problem of political legitimation in advanced capitalism. Professor Rousseas argues that Marxists have severely underestimated the resilience of the capitalist system, which must be taken into account by any theory of political economy relevant to the twentieth century.