Maturity and Stagnation in American CapitalismDetails a pattern of development and investment in the American economy that produces diminished growth and increased stagnation. |
Contents
PART I | 1 |
THE CONCEPT OF EXCESS CAPACITY | 9 |
THE IMPORTANCE OF COST DIFFERENTIALS | 18 |
SELLING COST AND QUALITY COMPETITION | 55 |
THE COMPETITION OF CAPITAL BETWEEN INDUSTRIES | 66 |
PART II | 107 |
THE CONSEQUENCES OF UNDESIRED EXCESS CAPACITY | 127 |
THE JOINT STOCK SYSTEM AND THE MODERN CAPITAL | 138 |
Gross and net capital | 175 |
The ratio of capital to output | 187 |
The turning point of capital accumulation | 191 |
THE LONGRUN THEORY OF INVESTMENT | 192 |
A model of longrun growth | 196 |
the case of constant utilisation | 207 |
variable utilisation | 211 |
KARL MARX AND THE ACCUMULATION OF CAPITAL | 228 |
A priori reasons for a decline in share yields | 145 |
Data relating to the development of Joint Stock Companies | 148 |
The net effect of the joint stock system | 153 |
Effects on the maldistribution of funds | 155 |
the rate of profit fall? | 169 |
The law of accumulation | 229 |
The declining rate of profit | 240 |
Underconsumption and the crisis of capitalism | 243 |
| 247 | |
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Common terms and phrases
adjustment assume assumption average business capital capital accumulation capital stock capitalists cent concentrated industries considerable constant Das Kapital debt decline degree of utilisation demand depreciation determined differential distribution cost dividends economic effect elasticity entrepreneurs equation equipment excess capacity expansion explain factors function funds gearing ratio greater gross capital gross profit margins growth of capital imperfect competition important increase inelastic influence internal accumulation investment labour level of utilisation limit long run manufacturing marginal firms marginal producer margins at given Marx national income net profit margin normal profits obtained oligopolistic industries oligopoly period plant possible price cutting profit rate progressive firms proportion rate of growth rate of profit real capital real wages reduced relative sales effort savings sector selling costs selling methods share issues share of wages steel surplus value Table technical tendency theory trend utilisation of capacity value added WAGES IN VALUE