((Crisis of Capitalism )) define the term and explain the context for its usage and why...

((Crisis of Capitalism )) define the term and explain the context for its usage and why it is important.

Expert Solution

Crisis of capitalism is a scenario or phenomenon where the capitalist system, relying on its market forces and promoting free market, faces the challenge of recessionary pressure and decreasing return when the market goes through the cyclical downturn. It makes capitalistic system to be vulnerable to collapse and nobody as market forces likes to come and rescue the capitalism. It is termed as crisis of Capitalism and it was duly recognized by Karl Marx as well. It is very contexual w.r.t. its uses and interpretation that crisis of capitalism, causes a severe problems to the economy and it forces the government and other authorities to come ahead and intervene. It shows its importance, because it is the reason for the government intervention and it helps the economy to recover. The recent example is of the 2008 crisis that forced to government to intervene and resolve the crisis of capitalism.

Rahul Sunny answered 1 year ago

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