Rational expectations theory 194
Raw material barrier 204
Raw material, and empire before World War One 97; cheapening during long boom 165
RBS Nabisco takeover of late 1980s 279
Reagan, Ronald, economic policy 194
Real business cycle theories 5 6
Real wages, rise at end of 1 9th century 88; see also Wages, United States, Germany, Long Boom
Realist school of international relations 103
Recessions, growth, during long boom 165; of mid 1970s, explanations for 191-2; of 1980s and 1990s 224; of 2001-2, 287; panic among commentators 230; loss of manufacturing jobs 332; of 2008-9 spread to China and India 291; of 2008-9 and cutbacks in green investments 313-4
Recycling of oil funds, and growth of finance 281
Reform, economic, in Communist countries 17 6
Regional character of many multinationals 262-3
Regulation School 164
Reification 28
Reiman, Michael 15 8
Relative surplus value 34
"Rentiers" 92, 98, 1 14; "power of" 294; "euthanasia of" 162
Reproduction of labour power and productive labour 135-7
Reserve army of labour 137-8
Restructuring of capital, in slump, war
and long boom 164; in 1980s,
1990s and early 2000s 224, 234-5;
limited economic effects of 235;
and working class 335; across
national borders, and growth of
finance 281
Revisionist controversy 89
Ricardo, David 12, 24, 25, 43, 46; development of ideas of Adam Smith 22; theory of value 30; gap in his theory of value 4 7; theory of falling rate of profit 69; followers of 23
Rio Earth Summit 1992 309
Robinson, Joan, on support for economic orthodoxy by those with power 1 1; on persistence of neoclassical theories that have been refuted 44; on "Bastard Keynesianism" 162; on changed message from apologists for capitalism 192
Roosevelt, Franklin D 154
Roubini, Nouriel 300; quoted 277
Rows between governments in crisis of 2008-9 302
Rowthorn, Bob, quoted 333; on wages as cause of declining profits 197
Royalties, and role of state 266; on seeds 322
Rugman, Alan M, on non global nature of big multinationals 262
Russia 327; Tsarist, industrial development 187; slump of 1990s, scale of 210; in 1 989-91 351 see also USSR
Sablowski, Thomas, on difficulty of separating financial and industrial capitalists 298
Sachs, Jeffrey, and shock therapy 210
Samuelson, Paul, text book 1 O; critique of Marx on value and price 48; quoted on end of business cycles 191
Sao Paulo, Brazil, size of formal and informal workforces 340; Economist calls it "a Detroit in the making" 188
Sarkozy, Nicolas, warns of danger of "a European 1968" 351
Saudi Arabia 183
Savings & Loans, bail out 233
Say, Jean-Baptiste 55
Say's law 57
Schroeder, on "internal modernisation" 240
Index
419