Louis Corey was born Louis C. Fraina (1892-1953) and was a founding member of the American Communist Party in 1919. After running afoul of the Communist International in 1921 over the alleged misappropriation of funds, Fraina left the organized radical movement, emerging in 1926 as a left wing public intellectual by the name of Lewis Corey. During the McCarthy period, deportation proceedings were initiated against him. Fraina came to socialism as a youth, later stating that he had joined (and quickly departed) the Socialist ...
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Louis Corey was born Louis C. Fraina (1892-1953) and was a founding member of the American Communist Party in 1919. After running afoul of the Communist International in 1921 over the alleged misappropriation of funds, Fraina left the organized radical movement, emerging in 1926 as a left wing public intellectual by the name of Lewis Corey. During the McCarthy period, deportation proceedings were initiated against him. Fraina came to socialism as a youth, later stating that he had joined (and quickly departed) the Socialist Party of America in 1909. Fraina seems to have been greatly influenced by the writings of Daniel DeLeon, editor of the newspaper of the rival Socialist Labor Party of America, a party which Fraina joined shortly after his departure from the SPA. Fraina was an enthusiastic convert to the SLP, making public speeches on revolutionary socialism and the SLP's ideas about revolutionary industrial unionism. He made streetcorner speeches in New York City every weekend in good weather, learning the art of public oratory in the trenches and mastering the loud and dramatic form of presentation needed to captivate strangers when speaking from a soapbox. After a protracted legal battle, Corey died of a cerebral hemorrhage before the action against him was formally abandoned. Corey's papers are housed in the Rare Book & Manuscript section of Butler Library at Columbia University in New York City. The collection includes 10 linear feet of material housed in 24 archival boxes. This is a reproduction of an out-of-print manuscript. All pages are intact and it has been carefully reviewed.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
This fascinating book attempts to apply Karl Marx's theory of economic crisis to the US in the midst of the depression of the 'thirties.
Written in 1934 by one of the early leaders of the Commuinist Party of the USA who had become alienated from the organisation and entered academia, the book marshalls a wealth of empirical detail from Government and business sources to argue that US capitalism was in terminal decline.
With the benefit of hindsight we can see that this was obviously not the case. Indeed the US was about to enter its longest ever boom stimulated by massive arms spending during World War Two and the Cold War. That was not at all clear at the time, however, with nearly half the workforce unemployed, production and trade in meltdown and Germany and all the other major world economies in a similar plight.
Professor Corey argues that the cause of the crisis can be found in the Marxist theory of the tendency of the rate of profit to fall and the imbalance between production and consumption. Infortunately for the author, the statistics he quotes on the rate of profit do not fully bear out his analysis, showing a rise until the eve of the crash in 1929.
However, with the US economy today experiencing a credit crunch and recession, by showing the over heated nature of the US economy between 1927 and 1929 with a stock market bubble and consumer credit artificially sustaining a boom that had run its course, the book reveals frightening parallels with the situation in early 2008.
