Capitalist Development and Crisis Theory: Accumulation, Regulation and Spatial Restructuring

414 Pages·1989·37.97 MB·English

by  M. Gottdiener

CAPITALIST DEVELOPMENT AND CRISIS
THEORY
Accumulation, Regulation and Spatial Restructuring
Also by M. Gottdiener
CITIES IN STRESS (editor)
THE CITY AND THE SIGN (editor with Alexandros Ph. Lagopoulos)
THE DECLINE OF URBAN POLITICS
PLANNED SPRAWL
THE SOCIAL PRODUCfiON OF URBAN SPACE
Also by Nicos Komninos
THEORY OF URBANITY (in Greek, 3 vols)
URBAN DEVELOPMENT AND PLANNING (in Greek)
ESPACE URBAIN, ARCHITECfURE ET IDEOLOGIE
Capitalist Develop01ent
and Crisis Theory:
Accumulation,
Regulation and Spatial
Restructuring
Edited by
M. Gottdiener
Professor of Sociology and Chair, Urban Studies
Program
University of California, Riverside
and
Nicos Komninos
Assistant Professor of Urban Planning,
Aristotelean University of Thessaloniki
Palgrave Macmillan
ISBN 978-1-349-19962-4 ISBN 978-1-349-19960-0 (eBook)
DOI 10.1007/978-1-349-19960-0
© M. Gottdiener and N. Komninos 1989
Softcover reprint of the hardcover 1st edition 1989 978-0-333-45582-1
All rights reserved. For information, write
Scholarly and Reference Division,
St. Martin's Press, Inc., 175 Fifth Avenue, New York, NY 10010
First published in the United States of America in 1989
ISBN 978-0-312-02102-3
Library of Congress Cataloging-in-Publication Data
Capitalist development and crisis theory.
Includes index.
1. Capitalism. 2. Business cycles. 3. Saving
and investment. I. Gottdiener, Mark. II. Komninos,
Nicos
HB501.C24273 1989 338.9 88-15848
ISBN 978-0-312-02102-3
To the memory of Gregory Garwick and Thora
Paulson- M.G.
To Elena and Alexandros- N.K.
Contents
List of Figures IX
List of Tables X
Acknowledgements xi
Notes on the Contributors xiii
Introduction 1
M. Gottdiener and N. Komninos
PART I THEORIES OF LATE CAPITALISM AND
CRISIS
2 An Introduction to a Theory of Crisis Theories 21
James O'Connor
3 Theories of Crisis: An Explanation of the 1974-82 Cycle 30
Ernest Mandel
4 Three Crises: The Metamorphoses of Capitalism and the
Labour Movement 59
Alain Lipietz
PART II INTERNATIONALISATION OF
ACCUMULATION: THE CRISIS OF INTEGRATION,
TRADE AND DEBT
5 The Uncoupling of the World Order: A Survey of Global
Crisis Theories 99
John Bellamy Foster
6 Nation-State and European Integration: Structural
Problems in the Process of Economic Integration within
the European Community 123
Klaus Busch
7 The Problem of Capitalist Development: Theoretical
Considerations in View of the Industrial Countries and
the New Industrial Countries 154
John Milios
viii Contents
8 Industrialisation, De-industrialisation and Uneven
Development: The Case of the Pacific Rim 174
Mike Berry
9 The Infernal Logic of the Debt Crisis 217
Ernest Mandel
PART III CRISIS IN THE MODE OF REGULATION:
THE RESTRUCTURING OF THE WELFARE STATE
10 Economic Crisis and Welfare State Recommodification:
A Comparative Analysis of the United States and Britain 237
Desmond King
11 Conservative Regimes and the Transition to
Post-Fordism: The Cases of Great Britain and West
Germany 261
Bob Jessop
12 Political Regulation: The Crisis of Fordism and the
Transformation of the Party System in West Germany 300
Juergen Haeusler and Joachim Hirsch
PART IV CAPITALIST RESTRUCTURING AND
SPATIAL CHANGE
13 The Change of Regional Inequality in the Federal
Republic of Germany 331
Hartmut Hiiusermann and Thomas Kriimer-Badoni
14 From National to Local: The Janus Face of Crisis 348
Nicos Komninos
15 Crisis Theory and Socio-Spatial Restructuring: The US
Case 365
M. Gottdiener
16 Financial Crises and the Evolution of Capitalism: The
Crash of '87-What Does it Mean? 391
Hyman P. Minsky
Index 404
List of Figures
3.1 Cyclical evolution of productive investment in the
private sector of seven major countries 48
3.2 Taxes on profits and corporate profits in Great Britain
showing mutual decrease of taxes and profits 49
6.1 Development of the Price Index for Consumer Goods
in selected countries (1976-82) 134
6.2 Bilateral Foreign Trade Balances between the FOR
and other selected EC countries (in billion OM)
1972-82 137
6.3 Bilateral Foreign Trade Balances (15 specified
sub-groups of goods of the industrial statistics) between
the FOR and selected EC states (in billion OM)
1972-82 138
List of Tables
3.1 Evolution of strike struggles (in yearly averages) 45
6.1 Real gross national product, productivity, real wages
and consumer prices (the average annual percentage
change) 132
6.2 Change of the ECU parity of the EC currencies from
March 1979 until August 1986 (per cent) 135
6.3 Changes of the bilateral OM exchange rate vis-a-vis
different European currencies 1979-81 135
8.1 Selected growth rates 177
8.2 Sector share of industry, selected countries 179
8.3 Distribution of manufacturing added, 1981 (per cent) 180
8.4 Export growth, selected countries 180
8.5 Origin and destination of merchandise exports (per
cent) 182
8.6 Japanese direct investment, 1984-85 209
9.1 Accumulated debt at end-1985 218
9.2 Clandestine export of capital from selected countries 222