Value and Crisis

Essays on Marxian Economics in Japan

One contribution of the original Value and Crisis was to bridge Japan and the world in the field of Marxian political economy. Itoh's second edition demonstrates an even wider-ranging familiarity with major schools of Marxist thought, summarizing and assessing viewpoints of such theorists as Hilferding, Bauer, Kautsky, Bukharin, Luxemburg, Grossman, Sweezy, the Japanese Marxist Kozo Uno, together with the relevant parts of Capital and a section on the 1930's Great Depression.

Given today's current emergencies of world capitalism and socialism, says Itoh, we need to work together to resolve new global problems, articulating new issues of Marx's theories of value and crisis.

The promise of Marx's theories has not waned. If anything - given the failure of Soviet-style socialism and the catastrophe of neoliberalism - it grows daily.