Abstract

Marxism's central claim concerning capitalism describes that mode of production as historically limited and transitory. Yet the theory of long-term capitalist crisis has remained underdeveloped, not least because many Marxist writers lack confidence in this fundamental project. I outline a theory in which an immanent critical tendency presses against twin barriers, creating a dilemma of alternative crisis-inducing paths. This scenario appears at several different sites—central, technical change, workplace, consumption, financial — which are brought into mutual interrelation. A general picture emerges of a multidimensional critical process of accumulation. The opportunity thus presents itself to bring different levels and styles of Marxist research into a common theoretical framework that highlights the defining quality of deepening crisis in maturing capitalist societies.