In the 1950s and 60s, while the so-called Marxists couldn’t understand the post war boom, Ted Grant used the Marxist method to analyse what was happening. From this, he was able to understand that capitalism had not solved its contradictions but was destined for slump again. In order to understand the current crisis of capitalism, this period must be understood.
Ted’s analysis at the time is not only useful for putting today’s crisis in context. His article shows how to apply Marx’s understanding of the capitalist economy to modern crises.
At this year’s RCP summer camp, Nelson Wan explains Ted Grant’s article ‘Will there be a slump?’ and the method which allowed him to have this foresight.
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