--- schema_version: "library-reader-v1" source_type: "original_book" title: "Zombie Capitalism Global Crisis and the Relevance of Marx" author: null edition: null publisher: null year: null isbn: "9781608461042" library_document_id: "4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe" source_sha256: "46dee6b4497d88f0c925457d635dd321964c6f4b00bbc137e1d31adde30698c7" pdf_physical_page_count: 426 pdf_physical_page_index_base: 0 range_start: 410 range_count: 10 html_url: "https://workshop.closeclaw.top/api/ai/read/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe?start=410&limit=10" markdown_url: "https://workshop.closeclaw.top/api/ai/read/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe.md?start=410&limit=10" previous_url: "https://workshop.closeclaw.top/api/ai/read/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe.md?start=400&limit=10" next_url: "https://workshop.closeclaw.top/api/ai/read/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe.md?start=420&limit=10" --- # Zombie Capitalism Global Crisis and the Relevance of Marx > 页码规则：PDF_PHYSICAL_PAGE_INDEX 是从 0 开始的权威文件物理页索引；PRINTED_PAGE 是页面中识别出的印刷页码，可能为空，二者不得混用。 ## PDF_PHYSICAL_PAGE_INDEX=410 | PRINTED_PAGE=410 factories in Germany during Second World War 269; closure of Dagenham Assembly plant 259 Ford, Henry 35 "Fordism", theory of 164; critique of 164 Foreign Direct Investment, destinations 183; stocks, concentrated in developed countries 263; shares of different state 263; flows 1982-2006, growth of stock 1950-2007 255; not mainly on new productive capacity 261; low proportion of total US investment in recent decades 260 Formal employment 339 Former USSR, growth in 1990s 225 Forrester, Viviane quoted 258 Foster, John Bellamy 81; on peak oil 318 Fragmentation among slum dwellers 344-5 France, fall in industrial production in slump 143; economic output 1940s to 1970s 161; during long boom 170; cuts in public expenditure 240; imperialism in Africa after decolonisation 1 85; conflicting interests with US in Africa and Middle East 274 Frankenstein's monster 85 Free labour, partial negation of 175 "Freeing" of labour 40 Freeman, Alan, on unproductive labour 127 Freeman, Richard, figures on global workforce, critique of 390 Friedman, Milton 300; popularity of ideas after crisis of mid 1970s 192; denounced as Keynesian 194 Fukuyama, Francis, and "end to history" 258 GS meeting in Rostock 2007 309 Galbraith, John Kenneth 202; on planning during long boom 168-9 Garcia, Miguel Angel 49 General Electric, reliance of finance for profits 284-5 General Motors, and financial profits 284; in crisis in 2009 290 General Theory of Employment, Interest and Money (John Maynard Keynes) 149 George Bush senior, on New World Order 258 Georgian attack on Ossetia, 2008, 319; role of US 274 German capitalism, economic growth and profits in 1990s and early 2000s 240 German Ideology (Marx and Engels) quoted 81 German unification, economic efects 239 Germany, industrial output in 1920s 144; beginning of crisis in 1 928 148; fall in industrial production 1929- 33 143; economic recovery of mid and late 1 930s 155; seizure of western Poland 156; state planning during two world wars 1 15; West Germany during long boom 164, 170; economic output 1947-70 161; increase in share of global output 198; unemployment 1957, 1960 172; East Germany, crisis of 1953 179; unification, economic effects 239, and Croatian Independence 270; Social Democrat-Green government 240; fall in real wages 240; world's biggest exporter 239 Ghana 185 Giddens, Anthony 325 Gillman, Joseph 146 Global character of capital's destructiveness in 21st century 316 Global crisis, national solutions to in 1930s and today 302-3 Global Gamble, The (Peter Gowan) 293 Global South 18, 91; in long boom 182-201; state capitalism and economic growth 1 90; economic growth, unevenness of 189; and end of long boom 217-225; impact of collapse of Keynesian and Stalinisteconomic models 217-8; terms of trade 218; negotiations with multinationals 222; debt 223; inability of poor countries to attract investment 222 see also Third World, Emerging markets "Globalisation" 258, 260, 261, 264, 266, 267, 277, 281, 298, 301, 325, 410 Index ## PDF_PHYSICAL_PAGE_INDEX=411 | PRINTED_PAGE=411 351, 378, 382; realities and myths, 257-262 Glyn, Andrew 71; (with Sutcliffe) on wages as cause of declining profits 197; on financial crises 280 GM crops, no solution to global food problem 322 "Golden Age of capitalism" 161, 172, 182,191, 195, 224, 232, 290, 296, 304; see also Long boom Goldman, Josef and Korba, Karel, quoted 177 Gorbachev, Mikhail 209; on stagnation in Soviet economy 202-3 Government controls on monetary flows across borders, abandoned285 Government expenditure, and class struggle 175 Gowan, Peter, on clashes between finance and productive capital 293 Gramsci, Antonio, on state as "centaur" 1 1 1 Great Depression of 1870s and 1880s 88; and imperialism 97 Great Depression of the 1930s 9; see also Slump of 1930s Great Leap Forward 188 Greece 218 Green revolution, and increased food output 321; benefits becoming exhausted 321-2 Greenhouse gases 308 Greenspan, Alan, before US Congress 8; on "permanence" of economic expansion in 1990s 229; and new paradigm 229 Greenwash, not sufficient explanation for slow action over climate change 310 Grossman, Henryk, 204; and theory of breakdown based on rate of profit 77-78; criticism of Rosa Luxemburg, Bauer and Bukharin 1 01; theory connecting imperialism and rate of profit 101-2; destruction of values through war 131; interpretation of Marx's theory 152 Grundrisse (Marx) 129 Guano 82 Gulf states 183 Index Gunder Frank, Andre 190; denies being a Marxist 186; version of dependency theory 187 Haber-Bosch process 82 Hamilton, Clive, debate with George Monbiot 311 Hamilton, Lee 274 Handloom weavers, livelihoods destroyed by advance of capitalism 40 Hansen, Alvin 144, 146 Hanson, James 309 Hardt, Michael 331, 333; on capitalism not needing imperialism 93 see also Negri, Toni Harris, Nigel, 1 1 0; on capitalism and peace ${ \mathfrak { s } } _ { 2 } { \mathrm { : } }$ misinterpretation of Bolshevik position 187; "weakening of the drive to war" 258 Harvey, David 1 12; on "class compromise" during long boom 163 Hayashi, Fumio 215 Hayek, Friedrich August von, 149, 300; explanation for slump of 1930s 145, 151; "roundabout processes" and declining profit margins 151; guarded praise for Marx on crises 67; on inadequacies of Bohm-Bawerk's theory of capital 67 Health and education workers, in US 334 Health provision 334; and variable capital 135 Hedge funds, massive growth 284 Hegel, Georg Wilhelm Friedrich 13 Hierarchy of states, cannot be stable 270-71 Hilferding, Rudolf, 165, 279, 298; critique of neoclassical economics $4 4 ;$ analysis of early 20th century capitalism 89-91; and tendency of rate of profit to fall $7 7 ;$ ambiguities in Finance Capital ${ \mathfrak { s o } } ;$ on finance capital and war ${ \mathfrak { s o } } ;$ on division of functions within capitalist class 1 14; minister under Weimar Republic 91 see also Organised capitalism Himmelweit, Susan 71 Hindu rate of growth 189 411 ## PDF_PHYSICAL_PAGE_INDEX=412 | PRINTED_PAGE=412 Hobsbawm, Eric, on falling profit rates in 1 9th century 69 Hobson, J A 292; finance capital and imperialism 92; his alternative to imperialism 184 Hodgson, Geoff 48 Holloway, John, on instant mobility of capital 258 Holy Grail of economics 9, 145 Hong Kong 242 Hong Kong and Shanghai Banking Corporation 255 Hoover, Herbert 144 Horvat, Branko, quoted 178 Howe, Geoffrey, budget of 1979 193 Human capital 128 Hungary, revolution of 1956 207 Husson, Michel 299 Hutton, Will 163; and short-termism 294; on superiority of Japanese model 211 International capitalist class, theory of 268 IMF 230, 231; austerity packages and Asian crisis 242; quoted in favour of growth of Third World debt, 1980 220; IMF/World Bank debt relief programmes 220 Immigration controls, reasons for 173 Imperialism, and end of first Great Depression 97; and export of capital 98; and rate of profit 102; classical theory of 93-99; common criticisms of 96; defence of 96-97; weaknesses in Lenin's theory 97-98; Rosa Luxemburg's theory 99; Imperialism and World Economy (Nicolai Bukharin) 95; and economic development, Lenin's position 1 87; without formal empires184-5 Imperialism, the highest stage of capitalism (V. I. Lenin) 93 Imports, of developed countries from developing countries 263 Import-substitutionist model of development, 218; see also Developmentalist ideology, Dependency theories Incomes, in late 1920s US 146 India 17; under Nehru, not neocolony 185; economic growth 1950-81 189; per capita growth in 1960s 189; economic stagnation in 1970s 218; economy in 1990s and early 2000s 251-2; rate of accumulation since reforms 251; employment in industrial sector 252; informal employment 339; fall in real wages in organised sector in 1990s 340; pay in organised and unorganised sectors 340; inequality today 251; pavement dwellers and working class 342-3; agricultural output 189; much less important to world system than China today 251 Indonesia 185, 242; crisis of 1997-8 224, 351; anti-Chinese riots in 345 Industrial countries economic growth in 1980s and 1990; against IMF forecasts 224 Industrial capital, relative immobility of 241 Industrial complexes 109, 259 Industrial concentration across national borders 256 Industrial firms turn to finance in 1990s 284 Inflation, in mid 1970s 191; inflation barrier 204; hidden inflation 179, 204 Informal employment, in Latin America, India, China 339 Innovation, technical, and long boom 165 Instability, global 325 Intellectual property rights, and role of state 265 Interdependence between states and capitals 112 Interest rates, raised by Volcker 296; cut by Volcker 297; real in 1990s and early 2000s 297; and interests of finance 287-8; slashed to deal with credit crunch 277 Inter-imperialism rivalries, and Cold War 180, 181, 182 International Energy Agency, and "immanent oil crunch" 318 International Socialism 16 International trade, growth 1950-2007 255 412 Index ## PDF_PHYSICAL_PAGE_INDEX=413 | PRINTED_PAGE=413 Internationalisation of system and crisis of 2008-9 301 International mergers, acquisitions and alliances in 1980s and 1990s 256 Investment flows, concentrated in Triad 263 Industrial countries' investment from 1960s to early 2000 (table) 282 Investment, in US in 1920s 146; global 1960-2000s 232; uneven and spasmodic growth of productive in 1980s, 1990s and early 2000s 282; productive at low level in industrial countries in 2000s 287; inflows into US and military power 273; to stop climate change "not possible" 313; resistance to low energy investments 312 Iran 183; economy under Shah 185; in 1979 351 Iran-Iraq War, role of US in 269 Iraq Study Group 274 Iraq War of 2003 319; rationale for 273; cost of to US 274; refusal of France and Germany to back 274 Irag 185 Iraq 185 Ireland, under Fianna Fail, not neocolony 185 Iron law of wages, rejected by Marx 31 Iron rice bowl 244, 340 Israel, last example of old style colonialism 184; attack on Lebanon, 2006 274; and US imperialism 274, 184 Italian knitwear industry 261 Itoh, Makato, and Lapavitsas, Costas, finance and productive capitalists not two separate groups 298 Japan, during long boom 170-1; industrial output 1940s to 1970s 161; fixed investment 1946-61 171; increase in share of global output during long boom 198; growth through 1980s 211; crisis of 1990s 9, 21 1-217, 325; explanations for crisis of 212; rate of profit 212; investment 216; crisis compared with USSR crisis of late 1980s 217; recovery in mid 2000s based on exports of equipment to China; car firms in the US 256, 261 , 281; growth of working class 1951-98 333 Jayadev, Arjun 294 Jevons, William Stanley 41; on sunspots and economic crises 56 Jiabao, Wen, quoted on instability of Chinese economy 249 "Just in time" production methods 261 Kahn, Richard 162 Karabakh 208 Karachi, Sunni-Shia and inter-ethnic clashes 345 Kautsky, Karl 82, 292; rejects revisionist argument 89; finance capital, industrial capital and war 91-92; ultra-imperialism 92, 185; on colonialism and control of agrarian parts of world 95; on capitalist nationalisation 1 1 5 Keegan, William, 149; criticises Marx 68; and short-termism 294; on superiority of Japanese model 211 Keynes, John Maynard 10; and underconsumptionist theories of crisis 59; causes of slump 145; crisis of 1 930s 1 50; cautious 162; on rentiers 294; liking for version of labour theory of value 44-5; "Animal spirits" 150; declining marginal efficiency of capital 162; socialisation of investment 162 Keynesian measures, seen as reason for long boom 161; rarely used in long boom 163-4; failure of in late 1970s 200-1, 297; in japan in 1990s 215, 216; limited effect of 217; as national solutions 301 Keynesianism 11; as explanation for long boom, 163-5; problems with 1 95; marginalised after 1 970s 193; crisis of 1 91-3; revival during crisis of 2007-9 300; left wing illusions in 303; and neoliberalism today 303; bastard 1 62; radical 1 1 Kidron, Mike, on a world of state capitalisms 104; on Marx and productive and unproductive labour 127; on waste and organic composition of capital 130; on Marx's model and rate of profit 130- 1; on impact of arms spending 165; Index 413 ## PDF_PHYSICAL_PAGE_INDEX=414 | PRINTED_PAGE=414 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 ## PDF_PHYSICAL_PAGE_INDEX=415 | PRINTED_PAGE=415 profit 236 Lisbon Declaration 2002 239 Living in Britain 2000 334 Living labour 84; and objectified labour 33 Livingstone, Ken, praise for Gordon Brown 303 Logic of capital and greenhouse gases 315 Logic of states, counterposed to logic of capital 107 Long boom 161-192; common mistaken explanations 163,165 Long Term Capital Management hedge fund, lifeboat operation 234 Losses due to telecoms bubble 286 Lucas, Robert, on failure to understand cause of slump of 1930s 9 Luxemburg, Rosa 77, 89,132; theory of imperialism 99-101; luxury consumption of capitalist class 126; "Anti-Critique" reply to Otto Bauer 101 Macmillan, Harold 349 Mage, Shane, quoted 164-5 Mahalia al-Kubra 344 Maksakovsky, Pavel V, on Marx's theory of crisis 59-61 Malaysia 221, 242; turn to state capitalism 185; anti-Chinese riots 345 Mandel, Ernest 197; on absence of crises in Soviet economy 202 Manifesto of the Communist International to the Workers of the World, The (Leon Trotsky) 1 1 6 Mann, Michael, on limits of globalisation 261 Manual occupations in service sector 334 Manufacturing, centrality in modern society 333 Mao Zedung, death 243; see also China Marcuse, Herbert 331 Marginal efficiency of investment, and rate of profit 150 Marginal output 41; contradiction in measuring it for neoclassical theory 44 "Marginal utility" 23, 43 Marginal value of capital 44 Index Marginalist school of economics 9, 23, 41, 162; see also neoclassical school Marketisation 240 Marshall, Alfred 41; on failure of neoclassical theory when it comes to real world 10; time as a problem to be ignored 42; merits in a labour theory of value 44 Marx, Karl, and Engels, Frederick, reject Malthusianism 320; on capitalism's destructive effect on human interaction with nature 307; on productive forces 81 Marx, Karl, ideas 21-40, 55; on waste and organic composition of capital 129-30; financial profits as paper claim on real production 289; on role of finance 281; on role of credit system and fraud 64; discussion on finance in Volume Three of Capital 298; on accumulation for the sake of accumulation 204; on anarchy of market and despotism of factory 80; on capital accumulation and growth of "surplus" population 340; on capitalists as hostile brothers 268; on crises of 1846 and 1857 in Britain 152; on damage to agriculture by capitalism 82; on division of functions within capitalist class 1 1 4; on interest rate rises to protect value of money 286- 7; on labour and the natural world 81-82; on organisation of production within enterprise 79; on state machine in 19th century France 1 1 1; on sudden outbreak of crisis 148; on the state and unproductive expenditures 129; refines distinction between productive and unproductive labour in Capital 122-12; on vampire-like character of capitalism 84; skilled and unskilled labour 50; refutation of Say's law 57 Marx's theory of value, criticisms of 41 Marxist economic theory, tendency to look inwards 15; explanation of interwar slump 152-2; failures to integrate arms spending into analyses 165 415 ## PDF_PHYSICAL_PAGE_INDEX=416 | PRINTED_PAGE=416 Mass of surplus value, and accumulation 1 1 8; seeking investment in 1980s, 1990s and 2000s 281 Matthews, R C 0 163, 164 Maxwell Empire 233 McCormack, Ga van, on Keynesian measures in japan in 1 990s 216 Menger, Carl 41 Merchants' capital 107 Mergers, international as proportion of total 260; and jumping national state barriers 267 Mexico 218, 221; crisis of early 1990s 224 Michl, Thomas 195, 197 Middle classes, aspirant in poorer countries 221 Migration, state encouraged during long boom 172-3 181; reduces cost of reproducing labour power 173 Military competition, in Bukharin's theory 96; and economic competition 200 Military expenditure, and long boom 164; level during boom 165-6; by US in 2000s 273; and productive/unproductive distinction 127-8 Military hardware, continual role of 268 Military Keynesianism under Reagan 272; in 2000s 273 Military state capitalism 15 6 Military-industrial complexes 168 Mill, John Stuart 67; denies possibility of general crisis of overproduction 56 Mills, C Wright 331 Minford, Patrick 230 Mining disaster in Guangdong, China, in 2005 245 Minsky, moment 64, shifts 283 Minsky, Hyman 64 Ministry of International Trade and Industry, The (MITI) 171 Mobutu, Sese Seko 185 Modzelewski, Karol 204 Mohun, Simon 126 Monbiot, George, on Stern Report 313 Monetarism, and slump 145; takes over from Keynesianism 192-3, 297; and inflation in Britain 1980s 193; failure of in early 1980s 193, 201 "Monetary measures" 149, 162; Keynes's scepticism over 370 Money capital 61,107; mobility of 107; growth of pools of 283 Money supply, growth in Britain 1980s 194 Money, Marx's account of 27; as universal equivalent 27 Monopolies 90-91; growth of 15; and crises, according to Hilferding 91 Monopoly profits 90 Monopoly stage of capitalism, in Lenin's theory 93-5 Morales, Evo 346 Mortgage bubble of early 2000s 286 Moseley, Fred 126, 195-6, 1 97; calculations of profit rates for mid 2000s 232 Mouffe, Chantal, and Laclau, Ernesto 349 MST Brazil's landless workers movement 346 Multinationals, weight in global economy 257; dependence on home base for much profitability 260, 264; dependence on states for trade negotiations 265; and role of states in aiding accumulation 265; US, affiliate sales mainly local 261 see also Transnationality index Multinational capitals, conflicting agenda 268 Multiplier effect 162 Multipolarity 274 Mumbai, textile strike of 1982-3 345; Anti-Muslim riots of 1992-3 345 Mutual Assured Destruction (MAD) doctrine 268 Nasser, Abdul 185 see also Egypt Nation states and global crises 301 National Bureau of Economic Research 191 National Energy Policy, report of 2001 319 Nationalisation by former colonies 185 NATO 180; expansion into Eastern Europe 272 Nature, and capitalism 307 Nature of Capitalist Crisis, The (John 416 Index ## PDF_PHYSICAL_PAGE_INDEX=417 | PRINTED_PAGE=417 Strachey) 163 Nazi Germany, state planning 1 16; new investment 155 Needs of capitals and the needs of capitalism 314 Negri, Toni 93, 331, 333; see alsoHardt, Michael Nehru, Jawaharlal 185 Nehruvian "socialism" 251 Neoclassical economists 14, 51; and value 26, 41; arguments against Marx 41; theory of market clearing 42 Neoclassical school of economics, 10, 14, 22, 23, 26, 47, 53, 144, 369; critique of Marx, 41-46; contradictions in, 42, 44; failure to explain crises 9, 56; Keynes and, 44-45, 162; theory of value 43; see also Marginalist school of economics Neoliberal ideology in Global South 221 "Neoliberal" policies 240 Neo-populism 347 Net social wage in 1970s and 1980s 237-238 (graph) 237 New classical school 194 New Deal 154 New era of 1920s 144; and "new paradigm" of 1990s 236 New imperialism, similarities and differences with old imperialism 270-72, 253 "New paradigm" 229 New York Times on military contracts and global competitiveness 265 NGOs 342 Nixon, Richard, cuts US arms spending, ends "Bretton Woods" system 198 Non-productive expenditures, in capitalist competition 169; and slump of 1 930s 155 Northern Rock, toast of City dinner 287; nationalised 277 Notermans, Ton 164; quoted on Keynesianism not explaining long boom 195 Nove, Alex, quoted on Soviet growth 175 Nuclear weapons 269 Index O'Connor, James, on role of welfare benefits for capital 174 O'Hara, Phillip 248 Obama, Barack, election campaign and climate change 313; first budget 327 Offe, Claus 1 10 Off-shoring, real role 336 Oil 183; crisis of 1973-4 1 84, 191; price and Soviet economy 207 Okishio's theorem 71, 73, theoretical refutation of 74-5; empirical refutation of 197 "Old boy" networks 109 Olympia & York 233 Ophelimity 43 Organic composition of capital, in Marx, 38; and technical advance 70; at end of 19th century 102; during long boom 168; in 1990s 234; in China in early 2000s 248 Organised capitalism, Hilferding's theory of 91 "Outsourcing" overseas, limits to scale of 262 Over-accumulation, under state capitalism 179; in USSR 177; overinvestment in China mid-2000s 248 Overproduction 61, 178; of telecoms bandwidth in 1990s 286; endemic according to Rosa Luxemburg 100 Overseas investment, during Cold War 181 Panic of November 2008 290 Pareto, Vilfredo 42, 43 Peak oil 31 8-20; implication over decades 319; does not counter climate change 320 Pearl Harbour 156 Peasantry 346-9; persistence of in Asia and Africa 346; differentiation within 347, 348; doing nonagricultural labour 332; Chinese 243 Peasants and Proletarians: the struggles of Third World workers (Robin Cohen, Peter C W Gutkind, Phyllis Brazier) 344 Pensions, Germany under Bismarck 88; during long boom 174 Pentagon, report on global insecurity resulting from climate change 328 417 ## PDF_PHYSICAL_PAGE_INDEX=418 | PRINTED_PAGE=418 Permanent arms economy, as explanation for long boom 165- 168; contradictions in 1 98-9 Pigou, Arthur Cecil 145 Plaza Accord of 1985 214, 266 Poland, crises of 1970s and 1980s 206-7; 1980-8 1, 351; significance for whole Eastern bloc 206-7 Polarisation of classes 87 "Political capitalists" 1 15 Political Economy of Growth, The (Paul Baran) 186 Pollution, in 19th century 307 Ponzi schemes 64, 283 Portugal 218 Posco 242 Post industrial society, theories of 331, 332 Poverty, in China in early 2000s 245; in India in 1990s and early 2000s 252; in USSR in late 1980s 208 Pravda on unemployment in USSR 208 Prebisch, Raoul 186 Precarious jobs, real levels in Western Europe, 336-7 Preobrazhensky, Evgeny 159; on slump of 1930s 153; impact of world crisis on USSR 158 Prescott, Edward C, on failure to understand cause of slump of 1930s 9; on Japanese crisis of 1990s 215 Price signals and climate change 311 Price and values 46; deviations from values 87 Primitive accumulation 39-40, 132, 258-9; and slavery 40; in USSR 176; China 245 Primitive communism 21 Private equity funds 279 Privatised Keynesianism 288 Productive and unproductive labour, 121-6; distinction does not depend on physical form of output 121; and accumulation 125; and commerce 125; Kidron on 127; Carchedi on 12 7 Productive capital 18, 107; twofold character of 108; and state 108; relative immobility of 107-8, 335; source of funds for banks 65; multinational, and rise of finance 281 Productive capitalists and credit 62-4 Productive forces, can become destructive 81 Productive labour, and dynamic of system as whole 125 Productivity of labour, and rate of profit 73; Europe stops catching up with US in 1990s 239 Profit margins, China mid 2000s 248 Profit rate, theory of tendency to fall, Marx on centrality of theory 69; and crisis 75-78; countervailing tendencies 72; some Marxists critical of theory 69; Marxist theory after Marx 77; and state capitalism 201 Profit rates, equalisation of 87; falling in mid 19th century 88; recovery in Britain in 1890s 88; before and after First World War 151; from 1970s to early 2000s 232; fall in, and attractiveness of financial investment 281; claims that they recovered sufficiently in 1 990s 299 and investment, in Japan 171 Profitability, in China, and low international value of Yuan 289; and investment in low energy production 31 1-12 Project for a New American Century and US hegemony 272 Proletarianisation of public sector employees 138 Protectionism 145, 302; Hilferding's account of rise of 90 Proxy wars, typical of present period 269 Public expenditures and class struggle 138 Public works 216 "Pump priming" and slump of 1930s 155 Purchasing Power Parity 250 Quantitative easing 301 Raju, Ramalinga, India's "Young Entrepreneur of the Year" 287 Rate of profit, and productivity of labour 73 and imperialism 102; and investment 76; effect of arms expenditure on 131; and turnover time of capital 235; under state capitalism 1 1 7-119; in long boom and after 164, 195-7; and end of long boom 200; and Japanese crisis of 1990s 216; and restructuring through crisis 232; in China in 1990s and early 2000s, estimates 248; and wages and crisis 76 418 Index ## PDF_PHYSICAL_PAGE_INDEX=419 | PRINTED_PAGE=419 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 下一段：[继续读取](https://workshop.closeclaw.top/api/ai/read/4a3d22bd-c5b9-47a4-a022-bd35d44d9bfe.md?start=420&limit=10)