Specifically, the basic contradiction of capitalism is directly manifested as the contradiction between the organized and planned production of individual enterprises and the anarchy of production of the whole society; It is manifested in the contradiction between the infinite expansion of capitalist production and the relatively shrinking demand of working people who have the ability to pay, that is, the contradiction between production and consumption. The intensification of these two contradictions will inevitably lead to the outbreak of capitalist economic crisis. The periodic occurrence of capitalist economic crisis includes four stages: crisis, depression, recovery and upsurge. Crisis is the end of the last cycle and the starting point of the next cycle. In the depression stage, production is at a standstill, while preparing for the recovery stage. In the recovery stage, the contradiction between production and consumption was further eased, and social production was gradually restored and further developed, which made the economy prosperous and formed a high tide. The upsurge has accumulated various contradictions in the capitalist economy to a certain extent, and a new round of economic crisis has broken out. Fixed capital renewal is the material basis for the periodicity of capitalist reproduction. Large-scale fixed capital renewal will expand production capacity, cause high production and lay a material foundation for the next overproduction crisis.