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Economics of the Mad

Chris Harman’s analysis of capitalist economics, originally titled Economics of the Mad s reviewed here. Through a Marxist lens, the author critiques the modern global economy, arguing that while wealth production is at an all-time high, the system inherently generates poverty, instability, and crisis. The source explains fundamental concepts such as surplus value and the exploitation of labor, asserting that profits are derived from unpaid work rather than the "sacrifice" of business owners. Harman details the cyclical nature of capitalism, where competitive pressures lead to inevitable periods of overproduction and recession. Ultimately, the book rejects mainstream economic theories as inadequate for solving the human suffering caused by a system that prioritizes capital accumulation over social needs.