The 1846-7 depression was the first pure crisis of capitalist overaccumulation.
Evidence
The depression that swept out of Britain in 1 846- 7 and which quickly engulfed the whole of what was then the capitalist world, can justly be regarded as the first unambiguous crisis of capitalist overaccumulation. — David Harvey, The Condition of Postmodernity, 1642
Categorization
- DEFINE: Establishes what ‘overaccumulation’ means as a distinct crisis category — not caused by nature or war.
- XREF: connects to: Depression and slavery-era crises both fundamentally transformed capitalist relations; The 1847-8 crisis proved capitalism generates crises from its own internal workings. — David Harvey, The Condition of Postmodernity: An…, 1643
Broader Connections
- The 1847-8 crisis proved capitalism generates crises from its own internal workings.
#corroborates(0.85) — David Harvey, The Condition of Postmodernity, 1643 - Depression and slavery-era crises both fundamentally transformed capitalist relations
#expands(0.78)