Postcapitalism: A Guide to Our Future - Paul Mason (2015)
Notes
INTRODUCTION
1. http://www.worldbank.org/en/country/moldova/overview
2. ‘Policy challenges for the next 50 years’, OECD, 2014
3. http://openeurope.org.uk/blog/greece-folds-this-hand-but-long-term-game-of-poker-with-eurozone-continues/
4. L. Cox and A. G. Nilsen, We Make Our Own History (London, 2014)
5. http://oll.libertyfund.org/titles/2593#Thelwall_RightsNature1621_16
6. M. Castells, Alternative Economic Cultures, BBC Radio 4, 21 October 2012
7. D. Mackie et al, ‘The Euro-area Adjustment: About Halfway There’, JP Morgan, 28 May 2013
PART I
1. C. Kindleberger, Comparative Political Economy: A Retrospective (Cambridge, MA, 2000), p. 319
1. NEOLIBERALISM IS BROKEN
1. P. Mason, ‘Bank Balance Sheets Become Focus of Scrutiny’, 28 July 2008, http://www.bbc.co.uk/blogs/newsnight/paulmason/2008/07/bank_balance_sheets_become_foc.html
2. http://archive.fortune.com/2007/11/27/news/newsmakers/gross_banking.fortune/index.htm
3. P. Mason, Meltdown: The End of the Age of Greed (London, 2009)
4. http://www.telegraph.co.uk/finance/financetopics/davos/9041442/Davos-2012-Prudential-chief-Tidjane-Thiam-says-minimum-wage-is-a-machine-to-destroy-jobs.html
5. http://ftalphaville.ft.com/2014/02/07/1763792/a-lesson-from-japans-falling-real-wages/; http://www.social-europe.eu/2013/05/real-wages-in-the-eurozone-not-a-double-but-a-continuing-dip/; http://cep.lse.ac.uk/pubs/download/cp422.pdf
6. D. Fiaschi et al, ‘The Interrupted Power Law and the Size of Shadow Banking’, 4 April 2014, http://arxiv.org/pdf/1309.2130v4.pdf
7. http://www.theguardian.com/news/datablog/2015/feb/05/global-debt-has-grown-by-57-trillion-in-seven-years-following-the-financial-crisis
8. http://jenner.com/lehman/VOLUME%203.pdf p 742
9. http://www.sec.gov/news/studies/2008/craexamination070808.pdf p12
10. http://www.investmentweek.co.uk/investment-week/news/2187554/-done-for-boy-barclays-libor-messages
11. J. M. Keynes, The General Theory of Employment, Interest and Money (Cambridge, 1936), p. 293: http://www.marxists.org/reference/subject/economics/keynes/general-theory/ch21.htm
12. http://www.ftense.com/2014/10/total-global-debt-crosses-100-trillion.html
13. http://www.internetworldstats.com/emarketing.htm
14. http://cleantechnica.com/2014/04/13/world-solar-power-capacity-increased-35-2013-charts/
15. L. Summers, ‘Reflections on the New Secular Stagnation Hypothesis’, in C. Teulings and R. Baldwin (eds.), Secular Stagnation: Facts, Causes, and Cures, VoxEU.org (August 2014)
16. R. Gordon, ‘The Turtle’s Progress: Secular Stagnation Meets the Headwinds’ in Teulings and Baldwin (eds.), Secular Stagnation
17. http://www.constitution.org/mon/greenspan_gold.htm
18. http://www.treasury.gov/ticdata/Publish/mfh.txt
19. R. Duncan, The New Depression: The Breakdown of the Paper Money Economy (Singapore, 2012)
20. http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/18/breaking-inside-the-feds-2007-crisis-response/?wprss=rss_ezra-klein
21. http://www.economist.com/blogs/freeexchange/2011/08/markets-and-fed
22. http://www.multpl.com
23. http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
24. http://www.economist.com/blogs/freeexchange/2013/11/unconventional-monetary-policy
25. D. Schlichter, Paper Money Collapse: The Folly of Elastic Money (London, 2012), loc 836
26. D. Graeber, Debt: The First 5000 Years (London, 2011)
27. G. R. Krippner, ‘The Financialization of the American Economy’, Socio-Economic Review, 3, 2 (May 2005), p. 173
28. C. Lapavitsas, ‘Financialised Capitalism: Crisis and Financial Expropriation’, RMF Paper 1, 15 February 2009
29. A. Brender and F. Pisani, Global Imbalances and the Collapse of Globalised Finance (Brussels, 2010)
30. F. Braudel, Civilization and Capitalism, 15th-18th Century: The Perspective of the World (Berkeley and Los Angeles, 1992), p. 246
31. IMF, ‘World Economic Outlook’, October 2013
32. Brender and Pisani, Global Imbalances, p. 2
33. B. Eichengreen, ‘A Requiem for Global Imbalances’, Project Syndicate, 13 January 2014
34. http://www.tradingeconomics.com/china/foreign-exchange-reserves
35. http://www.imf.org/external/np/sta/cofer/eng/
36. L. Floridi, The Philosophy of Information (Oxford, 2011), p. 4
37. M. Foucault, The Birth of Biopolitics: Lectures at the Collège de France, 1978-79, trans. G. Burchell (New York, 2008)
38. http://www.techopedia.com/definition/29066/metcalfes-law
39. ‘Measuring the Internet Economy: A Contribution to the Research Agenda’, OECD, 2013
40. H. Braconier, G. Nicoletti and B. Westmore, ‘Policy Challenges for the Next 50 Years’, OECD, 2014
2. LONG WAVES, SHORT MEMORIES
1. N. Kondratieff, Letter, 17 November 1937, in N. Makasheva, W. Samuels and V. Barnett (eds.), The Works of Nikolai D. Kondratiev (London, 1998), vol. IV, p. 313
2. Makasheva, Samuels and Barnett (eds.), Nikolai D. Kondratiev, vol. I, p. 108
3. E. Mansfield, ‘Long Waves and Technological Innovation,’ The American Economic Review, 73 (2) (1983), p. 141, http://www.jstor.org/stable/1816829?
4. G. Lyons, The Supercycle Report (London, 2010)
5. C. Perez, ‘Financial Bubbles, Crises and the Role of Government in Unleashing Golden Ages’, FINNOV, London, January 2012
6. N. Kondratieff, ‘The Long Wave Cycle’, trans. G. Daniels (New York, 1984), pp. 104-5. (I have chosen to use the Daniels translation of the 1926 paper because on several issues of terminology it is in better English than the one in Makasheva et al.)
7. Ibid., p. 99
8. Ibid., p. 68
9. Ibid.
10. Ibid., p. 93
11. https://www.marxists.org/archive/trotsky/1923/04/capdevel.htm
12. Kondratieff, ‘The Long Wave Cycle’, p. xx
13. Makasheva, Samuels and Barnett (eds.), Nikolai D. Kondratiev, vol. I, p. 116
14. Ibid., p. 113
15. J. L. Klein, ‘The Rise of “Non-October” Econometrics: Kondratiev and Slutsky at the Moscow Conjuncture Institute’, History of Political Economy, 31:1 (1999), pp. 137-68
16. E. Slutsky, ‘The Summation of Random Causes as the Source of Cyclical Processes’, Econometrica, 5 (1937), pp. 105-46, quoted in V. Barnett, ‘Chancing an Interpretation: Slutsky’s Random Cycles Revisited’, European Journal of the History of Economic Thought, 13:3 (September 2006), p. 416
17. Klein, ‘Rise of “Non-October” Econometrics’; p. 157
18. Slutsky, quoted in ibid., p. 156
19. For a summary of statistical critiques of Kondratieff see R. Metz, ‘Do Kondratieff Waves Exist? How Time Series Techniques Can Help to Solve the Problem’, Cliometrica, 5 (2011), pp. 205-38
20. A. V. Korotayev and S. V. Tsirel, ‘A Spectral Analysis of World GDP Dynamics: Kondratieff Waves, Kuznets Swings; Juglar and Kitchin Cycles in Global Economic Development and the 2008-09 Economic Crisis’, Structure and Dynamics, 4 (1) (2010)
21. C. Marchetti, ‘Fifty Year Pulsation in Human Affairs: An Analysis of Some Physical Indicators’, Futures, 17 (3) (1987), p. 376
22. J. Schumpeter, Business Cycles: A Theoretical, Historical and Statistical Analysis of the Capitalist Process (New York, 1939), p. 82
23. Ibid., p. 213
24. C. Perez, Technological Revolutions and Finance Capital: The Dynamics of Bubbles and Golden Ages (Cheltenham, 2002), p. 5
3. WAS MARX RIGHT?
1. K. Marx, Capital, vol. 3 (Chicago, 1990), http://www.marxists.org/archive/marx/works/1894-c3/ch15.htm
2. https://www.marxists.org/archive/marx/works/1894-c3/ch27.htm
3. K. Marx, Preface to A Contribution to the Critique of Political Economy (Moscow, 1977), http://www.marxists.org/archive/marx/works/1859/critique-pol-economy/preface-abs.htm
4. K. Kautsky, The Class Struggle (1892), trans. by William E. Bohn and Charles H. Kerr (Chicago, 1910), p. 83
5. H. and J. M. Tudor, Marxism and Social Democracy: The Revisionist Debate, 1896-8 (Cambridge, 1988)
6. G. Kolko, The Triumph of Conservatism: A Reinterpretation of American History 1900-1916 (New York, 1963)
7. http://www.slate.com/articles/technology/technology/features/2010/the_great_american_information_emperors/how_theodore_vail_built_the_att_monopoly.html
8. http://www.hbs.edu/faculty/Publication%20Files/07-011.pdf
9. L. Peters, ‘Managing Competition in German Coal, 1893-1913’, The Journal of Economic History, 49/2 (1989), pp. 419-33.
10. H. Morikawa, Zaibatsu: Rise and Fall of Family Enterprise Groups in Japan (Tokyo, 1992)
11. Kolko, The Triumph of Conservatism
12. K. O’Rourke, ‘Tariffs and Growth in the Late 19th Century’, The Economic Journal, 110 (2000), pp. 456-83
13. http://www.worldeconomics.com/Data/MadisonHistoricalGDP/Madison%20Historica%20GDP%20Data.efp
14. http://www.marxists.org/archive/hilferding/1910/finkap/preface.htm
15. P. Michaelides and J. Milios, ‘Did Hilferding Influence Schumpeter?’, History of Economics Review, 41 (Winter 2005), pp. 98-125
16. https://www.marxists.org/archive/lenin/works/1916/oct/x01.htm
17. R. Luxemburg, The Accumulation of Capital (New Haven, 1951), p. 468
18. bentinck.net, Berlin Cinemas, 1975
19. http://www.marxists.org/archive/lenin/works/1916/imp-hsc/ch10.htm
20. http://www.marxists.org/archive/bukharin/works/1917/imperial/15.htm
21. K. Kautsky, ‘Ultra-imperialism’, Die Neue Zeit, September 1914, http://www.marxists.org/archive/kautsky/1914/09/ultra-imp.htm
22. M. Ried, ‘A Decade of Collective Economy in Austria’, Annals of Public and Cooperative Economics, vol. 5 (1929), p. 70
23. E. Varga, ‘Die Wirtschaftlichen Problem der proletarischen Diktats’, quoted in H. Strobel, Socialisation in Theory and Practice (London, 1922), p. 150
24. J. M. Keynes, The Economic Consequences of the Peace (New York, 1920), p. 1, http://www.econlib.org/library/YPDBooks/Keynes/kynsCP1.html
25. E. Varga, The Great Crisis and its Political Consequences; Economics and Politics. 1928-1934 (London, 1935), p. 20
26. http://www.marxists.org/archive/trotsky/1938/tp/tp-text.htm
27. http://www.marxists.org/archive/bukharin/works/1928/09/x01.htm
28. http://www.internationalviewpoint.org/spip.php?article1894
29. http://larrysummers.com/wp-content/uploads/2014/06/NABE-speech-Lawrence-H.-Summers1.pdf
30. C. Perez, Technological Revolutions and Finance Capital: The Dynamics of Bubbles and Golden Ages (Cheltenham, 2002)
31. Calculated from Maddison data for 1950, http://www.ggdc.net/maddison/oriindex.htm
4. THE LONG, DISRUPTED WAVE
1. A. Horne, Macmillan: The Official Biography, vol. II (London, 1989)
2. N. Crafts and G. Toniolo, ‘Postwar Growth: An Overview’, in N. Crafts and G. Toniolo, Economic Growth in Europe since 1945 (Cambridge, 1996), p. 4
3. Maddison data
4. Crafts and Toniolo, Economic Growth in Europe, p. 2
5. S. Pollard, The International Economy since 1945 (London, 1997), loc 232
6. http://www.russellsage.org/sites/all/files/chartbook/Income%20and%20Earnings.pdf
7. http://www.esri.go.jp/jp/workshop/050914/050914moriguchi_saez-2.pdf
8. G. Federico, Feeding the World: An Economic History of Agriculture 1800-2000 (Princeton, 2005), p. 59; C. Dmitri, A. Effland and N. Conklin, ‘The 20th Century Transformation of US Agriculture and Farm Policy’, USDA Economic Information Bulletin 3, 2005
9. C. T. Evans, ‘Debate in the Soviet Union? Evgenii Varga and His Analysis of Postwar Capitalism, 1946-1950’, Essays in History, 32 (1989), pp. 1-17
10. E. Varga, Izmeneniia v ekonomike kapitalizm v itoge vtoroi mirovoi voiny (Moscow, 1946)
11. http://www.marxist.com/TUT/TUT5-I.html
12. A. Crosland, The Future of Socialism (London, 1956)
13. P. Baran and P. Sweezy, Monopoly Capital: An Essay on the American Social Order (New York, 1966)
14. http://external.worldbankimflib.org/Bwf/60panel2.htm
15. H. Hazlitt, ‘For World Inflation?’, 24 June 1944, in H. Hazlitt, From Bretton Woods to Inflation: A Study of Causes and Consequences (Chicago, 1984), p. 39
16. J. A. Feinman, ‘Reserve Requirements: History, Current Practice, and Potential Reform’, Federal Reserve Bulletin, June 1993, p. 587
17. C. Reinhart and B. M. Sbrancia, ‘The Liquidation of Government Debt’, NBER Working Paper 16893, March 2011, p. 21, http://www.nber.org/papers/w16893
18. Ibid., p. 38
19. I. Stewart, Organizing Scientific Research for War, An Administrative History of the Office of Scientific Research and Development (Boston, 1948), p. 19
20. Ibid., p. 59
21. J. Gleick, The Information: A History, a Theory, a Flood (New York, 2011), loc 2998
22. A. Glyn et al, ‘The Rise and Fall of the Golden Age’, WIDER Working Paper 43, April 1988, p. 2
23. http://www.nber.org/chapters/c9101.pdf p485
24. http://irps.ucsd.edu/assets/001/500904.pdf
25. Glyn et al, ‘The Rise and Fall of the Golden Age’, p. 112
26. Ibid., p. 23
27. See, for example, P. M. Garber, ‘The Collapse of the Bretton Woods Fixed Exchange Rate System’, in M. Bordo and B. Eichengreen, A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform(Chicago, 1993), pp. 461-94
28. M. Ichiyo, ‘Class Struggle and Technological Innovation in Japan since 1945’, Notebooks for Study and Research, 5 (1987), p. 10
29. ‘The Sick Man of the Euro’ The Economist, 3 June 1999, http://www.economist.com/node/209559
30. http://www.washingtonpost.com/blogs/worldviews/wp/2015/02/20/germanys-economy-is-the-envy-of-europe-so-why-are-record-numbers-of-people-living-in-poverty/
31. G. Mayer, ‘Union Membership Trends in the United States,’ Congressional Research Service, 2004
32. J. Vissier, ‘Union Membership Statistics in 24 Countries’, Monthly Labor Review, January 2006, p. 38, http://www.bls.gov/opub/mlr/2006/01/ art3full.pdf
33. E. Stockhammer, ‘Why Have Wage Shares Fallen? A Panel Analysis of the Determinants of Functional Income Distribution’ ILO Research Paper, 2013
34. A. V. Korotaev and S. V. Tsirel, ‘A Spectral Analysis of World GDP Dynamics: Kondratieff Waves, Kuznets Swings; Juglar and Kitchin Cycles in Global Economic Development and the 2008-09 Economic Crisis’, Structure and Dynamics, 4 (1) (2010)
35. http://www.tradingeconomics.com/united-states/bank-lending-rate
36. John F. Papp et al, ‘Cr, Cu, Mn, Mo, Ni, and Steel Commodity Price Influences, Version 1.1’, US Geological Survey Open-File Report 2007-1257, p. 112
37. http://www.imf.org/external/pubs/ft/fandd/2011/03/picture.htm
38. http://dollardaze.org/blog/?post_id=00565
39. www.the-crises.com
40. S. Khatiwada, ‘Did the Financial Sector Profit at the Expense of the Rest of the Economy? Evidence from the United States’, ILO Research Paper, 2010
41. http://unctadstat.unctad.org/TableViewer/tableView.aspx
42. http://unctadstat.unctad.org/TableViewer/tableView.aspx
43. D. McWilliams, ‘The Greatest Ever Economic Change’, Gresham Lecture, 13 September 2012, http://www.gresham.ac.uk/lectures-and-events/the-greatest-ever-economic-change
44. See, for example, S. Amin, Unequal Development: An Essay on the Social Formations of Peripheral Capitalism (New York, 1976)
45. D. Milanovic, ‘Global Income Inequality by the Numbers: In History and Now’, Policy Research Working Paper 6259, World Bank, November 2012, p. 13
46. R. Freeman, ‘The New Global Labor Market’, Focus, vol. 26 (1) (2008), University of Wisconsin-Madison Institute for Research on Poverty, http://www.irp.wisc.edu/publications/focus/pdfs/foc261a.pdf
47. S. Kapsos and E. Bourmpoula, ‘Employment and Economic Class in the Developing World’, ILO Research Paper 6, June 2013
PART II
1. K. Kelly, ‘New Rules for the New Economy’, Wired, 5 September 1977, http://archive.wired.com/wired/archive/5.09/newrules.html
5. THE PROPHETS OF POSTCAPITALISM
1. R. Singh, ‘Civil Aero Gas Turbines: Technology and Strategy’, Speech, Cranfield University, 24 April 2001, p. 5
2. J. Leahy, ‘Navigating the Future’, Global Market Forecast 2012-2031, Airbus, 2011
3. D. Lee et al, ‘Aviation and Global Climate Change in the 21st Century’, Atmospheric Aviation, vol. 43, 2009, pp. 3520-37
4. M. Gell et al, ‘The Development of Single Crystal Superalloy Turbine Blades’, Superalloys, 1980, p. 205
5. http://www.mtu.de/en/technologies/engineering_news/others/Sieber_Aero_Engine_Roadmap_en.pdf
6. Data on the Balance Sheet, SAS Institute/CEBR, June 2013
7. P. Drucker, Post-capitalist Society (Oxford, 1993), p. 40
8. Ibid., p. 175
9. Ibid., p. 193
10. Y. Peng, ‘Internet Use of Migrant Workers in the Pearl River Delta’, in P.-L. Law (ed.), New Connectivities in China: Virtual, Actual and Local Interactions (Dordrecht, 2012), p. 94
11. P. Romer, ‘Endogenous Technological Change’, Journal of Political Economy, vol. 98, no. 5, pt 2 (1990), pp. S71-S102
12. Ibid. p. S72
13. Ibid., pp. S71-S102
14. http://www.billboard.com/biz/articles/news/digital-and-mobile/1567869/business-matters-average-itunes-account-generates-just
15. D. Warsh, Knowledge and the Wealth of Nations: A Story of Economic Discovery (New York, 2007)
16. http://en.wikipedia.org/wiki/Apple_A7#cite_note-AnandTech-iPhone5s-A7-2
17. http://commons.wikimedia.org/wiki/File:Bill_Gates_Letter_to_Hobbyists.jpg
18. R. Stallman, The GNU Manifesto, March 1985, http://www.gnu.org/gnu/manifesto.html
19. http://gs.statcounter.com
20. http://www.businessinsider.com/android-market-share-2012-11
21. K. Kelly, ‘New Rules for the New Economy’, Wired, 5 September 1977, http://archive.wired.com/wired/archive/5.09/newrules.html
22. Ibid.
23. Ibid.
24. http://www.digitaltrends.com/mobile/history-of-samsungs-galaxy-phones-and-tablets/
25. http://www.emc.com/collateral/analyst-reports/idc-the-digital-universe-in-2020.pdf
26. http://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx
27. Kelly, http://archive.wired.com/wired/archive/5.09/newrules.html
28. Ibid.
29. R. Konrad, ‘Trouble Ahead, Trouble Behind’, cnet, 22 February 2002, http://news.cnet.com/2008-1082-843349.html
30. Y. Benkler, The Wealth of Networks: How Social Production Transforms Markets and Freedom (New Haven, 2006)
31. Ibid.
32. http://en.wikipedia.org/wiki/Wikipedia:Wikipedians
33. https://wikimediafoundation.org/wiki/Staff_and_contractors
34. http://en.wikipedia.org/wiki/Wikipedia, accessed 28 December 2013
35. http://www.alexa.com/topsites
36. www.monetizepros.com/blog/2013/analysis-how-wikipedia-could-make-2-8-billion-in-annual-revenue/
37. K. Arrow, ‘Economic Welfare and the Allocation of Resources for Invention’, in The Rate and Direction of Inventive Activity: Economic and Social Factors, NBER, 1962, pp. 609-26
38. MEW (MarxEngelsWerke), vol. 29 (London, 1987), p. 225
39. M. Nikolaus in K. Marx, Grundrisse (Harmondsworth, 1973), p. 9
40. K. Marx, Grundrisse
41. Ibid.
42. http://distantwriting.co.uk/TelegraphStations1862.html
43. S. Tillotson, ‘We May All Soon Be “First-class Men”: Gender and Skill in Canada’s Early Twentieth Century Urban Telegraph Industry’, Labor/Le Travail, 27 (Spring 1991), pp. 97-123
44. Marx, Grundrisse
45. P. Virno, ‘General Intellect’, in A. Zanini and U Fadini (eds.), Lessico Postfordista (Milan, 2001), trans. A. Bove
46. Marx, Grundrisse
47. N. Dyer-Witheford, Cyber-Marx: Cycles and Circuits of Struggle in High-technology Capitalism (Illinois, 1999)
48. Y. Moulier-Boutang, Cognitive Capitalism (Cambridge, 2011), p. 53
49. http://ycharts.com/indicators/average_hourly_earnings
50. http://management.fortune.cnn.com/2012/02/13/nike-digital-marketing/
51. C. Vercellone, ‘From Formal Subsumption to General Intellect: Elements for a Marxist Reading of the Thesis of Cognitive Capitalism’, Historical Materialism, 15 (2007), pp. 13-36
52. Dyer-Witheford, Cyber-Marx
53. J. Rifkin, The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism (New York, 2014)
54. See P. Mason, ‘WTF is Eleni Haifa?’, 20 December 2014, http://www.versobooks.com/blogs/1801-wtf-is-eleni-haifa-a-new-essay-by-paul-mason
6. TOWARDS THE FREE MACHINE
1. http://www.sns.gov.uk/Simd/Simd.aspx
2. http://www.econlib.org/library/Smith/smWN2.html#B.I,%20Ch.5,%20Of%20the%20Real%20and%20Nominal%20Price%20of%20Commodities
3. A. Smith, Lectures on Jurisprudence (Oxford, 1978), p. 351
4. For a demonstration of this, see John F. Henry, ‘Adam Smith and the Theory of Value: Chapter Six Considered’, History of Economics Review, 31 (Winter 2000)
5. http://www.econlib.org/library/Smith/smWN2.html
6. ‘Towards the Free Machine’, http://www.econlib.org/library/Ricardo/ricP1.html
7. D. Ricardo, On the Principles of Political Economy and Taxation (London, 1821), ch. 30, http://www.econlib.org/library/Ricardo/ricP7.html
8. http://avalon.law.yale.edu/19th_century/labdef.asp
9. For a complete discussion of the debates on value see I. I. Rubin, A History of Economic Thought (London, 1989)
10. http://www.cleanclothes.org/news/2013/11/20/clean-clothes-campaign-disappointed-at-new-bangladesh-minimum-wage-level
11. Calculated using 2014 minimum wage of 5300 tk, against retail price rise of 34 tk per kg.
12. In this section I am following the outline of the theory as presented in A. Kliman, Reclaiming Marx’s ‘Capital’: A Refutation of the Myth of Inconsistency (Plymouth, 2007)
13. http://www.Icddrb.org/who-we-are/gender-issues/daycare
14. K. Allen, ‘The Butterfly Effect: Chinese Dorms and Bangladeshi Factory Fires’, Financial Times, 25 April 2013, http://blogs.ft.com/ftdata/2013/04/25/the-butterfly-effect-chinese-dorms-and-bangladeshi-factory-fires/?
15. J. Robinson, Economic Philosophy (Cambridge, 1962)
16. A. Einstein, ‘Physics and Reality’, Journal of The Franklin Institute, vol. 221 (1936), pp. 349-82
17. OECD, ‘Education at a Glance 2014: OECD Indicators’, OECD, 2014, p. 14
18. L. Walras, Elements of Pure Economics: Or the Theory of Social Wealth (London, 1900), p. 399
19. http://library.mises.org/books/William%20Smart/An%20Introduction%20to%20the%20Theory%20of%20Value.pdf
20. Walras, Elements of Pure Economics, p. 6
21. W. S. Jevons, ‘The Periodicity of Commercial Crises, and its Physical Explanation’, in R. L. Smyth (ed.), Essays in the Economics of Socialism and Capitalism: Selected Papers Read to Section F of the British Association for the Advancement of Science, 1886-1932 (London, 1964), pp. 125-40
22. C. Menger, Investigations into the Method of the Social Sciences with Special Reference to Economics, trans. F. J. Nock (New York, 1985), p. 177
23. S. Keen, Debunking Economics: The Naked Emperor Dethroned (London, 2011), loc 474
24. Walras, Elements of Pure Economics
25. http://www.ibtimes.co.uk/game-thrones-purple-wedding-becomes-most-shared-illegal-download-ever-1445057
26. J. Hagel et al, ‘From Exponential Technologies to Exponential Innovation’, Deloitte, 2013
27. N. Wiener, Cybernetics or Control and Communication in the Animal and the Machine (Cambridge MA, 1948), p. 132
28. http://www.pitt.edu/~jdnorton/lectures/Rotman_Summer_School_2013/thermo_computing_docs/Landauer_1961.pdf
29. R. Landauer, ‘The Physical Nature of Information’, Physics Letters A, 217 (1996), pp. 188-93
30. http://spectrum.ieee.org/computing/hardware/landauer-limit-demonstrated
31. http://www.marxists.org/archive/marx/works/1857/grundrisse/ch15.htm
32. V. Naranje and K. Shailendra K, ‘AI Applications to Metal Stamping Die Design: A Review’, World Academy of Science, Engineering and Technology, vol. 4, 2010
33. OECD, ‘Measuring the Internet Economy: A Contribution to the Research Agenda’, OECD Digital Economy Papers, 226, OECD Publishing, 2013
34. http://dx.doi.org/10.1787/5k43gjg6r8jf-en
35. http://www.bls.gov/news.release/pdf/ocwage.pdf
36. C. B. Frey and M. A. Osborne, ‘The Future of Employment: How Susceptible Are Jobs to Computerisation?’, Oxford Martin School Working Paper, 2013, p. 38, http://www.futuretech.ox.ac.uk/news-release-oxford-martin-school-study-shows-nearly-half-us-jobs-could-be-risk-computerisation
37. A. Gorz Critique of Economic Reason (London, 1989), p. 127
7. BEAUTIFUL TROUBLEMAKERS
1. R. Freeman, ‘The Great Doubling: Labor in the New Global Economy’. Usery Lecture in Labor Policy, University of Atlanta, GA, 2005
2. T. Piketty, Capital in the 21st Century (Harvard, 2014)
3. http://newleftreview.org/II/21/fredric-jameson-future-city: ‘It seems easier for us today to imagine the thoroughgoing deterioration of the earth and of nature than the breakdown of late capitalism’
4. http://shanghaiist.com/2010/05/26/translated_foxconns_employee_non-su.php
5. See P. Mason, ‘WTF is Eleni Haifa?’, 20 December 2014, http://www.versobooks.com/blogs/1801-wtf-is-eleni-haifa-a-new-essay-by-paul-mason
6. D. A. Galbi, ‘Economic Change and Sex Discrimination in the Early English Cotton Factories’, 1994, http://papers.ssrn.com/paper.taf?abstract_id=239564
7. A. Ure, The Cotton Manufacture of Great Britain Systematically Investigated, vol. II (London, 1836), p. 176
8. http://www.tandfonline.com/doi/pdf/10.1080/00236568508584785#.UeVsMBY9TCE
9. K. Marx, Capital, vol. I, Ch. 15 (London, 1887), p. 287
10. F. Engels, The Condition of the Working Class in England (London, 1987), loc 2990
11. M. Winstanley, ‘The Factory Workforce’, in M. Rose (ed.), The Lancashire Cotton Industry: A History since 1700 (Lancashire, 1996), p. 130
12. W. Lazonick, Competitive Advantage on the Shop Floor (Harvard, 1990)
13. Engels, The Condition of the Working Class
14. B. Palmer, A Culture in Conflict: Skilled Workers and Industrial Capitalism in Hamilton, Ontario, 1860-1914 (Montreal, 1979)
15. Kealey’s study of the iron moulders’ union in Toronto shows them setting the wage rate for each new design and imposing it across the industry. See G. Kealey, ‘The Honest Working Man and Workers’ Control: The Experience of Toronto Skilled workers 1860-1892’, Labor/Le Travail, 1(1976), p. 50
16. Quoted in ibid., p. 39
17. Ibid., p. 58
18. F. W. Taylor, The Principles of Scientific Management, 1911, p. 18
19. Ibid.
20. Ibid.
21. G. Friedman, ‘Revolutionary Unions and French Labor: The Rebels behind the Cause; or, Why Did Revolutionary Syndicalism Fail?’, French Historical Studies, vol. 20, no. 2 (Spring, 1997)
22. http://www.llgc.org.uk/ymgyrchu/Llafur/1926/MNS.pdf
23. V. I. Lenin, What Is to Be Done?, 1902, http://www.marxists.org/archive/lenin/works/download/what-itd.pdf
24. V. I. Lenin, ‘Imperialism and the Split in Socialism’, in V. I. Lenin, Imperialism: The Highest Stage of Capitalism (Sydney, 1999), p. 131
25. Quoted in A. Santucci, Antonio Gramsci (New York, 2010), p. 156
26. W. B. Yeats, ‘Easter, 1916’, http://www.theatlantic.com/past/docs/unbound/poetry/soundings/easter.htm
27. http://spartacus-educational.com/TUcwc.htm
28. M. Ferro, October 1917: A Social History of the Russian Revolution (London, 1980), p. 151
29. C. Goodrich, The Frontier of Control (New York, 1920), p. 264
30. G. Orwell, ‘Looking Back on the Spanish War’, in G. Orwell, A Collection of Essays (New York, 1979), p. 201
31. http://www.economist.com/node/21550764
32. C. W. Mills, ‘The Sociology of Stratification’, in I. L. Horowitz (ed.), Power Politics & People: The Collected Essays of C. Wright Mills (Oxford, 1967), p. 309
33. D. Bell, ‘The Capitalism of the Proletariat’, Encounter, February 1958, pp. 17-23
34. http://www.marxists.org/reference/archive/marcuse/works/one-dimensional-man/one-dimensional-man.pdf p33
35. S. Wright, Storming Heaven: Class Composition and Struggle in Italian Autonomist Marxism (London, 2002), p. 54
36. R. Alford, ‘A Suggested Index of the Association of Social Class and Voting’, Public Opinion Quarterly, vol. 26, no. 3 (Autumn, 1962), pp. 417-25
37. E. Hobsbawm, ‘The Forward March of Labour Halted’, Marxism Today September 1978, p. 279
38. R. Alquati, Sulla Fiat e Altri Scritti (Milan, 1975), p. 83
39. A. Gorz, Critique of Economic Reason (London, 1989), p. 55
40. Ibid., p. 58
41. J. Gorman, To Build Jerusalem: A Photographic Remembrance of British Working Class Life, 1875-1950 (London, 1980)
42. R. Hoggart, The Uses of Literacy: Aspects of Working-Class Life (London, 1957)
43. G. Akerlof, J. Yellen and M. Katz, ‘An Analysis of Out-of-Wedlock Childbearing in the United States’, Quarterly Journal of Economics, vol. 111, no. 2
44. C. Goldin and L. Katz, ‘The Power of the Pill: Oral Contraception and Women’s Career and Marriage Decisions’, NBER Working Paper 7527, February 2000
45. O. Ornati, ‘The Italian Economic Miracle and Organised Labor’, Social Research, vol. 30, no. 4 (Winter, 1953), pp. 519-26
46. Ibid.
47. P. Ginsborg, A History of Contemporary Italy: Society and Politics 1943-1988 (London, 2003), pp. 298-9
48. ‘Class Struggle in Italy: 1960s to 70s’, anonymous, prole.info
49. Lotta Continua, #18, November 1970, quoted in ibid.
50. A. Glyn et al, ‘The Rise and Fall of the Golden Age’, WIDER, Working Paper 43, April 1988
51. Ibid.
52. P. Myerscough, ‘Short Cuts’, London Review of Books, vol. 35, no. 1, 3 January 2013, p. 25
53. http://www.bls.gov/fls/flscomparelf/lfcompendium.pdf
54. ILO
55. C. Lapavitsas, ‘Financialised Capitalism: Crisis and Financial Expropriation’, RMF Paper 1, 15 February 2009
56. Ibid.
57. http://homes.chass.utoronto.ca/~wellman/publications/littleboxes/littlebox.PDF
58. R. Sennett, The Culture of the New Capitalism (New Haven, 2005)
59. R. Sennett, The Corrosion of Character: The Personal Consequences of Work in the New Capitalism (New York, 1998)
60. A. Negri and M. Hardt, Declaration, ebook, 2012, https://antonionegriinenglish.files.wordpress.com/2012/05/93152857-hardt-negri-declaration-2012.pdf
61. Y. Peng, ‘Internet Use of Migrant Workers in the Pearl River Delta’, Knowledge, Technology, and Policy, 21, 2008, pp. 47-54
PART III
1. G. Orwell, Nineteen Eighty-Four (London, 1949)
8. ON TRANSITIONS
1. A. Bogdanov, Red Star: The First Bolshevik Utopia (Bloomington, 1984), p. 65
2. http://www.marxists.org/archive/lenin/photo/1908/007.htm
3. Quoted in J. E. Marot, ‘Alexander Bogdanov, Vpered and the Role of the Intellectual in the Workers’ Movement’, Russian Review, vol. 49 (3) (1990), pp. 241-64
4. http://www.marxists.org/glossary/orgs/w/o.htm#workers-opposition
5. N. Krementsov, A Martian Stranded on Earth: Alexander Bogdanov, Blood Transfusions and Proletarian Science (Chicago, 2011)
6. R. Stites, ‘Fantasy and Revolution’, in Bogdanov, Red Star, p. 15
7. M. Ellman, ‘The Role of Leadership Perceptions and of Intent in the Soviet Famine of 1931’, Europe-Asia Studies, vol. 57 (6) (2005), pp. 823-41
8. https://www.marxists.org/reference/archive/stalin/works/1931/02/04.htm
9. M. Harrison ‘The Soviet Economy in the 1920s and 1930s’, Capital & Class, 2:2 (1978), pp. 78-94
10. G. Ofer, ‘Soviet Economic Growth 1928-1985’, RAND/UCLA Center for the Study of Soviet International Behavior, JRS-04 (1998)
11. H. Hunter, ‘A Test of Five-Year Plan Feasibility’, in J. Thornton, Economic Analysis of the Soviet-Type System (Cambridge 1976), p. 296
12. A. Kon, ‘Political Economy Syllabus’, pp. 19-20, quoted in Y. Preobrazhensky, The New Economics (Oxford, 1964), p. 57
13. V. Pareto, Cours d’Economie Politique, vol. 1 (Lausanne, 1896), p. 59. Cited in J. Bockman, Markets in the Name of Socialism: The Left Wing Origins of Neoliberalism (Stanford, 2011)
14. E. Barone ‘The Ministry of Production in the Collectivist State’, in F. Hayek (ed.), Collectivist Economic Planning: Critical Studies on the Possibilities of Socialism (London, 1935), p. 245
15. L. von Mises Economic Calculation in the Socialist Commonwealth (New York, 1990), p. 13
16. Ibid., p. 14
17. L. Robbins, The Great Depression (London, 1934), p. 151.
18. O. Lange, ‘On the Economic Theory of Socialism’, Review of Economic Studies, vol. 4 (1) (1936), pp. 53-71
19. Bockman, Markets in the Name of Socialism, loc 1040
20. Von Mises, Economic Calculation, p. 22
21. L. Trotsky, ‘The Soviet Economy in Danger’, The Militant, October 1932, https://www.marxists.org/archive/trotsky/1932/10/sovecon.htm
22. L. Trotsky The Soviet Economy in Danger (New York, 1932)
23. W. P. Cockshott and A. Cottrell, ‘Economic Planning, Computers and Labor Values’, Working Paper, January 1999, http://ricardo.ecn.wfu.edu/~cottrell/socialism_book/index.html
24. O. Yun, Improvement of Soviet Economic Planning (Moscow, 1988)
25. Cockshott and Cottrell, ‘Economic Planning, Computers and Labor Values,’ p. 7
26. P. Cockshott, A. Cottrell and H. Dieterich, Transition to 21st Century Socialism in the European Union, Lulu.com, 2010, pp. 1-20
27. A. Gorz, Capitalism, Socialism, Ecology (London, 1994), p. 1
28. J. M. Keynes, ‘The Economic Possibilities for our Grandchildren’, in J. M. Keynes, Essays in Persuasion (New York, 1963), pp. 358-73
29. D. Thompson, ‘The Economic History of the Last 2000 Years: Part II’, The Atlantic, 20 June 2012
30. http://www.plospathogens.org/article/info%3Adoi%2F10.1371%2Fjournal.ppat.1001134
31. D. Herlihy, The Black Death and the Transformation of the West (Cambridge, 1997), p. 48
32. E. L. Eisenstein, The Printing Revolution in Early Modern Europe (2nd edn, Cambridge, 2005)
33. http://intersci.ss.uci.edu/wiki/eBooks/BOOKS/Bacon/Novum%20Organum%20Bacon.pdf
34. P. M. Sweezy and M. Dobb, ‘The Transition from Feudalism to Capitalism’, Science & Society, vol. 14 (2) (1950), pp. 134-67
35. P. Anderson, Passages from Antiquity to Feudalism (London, 1974), loc 3815
36. Preobrazhensky, The New Economics, p. 79
9. THE RATIONAL CASE FOR PANIC
1. http://www.cpesap.net/publications/en/
2. http://www.climatechange2013.org/images/uploads/WGI_AR5_SPM_brochure.pdf
3. J. Ashton, ‘The Book and the Bonfire: Climate Change and the Reawakening of a Lost Continent’, Speech, Swiss Museum of Transport, Lucerne, 19 January 2014
4. ‘World Energy Outlook 2012’, IEA, http://www.iea.org/publications/freepublications/publication/WEO2013_Executive_Summary_English.pdf
5. http://carbontracker.live.kiln.it/Unburnable-Carbon-2-Web-Version.pdf
6. http://priceofoil.org/2014/10/28/insurers-warned-climate-change-affects-viability-business-model/
7. http://sams.scientificamerican.com/article/dark-money-funds-climate-change-denial-effort/
8. http://mobile.bloomberg.com/news/2014-11-02/fossil-fuel-budgets-suggested-to-curb-climate-change.html?hootPostID=1bdb3b7bbbbb619db600e477f2c6a152
9. http://www.economist.com/news/briefing/21587782-europes-electricity-providers-face-existential-threat-how-lose-half-trillion-euros
10. http://www.iea.org/techno/etp/etp10/English.pdf
11. http://www.greenpeace.org/international/en/campaigns/climate-change/energyrevolution/
12. Ibid.
13. ‘Fifth Annual Report of the Registrar General’, London, 1843
14. ‘World Population Prospects: The 2012 Revision, Key Findings and Advance Tables’, United Nations, 2013
15. http://www.georgemagnus.com/articles/demographics-3/
16. ‘Annual Survey of Large Pension Funds and Public Reserve Pension Funds’, OECD, October 2013
17. M. Mrsnik et al, ‘Global Aging 2010: An Irreversible Truth’, Standard & Poors, 7 October 2010
18. N. Howe and R. Jackson, ‘How Ready for Pensioners?’, Finance & Development, IMF, June 2011
19. ‘World Population Prospects: The 2012 Revision’
20. http://esa.un.org/unpd/wpp/Documentation/pdf/WPP2012_%20KEY%20FINDINGS.pdf
21. B. Milanovic, ‘Global Income Inequality by the Numbers: in History and Now’, Policy Research Working Paper 6259, World Bank, November 2012
22. G. Mognus, Speech, IFC and Johns Hopkins Medicine International Health Conference 2013, http://www.ifc.org/wps/wcm/connect/6d0b56004f081ebf99d4db3eac88a2f8/George+Magnus'+Keynote+Speech+-+190313.pdf?MOD=AJPERES
23. D. H. Lawrence, Lady Chatterley’s Lover (London, 1928), p. 1
24. http://www.huffingtonpost.com/2014/03/17/china-internet-censorship_n_4981389.html
25. http://www.groupibi.com/2011/10/india-targets-36-billion-global-cosmetic-surgery-market-cnbc-ibi-industry-news/
10. PROJECT ZERO
1. H. Simon. ‘Organisations and Markets’, Journal of Economic Perspectives, vol. 5 (2) (1991), pp. 25-44
2. E. Preobrazhensky, The New Economics (Oxford, 1964), p. 55
3. See, for example, P. Mason, ‘WTF is Eleni Haifa?’, 20 December 2014, http://www.versobooks.com/blogs/1801-wtf-is-eleni-haifa-a-new-essay-by-paul-mason
4. V. Kostakis and M. Bauwens, Network Society and Future Scenarios for a Collaborative Economy (London, 2014)
5. M. Wark, A Hacker Manifesto (Cambridge MA, 2004)
6. See, for example, ‘Fair Society, Healthy Lives’ (The Marmot Review), UCL Institute of Health Equity, February 2010, http://www.instituteofhealthequity.org/projects/fair-society-healthy-lives-the-marmot-review
7. J. D. Farmer, ‘Economics Needs to Treat the Economy as a Complex System’, Crisis, December 2012
8. J. Benes and M. Kumhof, ‘The Chicago Plan Revisited’, IMF Working Paper 12/202, August 2012, https://www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf
9. See http://www.degruyter.com/view/j/bis and http://www.basicincome.org/bien/aboutbasicincome.html
10. D. Graeber ‘On the Phenomenon of Bullshit Jobs’, Strike! Magazine, 17 August 2013
11. K. Marx, Grundrisse, ed. M. Nicolaus (Harmondsworth, 1973), pp. 207-750, https://www.marxists.org/archive/marx/works/1857/grundrisse/ch/4.htm