Abstract
A new phase of development emerges from a historic crisis situation of contradiction between productive forces and social relations of production, giving rise to an intertwine between technological changes with social construction, projecting a new long-term solution to social conflict that includes a State form over time. The structural construction of Knowledge Capitalism as current phase of development founds on microprocessor jointly with cognitive and creative labor force capabilities valorization. This evolving economic structure emerged mainly from the Atlantic-hegemonic neoliberal development pathway which brought the formation of a new Historic Bloc in the United States under the Hegemony of Schumpeterian entrepreneurs that projected the market as the most efficient agent for available social resources distribution. Financial crisis of 2008 or market failure outlines a declining neoliberalism and the rise of bizarre neoliberal pathways in the United States and abroad.
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Notes
- 1.
“The enormous capacity, inherent in the manufacturing system, to expand in leaps and bounds and its dependence on the world market necessarily generate feverish production and the consequent saturation of markets, which when contracting originate a period of paralysis. The life of industry becomes a sequence of periods of average animation, prosperity, overproduction, crisis and stagnation” (Marx, 2001, Volume I, Chapter XIII, p. 376) (See Diagram 3.1).
- 2.
Regarding to the industrial cycles, the most important work of the second half of the nineteenth century was Des crises commerciales et de leur retour périodique en France, in Angleterre et aux Etat-Unis by Clement Juglar published in 1862 in France. He was the first who made use of statistical series in a systematic way (mainly on prices, interest rates and central bank balance sheets) and with the precise purpose of analyzing a defined phenomenon. Furthermore, Schumpeter claims that Juglar discovered the 10-year duration of the cycle (Rodríguez, 2005, Appendix second chapter, p. 51).
- 3.
“Incremental innovations: These can often occur, not so much as a result of deliberate research and development activity, but as the result of inventions and improvements suggested by engineers and others directly involved in the production process, or as a result of user initiatives and proposals (“learn by doing” and “learn by using”). Although their combined effect is extremely important on productivity growth, incremental innovation does not have dramatic effects on its own, and can sometimes go unnoticed and unregistered. However, its effects are evident in the continued growth of productivity” (Freeman & Perez, 1988, pp. 45–46).
- 4.
These innovations include the next. (1) The introduction of a new product or a new quality of the same product. (2) The introduction of a new production method, which does not need to be based on a new discovery from a scientific point of view, and may simply consist of a new way of a merchandise commercial manage. (3) The opening of a new market in which a special branch of manufacturing has not entered, despite the fact that said market previously existed. (4) The conquest of a new source of supply of raw materials or semi-manufactured goods. (5) The creation of a new organization of any industry, such as a monopoly position or the cancellation of a previously existing monopoly position (Schumpeter, 1997, p. 77).
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Sánchez Ramírez, C.M. (2021). Long-Term Cyclicality of Capitalism as State Time Dimension. In: Knowledge Capitalism and State Theory. Palgrave Insights into Apocalypse Economics. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-71411-6_3
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