Summary And Evaluation Of The Western Marxism Economist Theory For The Reason Of The Economic Crisis

The economic crisis is the social and economic chaos with thedevelopment of capitalism, which break out periodically and the basiccharacteristic of which is over—production. Lenin said that,“crisis meansoverproduction caused by a common phenomenon that production of goodscannot be achieved.”The financial crisis and economic crisis is an eternal topicof capitalism system and market economy. Since the crisis broke out for the firsttime in England, Crisis broke out in Capitalist country periodically. In order torecognize the roots of the economic crisis, find a solution to the crisis andmaintain the capitalism system, economic crisis has become one of the mainresearch topics for western economists. The reason of the economic crisis isthe core issue of the economic crisis theory. After the breakout of theinternational financial and economic crisis in2008, both the domestic andforeign scholars started to think about the reasons for the crisis. For the coreissue of crisis, the following so-called theory has been very popular in bothdomestic and abroad：theory of the excessive competition among the financialorgans, theory of the lack of financial supervision, theory of distortion of theinternational monetary system, theory of the over-consumption, theory of policyinducement, the theory of the excess liquidity, theory of the comprehensivefactor. All of the above theories have analyzed the reasons of crisis from thedifferent aspects. Although these theories have disclosed certain amount oftruth, they have only analyzed the surface layer reason, either the concretereason or the technical reason, and have not used the theory of Marxism as aguidance to conduct an in-depth analysis. By combing the Western MarxismTheory for the Reason of the Economic Crisis, this article is trying to help ushave a better understanding about the root causes of economic crisis. Thisarticle also makes a comparison between the Marx Crisis Theory and theCapitalism Crisis Theory and has an evaluation for them.This article includes four parts.Chapter one: Introduction, which discusses about the researchsignificance, present research progress and the research methods of theWestern Marxism Theory for the Reason of the Economic Crisis. Chapter2: The Brief Introduction of the theory for the Reason of theEconomic Crisis which has caused important influence, including theoverproduction crisis theory with the representative of Robert Brenner, fallingrate of profit theory with the representative of Chris Harman, capitalism theoryof financial liberalization with the representative of Costas Lapavitsas, newliberalism crisis theory with the representative of David Kots. This chapter isdivided into four sections which has respectively discoursed each of the abovetheory’s analysis process of the outbreak reason for the current internationalfinancial and economic crisis.Chapter3: the Explanation Power of the Western Marxism Theory for theReason of the Economic Crisis acted on the international financial andeconomic crisis in2008.This chapter starts with the review of the currentevolution of the crisis, then it relates the Western Marxism Theory for theReason of the Economic Crisis about the reasons of the current crisis.Chapter4: The Comprehensive Assessment of the Western MarxismTheory for the Reason of the Economic Crisis, in which it was compared withthe Economic Crisis Cause Theory from the Western Capitalism Economist, inorder to find both the reasonable and unreasonable aspect.The article conclusion: with the guide of Marxism Theory and the researchmethods, the theories of western Marxism economic crisis causes analysis ofthe various reasons causing the crisis from a different perspective, which isuseful for us to understand the root of the crisis. It’s a pity that the theory ofWestern Marxism economic crisis causes just tries to explain the crisis reasonunder the maintenance system of private Capitalist property this basic systempremise, compared with Marx’s theory of crisis, it lacks of thoroughness.