Abstract
Before capitalism became dominant, economic life was shaken, more or less regularly, by changes in weather conditions, good and bad harvests, demographic changes, and wars. The whole phase of capitalist industrialization was accomplished through cyclical movements having a certain regularity: periods of prosperity and euphoria checked by a recession or broken by a crisis.
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Notes
Charles de Gaulle, Le Fil de l’épée (Paris: Berger-Levrault, 1954), pp. 54, 90.
Cited in Eduard Dolléans, Histoire du mouvement ouvrier, 3 vols. (Paris: Armand Colin, 1936–53), vol. II, p. 192.
Cited in Jean Bron, Histoire du mouvement ouvier français, 3 vols. (Paris: Ed. ouvriè res, 1970), vol. II, p. 146.
See P. Fridenson, Histoire des Usines Renault (Paris: Ed. Seuil, 1972), p. 76.
Because of their mobilization within the home country, the proportion is slightly lower for industry workers (8.8 percent) or transport workers (8.1 percent) than for farmers (10 percent) or liberal professions (10.7 percent). Alfred Sauvy, Histoire économique de la France entre les deux guerres, 3 vols. (Paris: Fayard, 1965–72), vol. I, p. 442.
J. M. Keynes, Monetary Reform (1924; New York: St. Martin’s, 1972), p. 187.
On this point, see Johan Akerman, Structures et Cycles économiques, 2 vols. (Paris: PUF, 1957), vol. 2, p. 509.
Charles P. Kindleberger, The World Depression 1929–1939 (Berkeley: University of California Press, 1973), p. 292.
An example of the latter approach is John K. Galbraith, The Great Crash 1929(Boston: Houghton Mifflin, 1972).
L. Robbins, The Great Depression, 1929–1934 (New York: Macmillan, 1934), p. 11.
W. G. Harding, cited in Claude Julien, America’s Empire (New York: Pantheon, 1971), p. 173.
In 1914 the largest U.S. banks had twenty-six branch offices outside the United States; in 1918, these numbered sixty-one, of which thirty-one were in Latin America and twenty-six in Europe (see Olivier Pastré, La Stratégie internationale des groupes financiers américains [Paris: Economica, 1979], p. 169.
J. Niosi, La Bourgeoisie canadienne (Montreal: Bonál Express, 1980), p. 59.
H. U. Faulkner, American Economic History (New York: Harper & Row, 1960), p. 607.
To this corresponds a tremendous concentration of private property: the richest 1 percent of the population owned 61.5 percent of the shares in 1922, 69 percent in 1939, 76 percent in 1953 (Jean-Marie Chevalier, La structure financiè re de l’industrie américaine (Paris: Cujas, 1970), p. 29,
K. J. Lampman, Review of Economics and Statistics, November 1979.
See J. H. Lorenzi, O. Pastré, and J. Toledano, La Crise du XXesiè cle (Paris: Economica, 1980).
Henry Ford, My Life and Work (New York, 1922), p. 87.
H. Beynon, Working for Ford (Harmondsworth, Middlesex: Penguin, 1973), p. 19.
Keith Sward, The Legend of Henry Ford (New York: Atheneum, 1948), p. 49.
Allan Nevins, Ford: The Times, the Man, the Company (New York: Scribners, 1954), p. 518.
Ibid., p. 124. Elsewhere he states: “By underpaying the men, we will produce a generation of both physically and morally underfed and underdeveloped children; we will be left with a generation of physically and morally feeble workers who, for this very reason, will prove ineffective once they enter industry. In the end, it will be industry that pays the price.” Cited in Benjamin Coriat, L’Ateliè r et le Chronomè tre (Paris: Bourgeois, 1978), p. 101.
Cited in John K. Galbraith, The Age of Uncertainty (Boston: Houghton Mifflin, 1977), p. 213.
See especially A. M. Schlesinger, The Age of Roosevelt, 3 vols. (Boston: Houghton Mifflin, 1957–60).
See Louis R. Franck, L’expérience Roosevelt et le milieu social américain(Paris: Alcan 1937),
Mario Einaudi, The Roosevelt Revolution (New York: Harcourt Brace, 1959).
John M. Keynes, “The Economic Consequences of Mr. Churchill” (1925), in Essays in Persuasion (New York: Harcourt, Brace, 1932), pp. 244, 259.
Werner Sombart, Der Moderne Kapitalismus (Munich, 1928).
A. C. Pigou, The Theory of Unemployment (London: Franklin Cass, 1968), p. 252.
John M. Keynes, General Theory of Employment, Interest & Money (London: Macmillan, 1973), p. 279.
Samir Amin, Accumulation on a World Scale (New York: Monthly Review Press, 1974), p. 71.
Cited in C. Coquery-Vidrovitch, ed., Connaissance du Tiers-Monde, (Paris: 10/ 18, 1978), p. 231.
See Philippe Bernard, La Fin d’un monde: 1914–1929 (Paris: Ed. Seuil, 1975),
Michel Beaud, P. Danjou, and J. David, Une multinationale française: Pechiney Ugine Kuhlmann (Paris: Ed. Seuil, 1975).
See the article by T. J. Markovitch in Cahiers-de l’ISE A, no. 179 (November 1966).
Ibid; J.-J. Carre, P. Dubois, E. Malinvaud, La croissance française (Paris: Ed. Seuil, 1972);
Alfred Sauvy, Histoire économique de la France entre les deux guerres, 3 vols. (Paris: Fayard, 1965–72), vol. I; Cepremap, “Approches de l’inflation: l’exemple français,” 1977, mimeo.
Louis Lengrand, Louis Lengrand: Mineur du Nord (Paris: Ed. Seuil, 1974),
Louis Lengrand, Louis Lengrand: Mineur du Nord (Paris: Ed. Seuil, 1974), and Daniel Bertaux, Destins personnels et structure de classe (Paris: PUF, 1977).
Fridenson, Histoire des Usines Renault, and Michel Freyssenet, La Division capitaliste du travail (Paris: Savelli, 1977), p. 45.
J. Lhomme, “Le pouvoir d’achat de l’ouvrier français,” Le mouvement social(April-June 1968); Sauvy, Historié économique, vol. III. In periods of deflation the workers’ buying power progresses through a stronger resistance to the reduction of nominal wages.
Cited by Nicos Poulantzas, Facism and Dictatorship (London: NLB, 1974), p. 190–91.
Hitler, Mein Kampf, trans. Raynal and Hitchcock (New York, 1940), p. 737.
Cited in D. Guerin, Facism: Big Business (New York: Pathfinder, 1973), p. 79.
Cited by J. J. Chevallier, Les grandes oeuvres politiques, de Machiaviel à nos jours (Paris: Armand Colin, 1949), p. 369.
Terms of exchange of industrial Europe (including nine countries: Great Britain, Germany, France, Italy, Belgium, Luxemburg, Holland, Sweden, Switzerland) were as follows: the ratio of export to import prices, on the base 1913 = 100, rose from 96 in 1920 to 109 in 1929, 138 in 1933, and fell to 124 in 1937 (C. P. Kindleberger, “Industrial Europe’s Terms of Trade on Current Account, 1870- 1953,” The Economic Journal, March 1955).
In the United States, the percentage of employees in the active population went from 10 percent in 1910 to 14 percent in 1920 and 17 percent in 1940 (L. G. Reynolds, Labor Economics and Labor Relations [New York: Prentice Hall, 1949], p. 27).
See Michel Beaud, Socialisme a lépreuve de léhistoire (Paris: Ed. Seuil, 1980), chs. 4, 5, 6, 7.
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Beaud, M. (1981). From the Great Depression to the Great War (1873–1914). In: A History of Capitalism 1500–1980. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-17336-5_5
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