The Economics of Global Turbulence: The Advanced Capitalist Economies from Long Boom to Long Downturn, 1945-2005

Voorkant
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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Inhoudsopgave

SUPPLYSIDE EXPLANATIONS A CRITIQUE
13
1 The Contradictions of Keynesianism
16
2 Conceptual Difficulties with the SupplySide Thesis
19
3 Basic Evidence Against the SupplySide Argument
24
4 From Criticism to an Alternative
25
AN ALTERNATIVE APPROACH TO THE LONG DOWNTURN
27
2 The Failure to Adjust
29
3 Fixed Capital Uneven Development and Downturn
32
A Summary
141
The Long Downturn
143
WHY THE LONG DOWNTURN? AN OVERVIEW
145
1 Success and Failure of the Employers Offensive
146
2 Why Did OverCapacity and OverProduction Persist?
153
3 The Growth of Debt
157
4 The Deepening Downturn
159
THE FAILURE OF KEYNESIANISM 197379
164

4 The Postwar Economy from Boom to Stagnation
37
The Long Upturn
41
THE PATTERN OF THE POSTWAR BOOM
43
THE US ECONOMY THE COSTS OF LEADERSHIP
52
1 Towards Stagnation in the 1950s
53
2 ShortTerm Recovery in the Early 1960s
61
GERMANY THE EXPORTDRIVEN BOOM
67
2 Contradictions of Internationalization Late 1950s to Mid 1960s
74
JAPANS HIGHSPEED GROWTH
80
ACCOUNTING FOR THE LONG BOOM
94
From Boom to Downturn
97
DESCENT INTO CRISIS
99
A Falling Rate of Profit
101
2 The Booms Final Phase in Japan
117
3 The Booms Final Phase in Germany
120
THE CRISIS SPREADS
122
2 The Crisis of the German Economy 196973
129
3 The Crisis of the Japanese Economy 197073
133
1 The US Economy in the 1970s
165
2 Japan in the 1970s
171
3 Germany in the 1970s
179
4 Recession Once More
184
THE US COUNTEROFFENSIVE
187
Transcending the Long Downturn?
194
From Bubble to Bust and Beyond
216
Monetarism in the Name of Exports
229
Prosperity Regained?
237
THE LONG DOWNTURN AND THE SECULAR TREND
239
A NEW LONG UPTURN?
250
2 A New Global Boom?
256
DEEPENING TURBULENCE?
267
PROFIT RATES AND PRODUCTIVITY GROWTH
345
SOURCES FOR MAIN VARIABLES
349
INDEX
353
Copyright

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Over de auteur (2006)

Robert Brenner is Director of the Center for Social Theory and Comparative History at UCLA. He is the author of The Boom and the Bubble, Merchants and Revolution, The Economics of Global Turbulence and co-editor of Rebel Rank and File.

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