Crisis, help (Mine)

Philip Ferguson plf13 at
Sat Nov 4 21:07:13 MST 2000

Have you read Tom Kemp's 'The Climax of Capitalism'?  It is an excellent
account of US capitalism and, I think, goes up to the early 90s.

Hasn't Anwar Shaik also written a very good book some time in the mid-90s
(maybe with someone else?) that has a lot of info on the US economy in the

A useful background read might be Paul Mattick's 'Economics and Politics in
the Age of Inflation', which covers the 70s, and his 'Marx and Keynbes; the
limits of the mixed economy'.

The classic on crisis theory remains Henryk Grossman, 'The Law of
Accumulation. . .' (Interestingly, the first book ever published by what
became the Frankfurt School).

It is the fall in the rate of profit in the real economy which drives the
rise of the bubble economy, so tracking US rates of profit in the 70s and
80s would be important.  There should be some noticeable correlation
between the reduced rate of profit in industry and the growth of the paper


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