The Long Wave in the World EconomyEnthusiastically received by reviewers - `It is an intellectual tour de force ... this is the most substantial synthesis of long wave theory to be published since the revival of interest in the whole topic.' - Professor Christopher Freeman |
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Page 17
... reduce its rate of profit . A less obvious nemesis is rising capital intensity , which is a response to rising labour costs , and to the advanced stage of development of the ruling technological system and the corresponding ' scaling ...
... reduce its rate of profit . A less obvious nemesis is rising capital intensity , which is a response to rising labour costs , and to the advanced stage of development of the ruling technological system and the corresponding ' scaling ...
Page 29
... reduce the rate of interest . Once the upswing is under way , however , this whole process goes into reverse . Fast ... reduced even more ; so the interest rate rises ... This monetary feedback process is a very plausible one until this ...
... reduce the rate of interest . Once the upswing is under way , however , this whole process goes into reverse . Fast ... reduced even more ; so the interest rate rises ... This monetary feedback process is a very plausible one until this ...
Page 42
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Page 46
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Page 48
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Contents
1 | |
7 | |
Technological styles | 36 |
Monetary feedback | 84 |
Population feedback | 101 |
Inequality feedback 1 In the North | 122 |
Inequality feedback 2 International and in the South | 147 |
A résumé of the theoretical argument | 183 |
A historical account 18501896 | 207 |
A historical account 18961945 | 221 |
A historical account from 1945 to the present | 248 |
The way to the next upswing | 272 |
Notes | 295 |
Bibliography | 320 |
Index | 329 |
A historical account 17801850 | 189 |
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Common terms and phrases
already American argued banks become beginning boom Britain British capital cause cent century Chapter continued cost countries course crisis cycle demand depression diffusion downswing early economic economic growth effect Europe European example expansion expected explain exports factors fall Figure firms force France French Germany gold growth hand important improvement income increase industry inequality innovations integration interest investment Italy labour land late later lead least less long wave look manufacturing North Northern once output particularly period policies political poor population position production profits reduce reform relationship relatively response result rise share shows skilled social Source South Southern steel style supply Table trade transport turn unions United upswing wages workers