The root cause of the outbreak of the current financial crisis should not be found at the operational level, nor should simplified Marxist interpretation be made, either. It is the basic contradiction of capitalism that causes the financial crisis with its nature overproduction. The financial crisis is reflected in serious imbalance in economic operation, as a result of which the economy can not operate normally. It is foreseen by Marxism that the private capital will be replaced by social capital and objectively the socialization of economic activities require that the country adjusts the economic operation from the social interests. The development of modern capitalism has already proved it.
|Translated title of the contribution
|Explanation of the Financial Crisis through Marxist Scientific Theory
|Number of pages
|Published - 2009