Stalin's Economist by Mommen André

Author:Mommen, André
Language: eng
Format: epub
Publisher: Taylor & Francis
Published: 2011-11-15T00:00:00+00:00

Conclusions

In the early 1930s the general crisis of capitalism had become chronic and capitalism had entered a new phase: a depression of a special kind. With Hitler and Roosevelt a period of unprecedented state intervention had been inaugurated. Varga believed that improvements were due to capitalism’s internal mechanisms as explained by Marx. Meanwhile, Hilferding and Luxemburg had remained his main sources of inspiration. In 1931 he still believed that monopoly capital could postpone a credit crunch or avoid monetary crises. Forms of capitalist planning designed by Socialist reformists and bourgeois politicians could, however, lead to Fascism.

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