This paper incorporates a post-Marxian view of investment in an overinvestment theory of cyclical economic crises. The Marxian crisis theory based on the tendency for the profit rate to fall (because of overmechanization) is replaced with a theory of overaccumulation of fixed capital, while the...

This paper examines the role of underconsumption tendencies in the laws of motion of capitalism. First, underconsumption theories are examined. My conclusion is that underconsumption forces play a direct role only under restrictive supply and demand conditions, i.e., when labor-power is abundant...