A Theory of Capitalist Regulation The US

Aglietta's path-breaking book is the first attempt at a rigorous historical theory of the whole development of US capitalism, from the Civil War to the Carter Presidency. A major document of the 'Regulation School' of Marxist economists, it was received on publication as the boldest work in its field since the classic studies of Baran, Sweezy and Braverman.

Michel Aglietta is Professor of Economic Sciences at the Universite de Paris-X-Nanterre and Scientific Director at the Centre d'Etudes Prospectives et d'Informations Internationales (CEPII).

Introduction: The Need for a Theory of Capitalist Regulation

9

(28)

Part One The Transformation of the Wage Relation: The Laws of Capital Accumulation

The Production of Capital

37

(74)

The Creation and Accumulation of Surplus-Value

37

(28)

Abstract Labour and the General Equivalent

38

(7)

Rate and Mass of Surplus-Value

45

(7)

Productivity of Labour and Relative Surplus-Value

52

(9)

Accumulation of Capital and Growth in Social Labour-Power

61

(4)

Overview of Capital Accumulation in the United States

65

(46)

General Conditions of Development of the Forces of Production

72

(15)

General Tendencies in the Accumulation of Productive Capital

87

(24)

Transformations in the Labour Process

111

(40)

The Mechanization of Labour

111

(19)

Principles of Taylorism

113

(3)

Taylorism Superseded by Fordism

116

(6)

The Problems Posed by Automation in the Labour Process: Neo-Fordism

122

(8)

The Struggle to Establish a Normal Working Day and the Formation of the Trade-Union Movement

130

(5)

Forms of Wage and Labour Process

135

(16)

Time Wages and the Working Day

138

(3)

Piecework and the Stimulation of Output

141

(6)

The Influence of the Collectivization of Work on Forms of Wages

147

(4)

The Transformation of the Wage-Earners' Conditions of Life

151

(64)

The Capitalist Production of the Mode of Consumption

151

(28)

The Formation and Evolution of a Norm of Social Consumption

152

(17)

The Factors that Differentiate the Wage-Earning Class

169

(10)

The Effects of the Socialization of Consumption on Changing Forms of Wages

179

(7)

The Effects of the Socialization of Consumption on the Long-Run Movement of Wages

186

(29)

The Canalization of Economic Class Struggle by Collective Bargaining

190

(8)

The Determination of the Nominal Reference Wage in the United States and the Long-Run Movement of Wages

198

(17)

Part Two The Transformation of Inter-Capitalist Relations and the Laws of Competition

The Concentration and Centralization of Capital

215

(58)

The Definition of Concentration and its Determinants

215

(12)

The Concentration and Centralization of Industrial Capital

216

(4)

The Influence of Financial Conditions: Waves of Mergers

220

(7)

The Foundations of Financial Centralization

227

(24)

Financial Centralization through the Financing of Fixed Capital

228

(3)

Financial Centralization through the Transformation of the Mode of Consumption

231

(4)

Financial Centralization through Public Expenditure

235

(16)

The Forms of Centralization of Capital: the Giant Corporation and the Financial Group

251

(22)

The Evolution of Modes of Corporate Organization

253

(6)

Planning and Managerial Control

259

(7)

The Predominance of Proprietary Control: Financial Groups

266

(7)

General Rate of Profit and Competition among Capitals

273

(55)

The Conditions of Existence of a General Rate of Profit

273

(15)

The Theoretical Status of Prices

277

(3)

The Expanded Reproduction of Social Capital

280

(8)

The Competition of Individual Capitals on the Basis of the General Rate of Profit

288

(9)

The Modalities of the Division of Capital into Fractions

289

(3)

The Struggle between Capitals in the Transformation of Norms of Production and Exchange

292

(3)

Production Prices and Fluctuations in Market Prices

295

(2)

The Formation of Prices in the Movement of Centralization of Capital

297

(31)

The Role of Surplus Profit under Full and Monopolistic Competition

299

(8)

The Factors that Differentiate Rates of Profit

307

(6)

New Modalities of Devalorization: Planned Obsolescence and Accelerated Amortization

313

(2)

Administered Prices in the United States

315

(13)

Monetary System, Credit and Crises

328

(52)

The Development of Credit and the Organization of the Monetary System

328

(23)

The General Attributes of Money: the Significance of the Monetary Constraint

332

(9)

The Capitalist Attributes of Money: the Formation of a National Money

341

(10)

Financial Crises as Necessary Aspects of Capitalist Regulation

351

(29)

The Over-Accumulation of Capital

353

(12)

The Process of Inflation

365

(15)

General Conclusion

380

(8)

Postface to the New Edition Capitalism at the Turn of the Century: Regulation Theory and the Challenge of Social Change

388

(59)

Index

447

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A Theory of Capitalist Regulation The US Experience

Summary

Author Biography

Table of Contents

Supplemental Materials