Henryk Grossman

Henryk Grossman (1881-1950) was a Polish-German Marxist economist and historian known for his influential work on Marx's theory of capitalist breakdown and accumulation. His major contribution, The Law of Accumulation and Breakdown of the Capitalist System (1929), presented a systematic analysis of Marx's reproduction schemes and theory of crisis. As both an economic theorist and political activist, Grossman served as head of Jewish statistics in Austria-Poland and later taught at the Institute for Social Research in Frankfurt. After fleeing Nazi Germany, he spent time in exile in New York before returning to East Germany in his final years. Grossman's central theoretical argument was that capitalism has an inherent tendency toward breakdown due to the falling rate of profit, countering interpretations that saw Marx's crisis theory as focused primarily on underconsumption. His mathematical models demonstrating this thesis influenced later Marxist scholarship on economic crisis theory. His work has experienced renewed interest since the 1970s, particularly among scholars examining systemic financial crises and the long-term stability of capitalist economies. While controversial in his time, Grossman's emphasis on the centrality of profitability and accumulation dynamics to capitalist crisis remains relevant to contemporary political economy debates.

Readers describe Grossman's work as detailed but sometimes dense economic analysis. Many note his careful research and documentation of capitalist crisis cycles, particularly in "The Law of Accumulation and Breakdown." Likes: - Thorough mathematical models and data analysis - Clear explanations of Marx's reproduction schemes - Historical context for economic theories Dislikes: - Academic writing style can be challenging to follow - Some find the statistical focus overwhelming - Limited translations available of his complete works The most reviewed book on Goodreads is "The Law of Accumulation and Breakdown" with an average 4.1/5 rating from 42 reviews. Readers specifically praise the empirical evidence but note it requires background knowledge in Marxist economics. Amazon reviews (12 total across all works) average 3.8/5 stars, with comments focused on the theoretical contributions rather than readability. One common review theme is that Grossman rewards patient readers but isn't suitable as an introduction to economic theory.

The Law of Accumulation and Breakdown of the Capitalist System (1929) A detailed economic analysis arguing that capitalism contains inherent tendencies toward crisis and collapse due to the falling rate of profit.

Marx, Classical Political Economy and the Problem of Dynamics (1941) An examination of Marx's economic theories in relation to classical political economy, focusing on economic motion and change over time.

Simonde de Sismondi and His Economic Theories (1924) A study of Swiss economist Sismondi's contributions to economic thought and his early critiques of classical political economy.

The Evolution of the Ancient World: Trade and Industry (1927) An analysis of economic systems and trade relations in ancient civilizations, with particular focus on production methods and class relations.

Fifty Years of Struggle: Selected Writings (1965) A posthumous collection of essays covering various topics in Marxist theory, economic history, and political economy.

Letters to Paul Mattick (1969) Correspondence between Grossman and fellow Marxist theorist Paul Mattick discussing economic theory and political developments.