The Economics of Global Turbulence: The Advanced Capitalist Economies from Long Boom to Long Downturn, 1945-2005
Verso, 2006 - 369 pagina's
For years, the discipline of economics has been moving steadily away from the real world towards formalized axioms and mathematical models with only a precarious bearing on actuality. Commentators seek to fill the gap as best they can, but in the absence of real background scholarship, journalism is vulnerable to the myopias of fashion and immediacy. The deeper enigmas of post-war development remain in either case largely untouched.
Bringing together the strengths of both the economist and the historian, Robert Brenner rises to this challenge. In this work, a revised and newly introduced edition of his acclaimed New Left Review special report, he charts the turbulent post-war history of the global system and unearths the mechanisms of over-production and over-competition which lie behind its long-term crisis since the early 1970s, thereby demonstrating the thoroughly systematic factors behind wage repression, high unemployment and unequal development, and raising disturbing and far-reaching questions about its future trajectory.
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SUPPLYSIDE EXPLANATIONS A CRITIQUE
1 The Contradictions of Keynesianism
2 Conceptual Difficulties with the SupplySide Thesis
3 Basic Evidence Against the SupplySide Argument
4 From Criticism to an Alternative
AN ALTERNATIVE APPROACH TO THE LONG DOWNTURN
2 The Failure to Adjust
3 Fixed Capital Uneven Development and Downturn
The Long Downturn
WHY THE LONG DOWNTURN? AN OVERVIEW
1 Success and Failure of the Employers Offensive
2 Why Did OverCapacity and OverProduction Persist?
3 The Growth of Debt
4 The Deepening Downturn
THE FAILURE OF KEYNESIANISM 197379
4 The Postwar Economy from Boom to Stagnation
The Long Upturn
THE PATTERN OF THE POSTWAR BOOM
THE US ECONOMY THE COSTS OF LEADERSHIP
1 Towards Stagnation in the 1950s
2 ShortTerm Recovery in the Early 1960s
GERMANY THE EXPORTDRIVEN BOOM
2 Contradictions of Internationalization Late 1950s to Mid 1960s
JAPANS HIGHSPEED GROWTH
ACCOUNTING FOR THE LONG BOOM
From Boom to Downturn
DESCENT INTO CRISIS
A Falling Rate of Profit
2 The Booms Final Phase in Japan
3 The Booms Final Phase in Germany
THE CRISIS SPREADS
2 The Crisis of the German Economy 196973
3 The Crisis of the Japanese Economy 197073
1 The US Economy in the 1970s
2 Japan in the 1970s
3 Germany in the 1970s
4 Recession Once More
THE US COUNTEROFFENSIVE
Transcending the Long Downturn?
From Bubble to Bust and Beyond
Monetarism in the Name of Exports
THE LONG DOWNTURN AND THE SECULAR TREND
A NEW LONG UPTURN?
2 A New Global Boom?
PROFIT RATES AND PRODUCTIVITY GROWTH
SOURCES FOR MAIN VARIABLES
Overige edities - Alles weergeven
accelerated advanced capitalist economies advanced capitalist world aggregate aggregate demand Alan Greenspan Asia average annual growth average annual rate billion boom capacity utilization capital accumulation capital stock cent per annum corporations crisis decade decline demand dollar domestic dynamism East Asian economy's employers employment equity especially export growth fall in profitability federal fell firms foreign direct investment G-7 economies German and Japanese Germany and Japan grew growth of real increase industries inflation interest rates Japanese economy Japanese manufacturing Keynesian labour force labour productivity long downturn macroeconomic major manufac manufacturing exports manufacturing output manufacturing sector monetarism OECD over-capacity and over-production overseas period Plaza Accord postwar epoch private business economy productivity growth profit share rate of profit real wage recession recovery reduced profitability relative result revaluation rise sharply supply-side Table technological trade ufacturing union unit labour costs wealth effect West Germany workers world economy