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This article proposes a simple new model that helps to analyze the long-term movement of the profit rate. The article applies the new model to the United States and China, the world's two largest economies, to illustrate how the new model may help analyze the global capitalist crisis in the 21st century. In the new model, the long-term movement of the profit rate depends on the long-term average economic growth rate and the ratio of accumulation. As the capitalist economy stagnates and ecological sustainability imposes constraints on future economic growth, capitalism may have exhausted its historical capacity to check the tendency for the rate of profit to fall.

Cover -- Half Title -- Series -- Title -- Copyright -- Contents -- List of figures -- List of tables -- List of boxes -- Preface -- 1 Capitalism and the profit rate -- 2 Profit, accumulation, and crisis in British capitalism: 1855-2018 -- 3 Profit, accumulation, and crisis in American capitalism: 1900-2018 -- 4 Profit, accumulation, and crisis in Japanese capitalism: 1955-2017 -- 5 Profit, accumulation, and (the coming) crisis in Chinese capitalism: 1980-2018 -- 6 China and the global labor arbitrage -- 7 The past and the future of the profit rate, 1855-2050 -- Appendix A: Estimating the profit rate in the United Kingdom, 1855-2018 -- Appendix B: Estimating the profit rate in the United States, 1900-2018 -- Appendix C: Estimating the profit rate in Japan, 1955-2017 -- Appendix D: Estimating the profit rate in China, 1980-2018 -- Bibliography -- Index.

"Analyses how political and economic imbalances in China exacerbate system collapse - and how this collapse could happen much sooner than we had previously anticipated. China is the last region into which capital can expand: the system is at its limits. Examining this, as well as ecological issues and the internal politics of the Chinese Communist Party, Minqi Li commands a narrative of China at a pivotal moment and the country's possible impact on the stability of capitalism worldwide."

This book studies the limits imposed by the depletion of fossil fuels and the requirements of climate stabilization on economic growth with a focus on China. The book intends to examine the potentials of various energy resources, including oil, natural gas, coal, nuclear, wind, solar, and other renewables, as well as energy efficiency. Unlike many other books on the subject, this book intends to argue that, despite the large potentials of renewable energies and energy efficiency, economic growth eventually will have to be brought to an end as China and the world undertake the transition fro.

Minqi Li asks: How can China, the world's largest energy consumer, be "de-grown"? What policies and institutions must change, and what are the potential social implications? How can social ownership of production, redistribution of wealth the working class, and democratically controlled planning bring the country closer to a zero growth scenario?

Whether China has become an imperialist country is a question of crucial importance for the global class struggle. Although China has developed an exploitative relationship with South Asia, Africa, and other raw material exporters, on the whole, China continues to transfer a greater amount of surplus value to the core countries in the capitalist world system than it receives from the periphery. China is thus best described as a semi-peripheral country in the capitalist world system.

This paper evaluates the implications of global emissions budget distribution between three large geographical areas (China, OECD countries, and the rest of the world) in the context of Anthropocene and the structural crisis of the capitalist world system. Two plausible emissions distribution principles are considered. Under neither the inertia principle nor the equity principle, can continuing economic growth be made compatible with requirements of climate stabilization in all three regions. This conclusion does not change significantly when plausible acceleration of emissions intensity reduction in the future is taken into account. To limit global warming to not more than 2 degrees Celsius by the end of this century, at least two of the three large regions need to reorganize their economies to operate with zero or negative growth. Such a reorganization cannot be achieved under a capitalist economic system given the inherent tendency of capitalism towards endless accumulation. Neither is it likely to be achieved under any conceivable economic system dominated by market relations.

Two decades after the end of the Soviet Union, the global capitalist economy narrowly escaped total collapse in the 'Great Recession' of 2008–2009. The world in the twenty-first century has entered into a new era of crisis, which is economic, political and environmental. What will happen between now and the mid-twenty-first century that may shape and largely determine the future of humanity for centuries to come. On the occasion of the centennial anniversary of the October Revolution, this article re-evaluates the trajectory of the twentieth century socialism and identifies its legacies. It also considers the unique character of contemporary contradictions and argues that the formation of new industrial working classes may fatally undermine the system's political legitimacy and raise again the 'spectre of communism' that Marx and Engels predicted, this time not only in Europe but also in the entire globe.