This week we talk to Professor Andrew Kliman, about the current economic crisis, and what Karl Marx would make of it all. Professor Kliman, is a Professor of Economics at Pace University and author of several publications on Marxian economics, including the books Reclaiming Marx’s “Capital”, and ‘The Failure of Capitalist Production: Underlying Causes of the Great Recession’. We talk of Marx's labour theory of value, the falling rate of profit, production for productions sake, and what Marx would think about the insights of the post-keynesian, Hyman Minsky.

The Professor is a leading proponent of the Temporal Single System Interpretation of Marx's labor theory, which defends Marx’s cconomic theories against various claims of its inconsistency from other economists. I’m currently reading Das Kapital myself, so it’s a real treat to hear what one of the worlds foremost Marxists has to say about the current economic situation.

You can buy his books here:

http://www.amazon.com/Andrew-Kliman/e/B001JSALNS/ref=sr_ntt_srch_lnk_1?qid=1351094041&sr=8-1

You can check out his blog here:

http://akliman.squarespace.com/

Enjoy!