Bio: Stephan Hammel teaches at the University of California, Irvine. He has given talks on Marxist value theory and aesthetics both within and without the US. He is currently at work on a book about the historical materialist approach to the history of music.
Description: For most Americans the Great Recession never broke into a sustained economic recovery. Left-of-center economists now warn of an extended period of “secular stagnation.” My presentation will frame the current economic situation in the US in Marxist economic terms to demonstrate the relevance of his political economic insights to revolutionary strategy today. In particular, I will focus on his theory of the tendency for the rate of profit to fall with the aim of making clear what Marx and his contemporary followers understand to be the fundamental internal contradiction in the capitalist system.