A classic work in the Marxist canon on political economy

Long awaited, the first full translation of Henryk Grossman?s 'The Law of Accumulation and Breakdown of the Capitalist System, Being also a Theory of Crisis' has been published in English. It was the most important, influential and yet most denounced of Grossman's works and recovers not only Marx?s primary explanation of capitalism?s economic crises and breakdown tendency but also his method in 'Capital'.

"Long awaited, the first full translation of Henryk Grossman's The Law of Accumulation and Breakdown, of the Capitalist System, Being also a Theory of Crisis has been published in English. Grossman was the preeminent Marxist economist of the 20th century; The Law of Accumulation was the most important, influential and yet denounced of his works. It recovers not only Marx's primary explanation of capitalism's economic crises and breakdown tendency but also his method in Capital"--

'Law of Accumulation, first published in German in 1929 , is one of the seminal works of Marxian political economy, both in its method and in substantive theory. Reissued in the original German in 1970 , Grossmann's work has also appeared in Japanese, but there has never (until now) been an English edition. This is an important volume ... it will be essential reading for anyone with an interest in the development of Marxian economic theory.' Science & Society

Long awaited, the first full translation of Henryk Grossman's "The Law of accumulation and breakdown of the capitalist system : being also a theory of crisis" has been published in English. It was the most important, influential and yet most denounced of Grossman's works and recovers not only Marx's primary explanation of capitalism's economic crises and breakdown tendency but also his method in Capital.

'The Accumulation of Capital' is a book on Marxist economics written by Rosa Luxemburg. In the polemic, she argued that capitalism needs to constantly expand into non-capitalist areas in order to access new supply sources, markets for surplus-value, and reservoirs of labor. According to Luxemburg, Marx had made an error in Capital in that the proletariat could not afford to buy the commodities they produced, and therefore by his own criteria it was impossible for capitalists to make a profit in a closed-capitalist system since the demand for commodities would be too low, and therefore much of the value of commodities could not be transformed into money. Therefore, according to Luxemburg, capitalists sought to realize profits through offloading surplus commodities onto non-capitalist economies, hence the phenomenon of imperialism as capitalist states sought to dominate weaker economies. This however led to the destruction of non-capitalist economies as they were increasingly absorbed into the capitalist system. With the destruction of non-capitalist economies however, there would be no more markets to offload surplus commodities onto, and capitalism would break down.

The first comprehensive English-language Grossman biography

Henryk Grossman's substantial essays highlight vital but still neglected aspects of Marx's economic theory

"Portions of this book were originally published as The Law of value and historical materialism c1978 by Monthly Review Press."