{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe","title":"Zombie Capitalism Global Crisis and the Relevance of Marx","author":null,"edition":null,"publisher":null,"year":null,"isbn":"9781608461042","requested_by":"printed_page","book":{"source_type":"original_book","book_id":"4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe","id":"4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe","uuid":"4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe","title":"Zombie Capitalism Global Crisis and the Relevance of Marx","normalized_title":"zombiecapitalismglobalcrisisandtherelevanceofmarx","author":null,"edition":null,"publisher":null,"year":null,"isbn":"9781608461042","isbns":["9781608461042"],"parsed":true,"ai_readable":true,"document_type":"book","page_count":426,"navigation_url":"https://workshop.closeclaw.top/ai/book/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe","title_url":"https://workshop.closeclaw.top/ai/title/Zombie%20Capitalism%20Global%20Crisis%20and%20the%20Relevance%20of%20Marx","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe","page_url":"https://workshop.closeclaw.top/api/ai/books/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe/page","search_url":"https://workshop.closeclaw.top/api/ai/books/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe/search"},"page":{"printed_page":147,"pdf_page":147,"physical_index":147,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"1825eaeeed8c7e037fb320575225c1dad216966a428f88d93d6c00113c1192c4"},"chapter":"Zombie Capitalism Global Crisis and the Relevance of Marx","content":"Superabundant capital became more and more aggressive and adventurous in its search for investment and profit, overflowing into risky enterprises and speculation. Speculation seized upon technical changes and new industries which were introduced regardless of the requirements of industry as a whole . . . 21\n\nSpending on new non-residential construction rose by more than half over the decade, and was \"most intense in the central business districts of cities\". This was most notable in New York, where work on the world's tallest building, the Empire State Building, began in 1929-only for it to be known by 1931 as \"the Empty State Building\" .22\n\nWhile the US boomed, there was also a boost to economic expansion in Europe with an inflow of American funds that could make up for some of the destruction caused by the war-the impact of the US Dawes plan of 1924 was particularly important in encouraging loans to Germany.\n\nThese factors were already losing their capacity to sustain the boom in industry before the Wall Street Crash. There was the beginning of a recession in 1927, but a brief upsurge of investment in heavy industry and autos in 1928-9 pulled the rest of the economy forward.23 Then, in the late spring and early summer of 1 929, this came to a sudden end, with a sharp fall in fixed investment24 and auto production.25 The expansion of credit and the scale of speculation that sustained unproductive expenditures had hidden the underlying problems right up to the last minute. But once there was a single tiny break in the chain of borrowing and lending that held it up, the whole edifice was bound to come tumbling down. Marx's comment on crises could not have been more apposite:\n\nThe Great Slump\n\n147","previous_page":146,"next_page":148}