Africa

Patrick Bond pbond at SPAMwn.apc.org
Wed Feb 7 09:37:44 MST 2001


> From:          "Ulhas Joglekar" <ulhasj at bom4.vsnl.net.in>
> Date:          Tue, 6 Feb 2001 22:03:27 +0530
> Patrick:
> > It's the cause! Specifically, at stake is investment that drives up
> > the organic composition of capital, in a competitive frenzy, well
> > beyond the point that the output can be consumed.
> Is there any empirical basis to show that there was an abnormal rise in the
> organic composition of capital in East and South East Asia just before the
> crisis? And higher rate of surplus value can surely compensate for higher
> organic composition of capital? Was the rate of surplus value same or lower
> just before the crisis years?

The best english-language source on the region is surely the book by
Burkett and Hart-Landsberg, "Development, Crisis and Class Struggle:
Learning from Japan and East Asia" (St Martin's Press). It has
lots of data on overproduction, but doesn't do a whole lot (beyond
specifying Dept'1 v 2 in Japan) on OCC or s.v.rates. But Marty and
Paul know the answers, I suspect, and I'll cc them.

(If you are looking for an empirical example, I did the #s in my PhD
study of Zimbabwe, published a couple of years ago by Africa World
Press...)

Cheers,
Patrick






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