Bourgeois economic thought 1930s - 70s

The selection of the historical period examined in this work by the renowned Soviet researcher of bourgeois political economy Professor V. S. Afanasyev was not incidental. The most severe economic crisis which shook the entire world capitalist economic system at the beginning of the 1930s laid bare the profound internal contradictions of bourgeois economic science.
The swift development and dissemination of a series of new economic theories-primarily that of Keynesianism to a significant degree changed the face of bourgeois polit ical economy. Yet, these new theories failed to offer a scientific explanation of how the capitalist economy does and should function. The practical recommendations on how to regulate the economic processes which were devised on the basis of these theories proved equally futile.
Based on an indepth analysis of the works of leading bourgeois theoreticians, the author traces the evolution of the theories of the main trends in contemporary bourgeois political economy and uncovers the reasons for its still deepening crisis.