“Six years on from the financial crash that brought the world to its knees, red warning lights are once again flashing on the dashboard of the global economy.” Such ominous statements may sound familiar to our regular readers. However, these words are not those of a Marxist, but of the British Prime Minister, David Cameron, expressing his deep concerns about the state of the world economy.

We continue here our series on Marx’s Capital, looking at the question of accumulation. Capital is dynamic. “Money never sleeps”. For capital to act as capital, it must continuously be in motion – continually seeking to create value from value. It is this overall dynamic of capital towards which Marx now turns his attention in chapters 23-25.

A few years ago, Mario Draghi, President of the European Central Bank, stated he would “do whatever it takes” to save the euro and restore growth. However, while the euro has stabilised, temporarily, the European crisis has certainly deepened. This time it is threatening to plunge the European Union into the nightmare of a Japanese-style deflation.