Andrew Kliman

Independent activity Western Marxism 1955–

Economist who explained the Great Recession by the falling rate of profit and defends the temporal single-system reading of Marx

Kliman is an American Marxist economist who took his BA at the University of Maryland and his PhD in economics at the University of Utah in 1988. In Reclaiming Marx's "Capital" (2006) he defended the Temporal Single System Interpretation (TSSI) of Marx's value theory against neoclassical and neo-Ricardian claims that it is internally inconsistent. In The Failure of Capitalist Production (2011) he argued that a fall in the rate of profit from which the US economy never recovered after the slumps of the 1970s and early 1980s led, through debt-fuelled bubbles, to the Great Recession. He has also written on the "disintegration of the Marxian school" and called for intellectual autonomous zones outside academia.