non-underconsumptionist theory of effect of arms spending in long boom 165-6; on British capital exports in long boom 183; on subsidy to advanced countries from Third World through immigration 173
Kissinger, Henry, on challenges to US hegemony 272
Klein, Naomi on "footloose factories" 258
Koechlin, Tim, on US foreign investment 260; on proportion of outsourcing in US 262
Koo, Richard 216
Korean War 198; reasons for 180, US spokesman on 181
Kosygin, Alexei 203
Kotz, David, calculations of profit rates for mid 2000s 232
Krugman, Paul, on Japanese crisis of 1990s 215; on difficulties of national states dealing with global crisis 301
Kuron, Jacek, and Modzelewski, Karol, on economic crises in Soviet type economies 205-6
Kuznets, Simon 146
Kwangyang steel complex 242
Kyoto conference 309
Labour, socially necessary 41
Labour costs, socialisation of 174
Labour power 32, 36, 47; value of 85; moral element 31; labour used in reproducing 52; supply and management of 132; reproduction of 132-7; in the long boom 172-5; cost of reproduction passed on to working class family 174; overintensive exploitation of 315
Labour productivity, in US, stagnation in 1970s 202
Labour theory of value 44-5, 47, imposed on capitalists by competitive accumulation 45-6; see also Law of value
Labour time, socially necessary 25, 45, 47, 51
Labour, abstract 26
Labour, concrete 26
Labour, dequalification of, 52-3
Labour, skilled, unskilled and
value 50-3
Laclau, Ernesto, and Mouffe, Chantal 331
Landless labourers 347
Lapavitsas, Costas, on role of central banks in financial systems 109; on changes in banking system and "direct exploitation" 294
Latin America, populist regimes not neo-colonial 185; the lost decade of 1980s 220; fall in real industrial wages in 1980s 340; exports of food and raw materials to China 250; French and Spanish banks 240, 255; peasant struggles 346 see also individual countries
Law of value 26, 45; operates through pressure of capitals on each other 46; and planning within enterprise 80; operates on individual capitals through time 53; with imperialist competition between state capitalist trusts 99; and state controlled economies 118-119; and giant corporations in long boom, 169-70; on a world scale 201; under state capitalism 201; in USSR 204; and welfare and educational expenditures 1 37
Lawson, Nigel, recognises inevitability of crises 67
Leaks of surplus value from circuit of accumulation 130 see also Waste
Left internationally, attitude to USSR 157
Lehman Brothers, collapse 277
Lenin, Vladimir 77, 89, 109, 1 65, 190; theory of imperialism 93-95; critique of Kautsky on colonialism 95; quoted parrot fashion on imperialism 184; on connection between state and capital 106; on semi-colonies 185; conditions for a "pre-revolutionary crisis" 350 see also Imperialism
Less eligibility 135
Liberal government (Britain), and social reforms 88
Liberation movements 182
Lifeboat operations and economic crises 267 see also Bail outs
Lifetime of fixed capital, and rate of
414
Index