The end of rational capitalism.(REVIEW OF THE MONTH)(Critical essay) From: Monthly Review | Date: March 1, 2005| Author: Foster, John Bellamy | COPYRIGHT 2005 Monthly Review Foundation, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

The twentieth century's dominant myth was that of a "rational capitalism." The two economists who did the most to promote this idea were John Maynard Keynes and Joseph Schumpeter. Both were responding to the great historical crisis of capitalism manifested in the First World War, the Great Depression, and the Second World War. In the wake of the greatest set of horrors the world had ever seen, accompanied also by the rise of an alternative, contending system in the Soviet Union, it...

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