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The global crisis of 1973-75: a turning point for capitalism

Summary by In Defence of Marxism
50 years ago, after the long postwar boom, the world economy experienced its first truly global crisis. Falling output and spiralling inflation combined to devastate the working class. Today, capitalism faces similar turmoil. It must be overthrown.

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In Defence of MarxismIn Defence of Marxism

The global crisis of 1973-75: a turning point for capitalism

50 years ago, after the long postwar boom, the world economy experienced its first truly global crisis. Falling output and spiralling inflation combined to devastate the working class. Today, capitalism faces similar turmoil. It must be overthrown.

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