{"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":61,"pdf_page":61,"physical_index":61,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"86ed2ab5a65cfff3ef1c528662895bf584a928a65d1463643e2a5db28ed07475"},"chapter":"Zombie Capitalism Global Crisis and the Relevance of Marx","content":"The contraction does not last forever. Some firms go bankrupt, allowing other firms to buy plant and equipment on the cheap and to cut the wages which workers are prepared to accept. Eventually, a point is reached where they can expect to get higher than average profits it they embark on a new round of investment and a new wave of expansion takes off as capitalists rush to take advantage of the better business conditions. Competition leads firms to undertake a level of investment which temporarily exceeds the existing output of new machinery, components and raw materials. The \"overproduction\" of the downturn is replaced by \"underproduction\" in the upturn, and just as prices before were below values in the slump, now they rise above values in the boom. But this only lasts until all the new plant and machinery pass into production, increasing output at the same time as reducing the value of individual goods, making some investment unprofitable and giving rise in time to yet another downturn.\n\nThe central point is that the cycle is not a result of mistaken decisions by individual capitalists or their governments, but of the very way value expresses itself in prices. This takes place through a continual oscillation with prices arising above and falling below values, not through some continuous equilibrium.\n\nThis cannot be grasped without starting with the objective contradictions expressed in the notion of value. Only by dialectically drawing out these contradictions was Marx able to provide an overview of the system's dynamic.\n\nCredit and financial capital\n\nThe spells of expansion and contraction are modified and intensified by the role played by credit-and those who play a special part in the development of this, the bankers.\n\nCapital passes through different forms in the course of capitalist production. 12 It begins as money. This is used to buy instruments and materials of production and labour power as commodities, which in turn are combined in the production process to produce other commodities. These are sold to get more money, which is then used to buy more means of production and labour power. In this way one cycle of production follows another endlessly, so that \"every element\" in it \"appears as a point of departure, transit and return\" . 13\n\nThe Dynamics of the System\n\n61","previous_page":60,"next_page":62}