Zombie Capitalism Global Crisis and the Relevance of Marx

Productive labour: Labour which contributes to the creation of surplus value.

Profits, mass of: Total profits of a particular capitalist. Measured in pounds, dollars and other currency.

Profit, rate of: Ratio of surplus value to capital invested. Measured as a percentage. Denoted as s/(c+v).

Profit share: Proportion of total output of a firm or country that goes in profits, as opposed to wages.

Rate of exploitation: Ratio of surplus value to wages (strictly speaking only the wages of workers who produce commodities should be counted). It can be expressed another way, as the ratio of the time the worker spends producing surplus value for the capitalist, compared to the time he or she spends on producing goods equivalent to his or her living standard. Also called rate of surplus value, that is, the ratio of surplus value to variable capital, and depicted as s/v.

Realisation: Term used by Marx to describe the successful sale of produced commodities so as to achieve a profit.

"Regulation" theorists: French school of economists influenced by Marxism who periodise 20th century capitalism into Fordist and post-Fordist phases.

Relative surplus value: Increase in surplus value obtained when time it takes for workers to produce the equivalent of their own wage is reduced, so causing a greater portion of their working time to go to the capitalist.

Rentier: Old fashioned term describing someone who lives off unearned income such as rent or dividends.

Reserve army of labour: Pool of unemployed workers used by capital to keep down the wages of those with jobs and who are able to be drawn into industry with the periodic expansion of production.

Ricardo, David: Political economist of first decades of 19th century, developed labour theory of value and an important influence on Marx's ideas.

Robinson, Joan: Radical Keynesian economist of middle third of 20th century, broke with neoclassical school but rejected Marx's theory of value.

Samuelson, Paul: Major populariser of the mainstream synthesis of neoclassical and Keynesian ideas through his economic textbook in post-war decades, and adviser to the Kennedy government in the US.

Say's law: Supposed law that holds there cannot be any general overproduction of goods because each time someone sells something someone else buys it.

Schumpeter, Joseph: Austrian economist of first half of 20th century. Supported capitalism but rejected idea that it developed smoothly, coined phrase "creative destruction".

Smith, Adam: Most important political economist of latter part of 1 8th century. Distorted presentations of his ideas now constitute apologies for capitalism, but a critical use of many of his concepts was important to Marx.

Socially necessary labour time: Labour time needed to produce a certain good, using average techniques prevailing throughout economy and working at average intensity of effort. Determines the amount of abstract labour-and therefore value-embodied in a commodity.

Social wage: Term used to describe welfare, health and other benefits supplied through the state which improve workers' living standards.

Solvency: Ability of firms or individuals to pay off all debts providing they have time to turn their own assets into cash.

Srafa, Piero: Cambridge economist who refuted basic contentions of orthodox bourgeois economics, the "neoclassical" marginalist school. His followers tend to base themselves on Ricardo rather than Marx and reject the Marxist theory of the falling rate of profit, and usually see crisis as arising when wages cut into profits. They are often known as "neo-Ricardians", although Sraffa regarded himself as in the Marxist tradition.

400

Glossary

Strachey, John: Best known purveyor of Marxist interpretations of slump of 1 930s in Britain, Labour Party minister in the late 1 940s and Keynesian apologist for right wing Labour ideas in 1950s.

Surplus value: Marx's term for excess value produced by the exploitation of workers. It forms the basis for the profit of the individual capitalist plus what he pays out to others in the form of rent, interest payments and taxation (plus what he spends on "non-productive activities"). Denoted by s.

Sweezy, Paul: American economist who wrote a path breaking account of development of Marxist ideas in 1 940s (The Theory of Capitalist Development) and, with Baran, an account of mid 20th century capitalism in 1 960s (Monopoly Capital).

Tarifs: Taxes on imports, designed to raise their price and so make it easier for local producers to dominate markets.

Taylorism: Technique of so-called "scientific management", based upon time and motion studies of every act of labour. Spread through industry in the early 20th century.

Technical composition of capital: Physical ratio of plant, machinery, raw materials and so on ( "means and materials of production") to total labour employed. When this ratio is measured in value terms rather than physical terms, it becomes the "organic composition of capital".

Terms of trade: The relative prices of a country's exports to imports. An improvement to the terms of trade means a country has to pay less for the products it imports.

Tigers: Term used for East and South East Asian industrialising economies.

Transformation problem: Problem which arises when the attempt is made to move from Marx's account of capitalism in terms of value to the prices at which goods are actually bought and sold. Many economists have claimed it is impossible to solve the problem, and that therefore Marxist economics must be abandoned.

Triad: The three major parts of the industrialised capitalist world, ie North America, Europe and Japan.

Trusts: Associations of industrial concerns which collaborate to carve up markets and force up selling prices.

Turnover time of capital: Time taken from beginning of production process to final sale of goods.

UNCTAD: United Nations Conference on Trade and Development, a development agency and important source of economic statistics.

Under-consumptionism: Theory which blames capitalist crisis not on the law of the falling rate of profit, but on the alleged inability of capitalism to provide a market for all goods produced within it. The first versions of the theory were put forward by early 19th century economists such as Jean Charles Leonard de Sismondi, but it has been developed since both by Marxists (from Rosa Luxemburg to Paul Baran and Paul Sweezy) and by Keynesians.

Use value: Immediate useful qualities of a commodity. See Exchange Value.

Glossary

401

402

Glossary

1834 Poor Law 134

1968, role of migrant workers in 173; 1968-75 wave of industrial struggles 3 31

Abalkin, on Soviet strikes 209

Absolute surplus value 33, 73

Abstract labour 26

Abstraction in three volumes of Capital 87

Accumulation and competition 35-6, 58, 85, 99, 1 16; and exploitation 37; and crisis 58, 60, 62, 101, 204, 217; and rate of profit 37-39, 69- 72, 77-78; for the sake of accumulation 36, 84; never ending 52; and class 107, 1 13-1 15; and logic of state 1 12-1 17; and USSR 158; and crisis in USSR 204; in China in early 2000s 245-6; and consumption in China in early 2000s 246 (graph 247); and crises of Eastern bloc 179; and corruption and repression 222; structures of and energy use 316 see also Capital accumulation

Accumulation of Capital, The (Rosa Luxemburg) 99

Advertising, as unproductive 121; expenditure, US in 1920s 147

Afghanistan, US occupation of 273, 327

Africa, loss of markets to China 222; growing Chinese influence in 274; rivalry between French and US interests 2 70; fall in real wages 340-1

"African socialism", disappointment with 218

"After Japan" 211

Aganbegyan, Abel, on stagnation in Soviet economy 203

Agenda 2010 Programme in Germany 240

Aglietta, Michael see Boyer, Robert

Agribusiness and agricultural technological advance 321

Agricultural accumulation, structure of 321

Agricultural capitalists 34 7

Agriculture, movement of workforce to towns, during long boom 173; investment, 322; declining growth of output 321

Alavi, Hamza, role played by middle peasants in peasant movements 348; with Teodor Shanin, on ways peasantry are integrated into capitalism 347

Alfa 221

Algeria 185

Alienated labour, system of 328

Alienation 13, 14, 28, 83

Alvater, Elmer, on German state and economy in long boom 170

American Free Trade Area 221

Amnesia of mainstream economic commentators 253

Andropov, Yuri, experience of East European crises and role in appointing Gorbachev 207

Angell, Norman, on capitalism's drive for peace 92

"Anglo-Saxon capitalism" 229, 294

Angola 185

Arab-Israeli War of 1967 184; of October 1973 1 84, 191

Argentina 188, 351; industrial development before First World, 187; industrial growth in 1950s and 1 960s; compared with Italy 1 88; economic and political crises of 1 970s 218; crisis of 2001-2 224

Index

403

Arms expenditure, US during long boom 1 98; variations between states during long boom 1 98; in 1990s and early 2000s 234; China 2009 327; Russia 2009 327; US 2009 327; US 2009 327; and dynamic of system 131; efect on organic composition of capital 234

Arrow, Kenneth, on limits of mathematical model of market 43

Asian crisis of 1 997-8 9, 242; panic among commentators 230; role of IMF in helping Ford and GM acquire Korean firms 266

Asian Tigers, growth as fast as Stalin's USSR 218 see also Asian crisis

Atkinson, Dan 163 see also Elliot, Larry

August 2007 credit crunch 8

Austrian school 1 94; and slump 145; and restructuring through crises 232 see also Hayek, Friedrich August von; Schumpeter, Joseph August von; Schumpeter, Joseph

Autonomy of state 1 10-1 12

Bail outs, in 1980s and 1990s 233; Chrysler 1979 233; 2008-9 291, 300

Baker, James 274

Baldoz, Koeber and Kraft, quoted 332

Balkan Wars of 1990s, role of different imperialist interests in 270

Banks, role in capitalist production 63- 4, 87; failures in US in 1 931 149; nationalisations in Japan, Scandinavia, in 1990s 234; Spanish and French in Latin America 240; crash of September-October 2008 277-8 290; estimates of losses in 2008 300

Bank of International Settlements 7; on failure of economic forecasts 9

Banking capital 63

Banking crises, before 2003, costs to governments of bail outs 234; see also Credit crunch

Banking mergers, international 255

Bankruptcies and crises 67, 76

Bankruptcy Year Book, quoted on increased frequency of bankruptcies 233

Baran, Paul 165, 190, 218; version of dependency theory, quoted 1 86-7; misinterprets Lenin on economic development 187

Bauer, Otto 77; claimed refutation of Rosa Luxemburg 100

Bear Stearns bank, taken over by Morgan Chase 277

Bellofiore, Riccardo, on Foreign Direct Investment 261; on "privatised Keynesianism" 288

Bermuda 221

Bernanke, Ben, on lack of an explanation for Great Depression 9,145; on decline in economic volatility 229

Bernstein, Edward, revisionist arguments of 89

Bernstein, Michael, quoted 146

Bevan, Aneurin 135

Bhopal disaster 308

Biofuels and food shortages 322

Bismarck, Otto von, provides pension 88; nationalisation of railways 1 1 5

Blackburn, Robin, on pension funds 280

Blair, Tony, and climate change 310

Bleaney, Michael 165, on Keynesianism and long boom 164

Blind Sha�, Chinese film about miners 245

Boeing/McDonnell Douglas merger, role of state in facilitating 265

Boer War, and panic over fitness of working class 134

Bohm-Bawerk, Eugen von 41, 50, 51, 67; critique of Marx on value and price 48

Boom, of 1920s, and contradictions within 144, 146; short-lived of mid to late 1980s 194; of 1 980s 283; of 1990s 283 see also Long boom

Boyer, Robert 296; quoted (with Aglietta, Michael) on asset bubbles and US boom of 1990s 283

Braunmuhl, Claudia von 104-5; on the state and world market 104

Brazil 218, 221; growth in 1 970s 188; in period 1965-80 219; "miracle"

404

Index

of the 1960s and 1970s 253; export-oriented development 219

Brenner, Neil, on role of states in accumulation 108

Brenner, Robert 71, 105; on Volker and failure of Keynesianism 296; on Japanese and German economies 170-1; critique of "Fordism" notion 64; rejects Marx's theory on falling rate of profit 69, 360; figures for rate of profit,195, 196, 235

"Bretton Woods" system 198

Brezhnev, Leonid, on competitive pressures on Soviet economy 203

BRICS 231, 327; as a disparate collection of very diferent economies 253; after Asian crisis 282; and WTO trade negotiations 274, 327

Britain, leaves gold standard 1931, 149; during long boom 170, 198; unemployment in 1950s 172; inflation early 1980s 193; restructuring in 1980s 210-11; industrial output 1 984 193; manufacturing output 1970s-2000s 241; proportion of manual workers 334; share of new investment in financial industry 295

Brittan, Samuel, from Keynesianism to monetarism and back again 194; on future of capitalism lying in East Asia 241; on falling capital-output ratio in 1960s and 1970s 197

Bronfenbrenner, Kate, on threats to move production used to demoralise workers 336

Brown, Gordon 230; on "contribution" of Lehman Brothers 287; blames irresponsible financial practices for crisis 298-9

Bryan, Dick, national dimension to global accumulation 266; on exchange rate and distribution of surplus value 266; quoted on national dimension to finance 259; (with Michael Rafferty) critique of share holder value theories, 295

Bubble economy, Japanese of 1980s, 214, 215

Bubbles of 1970s, 1980s, 1990s and

Index

early 2000s 278-9

Budget deficits 200, 216; with end of long boom 191

Buiter, Willem 1 6

Bukharin, Nicolai 77, 89,165; critique of neoclassical economics 44; refutation of Rosa Luxemburg 100- 101; theory of imperialism 95-96; compared with Lenin's theory 98- 99; lack of explanation of why imperialism could end first Great Depression 101; relevance to understanding Cold War 182

Bundesbank 240

Bureaucracy, class goal of 206

Bush, George H. W., on New World Order 258

Business cycle 5 6 see also Crises

Business Cycles in Yugoslavia 178

Business Week, on "stateless corporation" 257

Cadbury-Schweppes rationalisation of global operations 259

Call centre employment, in India 252

Callaghan, James, turns against Keynesian methods 193

Cambridge critique of neoclassical economics 10, 44

Cambridge Economic Policy Review 192

Capitalist agriculture, and peasant farmers 321, 348; and soil nutrients 320; and Green Revolution 321

Capital accumulation, "essentially national" 260; and climate change 308-314; global, kaleidoscopic pattern in 21st century 264; new centres of capital accumulation 186

Capital (Marx), different levels of abstraction in three volumes 14, 87; first chapter 21; Volume Two on interrelation between consumption and accumulation 99

Capital exports, and imperialism 98; and economic development, Lenin's view 187; low level during long boom 183; see also Foreign Direct Investment

Capital growth, greater in Japan and Germany than in US during long

405

boom 198

Capital intensive forms of production see Organic composition of capita

Capital, as a relation, not just a thing 32; constant 38; variable 38; self expansion of 37; different forms 61-2, 107

Capitalism, preconditions for 40; as a totalising system 85; global dynamic of 84; becomes global system 30

Capitalists, as embodiment of the self expansion of value 1 13; alliances between 109; as "hostile brothers" 268

Capitalist state, origins 105-107

Capital-output ratio, Britain 1875- 1901 102; in 1970s 197; for US in post war decades 371

Capitals and states 102-110, 325

Capitals in 21st century, diferent accumulation strategies 263-4

Carchedi, Guglielmo 121; on transformation of values into prices 50; on skilled and unskilled labour and value 52-3; on productive and unproductive labour 127

Carnegie, Andrew quoted on Great Depression 88

Cartels 89

Castells, Manuel, on supposed "structural instability" of labour markets 335

Casualisation 342; casual employment, not new to capitalism 341

Cheney, Dick 319

Chernobyl 308

Chesnais, Fram;:ois 293, 296

Chicago School of economists 192; see also Monetarism

Children, chronic malnutrition in lndia 252

Chile 221; growth 1977-80 219

China, as semi-colony before First World War 1 85; under Mao 1 15, 1 1 8; economic growth 188; peasants 188; primitive accumulation 243; state capitalism 243; Cultural revolution 243; stagnation in 1970s 218; new model of accumulation after 1970s 243-5; economic growth 1978-

2008 242; foreign trade growth 1 979-2007 242; overseas capitalist interests 244; growth in 1980s 244; fall in manufacturing employment from late 1990s 248; informal employment 339; rural workforce 243, 245; apparent fall in peasant incomes 245; poverty in early 2000s 245; excess of saving over investment 246, 282; imports from Japan and East Asia 217, 247; share of consumption in output (graph) 246; level of investment early 2000s 245; real estate bubble 249; unemployment 7; and global inflation of 2007-8 247; growing influence in Africa and Latin America 250, 274; share of global output of manufacturing goods 242-3; multinationals and exports 247; proportion of global buying power 250; interdependence with US 246-7, 250; and US debt 250, 281; challenge to US hegemony 271

Chortareas, Georgios, and Pelagidis, Theodore, on regional, not global, economic integration 263

Christian Democrats, ideology 164

Chrysler, bankruptcy 290

Circuits of capital 62

Clark, John Bates 42

Clark, Kenneth, on "irrelevance" of nationality of companies 257

Class, Marx's definition of 1 12-1 1 3; in itself and for itself 332, 349; character of the state bureaucracy 1 12

Class compromise theories of long boom 163, 172

Clearances 39

Clif, Tony, on military competition 117; on H-bomb and Long Boom 172

Climate change 308-314; and coal 320; weakness of international agreements 316; and food security 322; destabilising effect on system 317; food security, peak oil and economic crises 327

Coca-Cola, outlets in Germany during Second World War 269

Cohen, Robin, Gutkind, Peter, and Brazier, Phyllis 344

406

Index

Cold War 271; as struggle to divide and redivide world 180; economics of 1 80-181

Collective worker 135

Collectivisation in USSR, comparison with enclosures 158

Colonialism, before First World War, 94-5

Combined and uneven development 222

Coming Struggle for Power, The (John Strachey) 1 63

Commercial labour 123; non productive for Marx 125

Commodities, Marx's analysis of 21-28, 35

Commodity capital 62; mobility of 107

Communist countries, and competitive accumulation 178; during long boom, 175-9; economic fluctuations in 177-8

Communist Manifesto (Marx and Engels) on revolutionising of forces of production 36; and global dynamics of capitalism 84

Competition, and exploitation 37; and accumulation 85; military, and accumulation 117; and organic composition of capital 70-71; blind among East Asian "Tigers" 242

Competitive accumulation 1 1 6, 176, 325; and crisis of USSR 210; and relations between states 326-7; and carbon energy use 314

Computerisation in 1990s 235

Computers, depreciation of 236

Concentration of capital, under modern capitalism 28-29, 78-80, 303; and slump of 1930s 153; during long boom 169; and workings of law of value 79-80

Concentration geographical of capitals 264

Concrete labour 26

Congo-Zaire 185; civil war, and capitalist interests 270

Congress Party in India, accepts liberalisation of economy 220

Conservative Party, economic policies in 1950s and 1960s 162

Contemporary Capitalism (John

Strachey) 163

Continental Illinois bail out 233

Corey, Lewis 1 58; on unproductive expenditure and boom of 1920s 146-7, 367

Counter-cyclical measures 1 64

Crash of 2007-9 277-304, 325

Creative destruction 67,195, 233

Credit crunch of 2007-8 8, 1 6, 277, 290; Marx on credit crunches 66

Credit money 27, 66

Credit 27, 87, 61-67; expansion of by banks 64; during business cycle 65; in US in 1 920s 147; and trust 109

Creditanstalt 149

Cripps, Francis, on inability to understand how economy works 192

Crises 8, 55; inevitability of 58-60; and capital accumulation 217; and the falling rate of profit 75; role of credit in 64; bankruptcies during 61, 76; and restructuring of capitals 81; role in imposing law of value on enterprise 81; recovery from 61, 303; and mainstream economic theory 55-56, 67; underconsumptionist theories of 58; of 1937 in US 154; absence of during early post-war decades 68; after long boom 195-201, 325; in Eastern Europe 179; Poland 1970s 206; and internationalisation of system 301; and US hegemony 327

Crotty, James 185, 294; on financial interests and economic deterioration 293; on finance and real investment 295

Cultivation and climate change 317

Cycle of production 62

Dalits 348

Davis, Mike, quoted 342-3, 344-5

Davos, World Economic Forums, mood at, 2007-9 277

Dawes plan 147, 149

de Brunhoff, Suzanne, on national dimension to finance 259

Dead labour 13, 38, 41, 71, 84

Debreu, Gerard 43

Debt economy 280-292, 326

Debt 263, 278, 291, 300, 326,

Index

407

341,372, 377, 378, 383; Third World 223, 279; and US boom of 1990s 279; US household 1952 and 2006 278; for income groups, 294; US banks in 2008, 301; 1929 and 2008 300

Decolonisation 182-3

"Decoupling" 291

"Deindustrialisation" 332

"Deleveraging" 290

Delusion, yearsof229-31, 253,281-92

Dependency theories 1 86-8, weakness of 187; conversions of many supporters to free markets 219

Depreciation 37; and rate of profit 75, and organic composition of capital 76

Derivatives markets, origins and subsequent expansion 284

Desai, Meghnad, quoted 163-4, 230

Developmentalist ideology 186-188

Dialectics of Nature, The (Frederick Engels) 82

Dickens, Charles, quoted 307

Different configurations of global capitals 262-3

Dimensions of competition 200

Diminishing returns 69

"Direct Exploitation", a critique of concept 294

Disciplinary labour 128

Disproportionally, and development of crises 60

"Disutility" 26

Dumenil, Gerard and Levy, Dominique 296; on profit rates, 196-7; on neoliberalism and finance capital 293

Dumenil, Gerard 71, 299

Dunn, Bill, quoted 335-6

EADS, competition with Boeing 239

Eastern Europe, and German investment 241

East German, sell off of enterprises 233

Eastern bloc 1945-89 1 1 8; subordinated to military-industrial goals of USSR 180-1; during long boom 175-9; in 1990s 225

Ecological destructiveness of capitalism, recognised by Marx and

Engels 83-84

Economic cycle, and long boom 178; under state capitalism 178

Economic growth, inadequacy of normal measurements 17

Economic orthodoxy, during long boom 162

Education 334; labour 135; growth of state spending on 17 4

Effective demand 1 64

Egypt, under Nasser, not neo-colony 185; nationalisation 189; economic growth 189; Nasser's heirs embrace market 220; strikes of 2006 344

El Alto, workforce 343; uprisings 344

Electronics industry, pattern of employment internationally 335-6

Elliot, Larry 163; call for greater regulation 292

"Emerging markets", share of global investment 221-2; see also Global South, Third World

Empire (Michael Hardt and Toni Negri) 93

Empire State Building 147

Empires, European before First World War 97

Employment, industrial, in old industrial countries 333; cause of decline in US manufacturing early 2000s 262

Enclosures 39

End of Empire (John Strachey) 184

Energy security 319

Engels, Frederick 35; in Manchester 12; seeming permanent economic depression 88; on rise of capitalist state 105; on casual employment and dock strike of 1889 341-2; foresees disappearance of peasantry 346; on Bismarck's nationalisation 1 15; on pollution in Bradford 307

Enron, bankruptcy 233

Epstein, Gerald 294

Equatorial Guinea 185

Ethiopian invasion of Somalia, US backing for 274

Euromoney, and expansion of finance after 1960s 281

European capitalism, pressures on 239-40

European Community 219

408

Index

European Union, combined manufacturing output 333

Exchange rates, and role of state 265; and distribution of surplus value between capitalist classes 266

Exchange value 23, 25; in Adam Smith 22

Expenditures that do not contribute to accumulation 128-9 see also Waste, Leaks

Explaining the Crisis (Chris Harman) 14, 16

Exploitation 28-35; and accumulation 37; rate of 38; and impact on rate of profit 72-73

Export barrier 204

Export of capital see Capital exports

Export oriented development 219; and growing debt 219

Exports, role in German and Japanese economies 171

Family wage 132

Famine, Irish 40

Farmers, small, number in 21st century 322

Federal Reserve 8, 149 see also Volcker, Paul; Greenspan, Alan; Bernanke, Ben

Fertilisers in USSR 177; and global food output 321

Fetishism of commodities 33, 65; and alienation 28

Feuerbach, Ludwig, on alienation and religion 13

Fiat money 27

Fictitious accumulation 299

Fictitious capital 65; and intensification of boom-slump cycle 66

Filmer, Deon, study of world workforce 331-2

Finance and "financialisation" theories, 292-298

Finance capital 90-92; Hilferding on 89-92; Lenin on 98; Bukharin on 98; and interests of productive capital 293-4, 297, 298; during years of slump and long boom 279

Finance in recovery of 1 980s 283; blamed for deterioration of system 293-5

Index

Finance Capital (Rudolf Hilferding) 90-91

Finance, speculation and the crisis, 65-67; impact on workers budgets 279-80

Financial bubbles, and demand for output of real economy 287; in Japan late 1980s, reason for 214

Financial assets, global, and global output 1980-2005 278

Financial capital, national dimension to 259

Financial corporations, US, growth in valuation of 278

Financial crisis, of 1 907 92; increased frequency of 280; of 2007-8 1 1

Financial flows, international flows of in 1980s, 1990s and early 2000s 279

Financial industry, investment as share of total investment, US and Britain 295

Financial institutions 63; and the expansion of credit 64

Financial instruments 286

Financial labour 123

Financial protectionism 301-2

Financial system, origin of 63

Financial Times, praise for leting Lehman Brothers go bust 291

Financialisation 277-292, as temporary motor to world economy 289

Financialisation theory 292-8, 299, 385, 386

Fine, Ben, on academicisation of Marxism 48; on fog of markets caused by financialisation 299

First World War 89

Fiscal measures 149, 162 see also Keynesianism

Fischer, Irving, on problem with word "utility" 43; optimism after Wall Street Crash 144; monetarist explanation for slump 145
"Flexible production" 261

Food, and capitalism 320-322; crunch, threat of 322; price rises of 2007-8 320; security 322; production and population growth in 20th century 320-21

Ford 284; River Rouge plant 152;

409