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Francisco Louçã ISEG, Lisbon

Doomsday Capitalism: Is There a Way Out of the Long Depression? Seminario Globalizacion, Conocimiento y Desarrollo UNAM, 15-17 March 2006. Francisco Louçã ISEG, Lisbon. A conventional view of growth. Long Waves in capitalist development. Expansion Depression 1st LW 1789-1816 1816-1847

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Francisco Louçã ISEG, Lisbon

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  1. Doomsday Capitalism:Is There a Way Out of the Long Depression?Seminario Globalizacion, Conocimiento y DesarrolloUNAM, 15-17 March 2006 Francisco Louçã ISEG, Lisbon

  2. A conventional view of growth

  3. Long Waves in capitalist development • Expansion Depression • 1st LW 1789-1816 1816-1847 • Age of cotton and water power • 2nd LW 1848-1873 1873-1896 • Age of steam power and mechanization • 3rd LW 1896-1919 1920-1939/45 • Age of steel and electrification • 4th LW 1945-1967/73 1974-? • Age of motorization and mass production

  4. Diffusion of steel

  5. Electrification

  6. Managerial and organizational changes through the long waves • Water power, mechanization factory system • Steam power, mechanization joint stock co. • Electrification specialized professional management, Taylorism • Motorization mass production, Fordism • Computerization networks, local and global production

  7. Rate of profit (US vs EU)

  8. A measure of the long crisis for the G6

  9. Comparison of Techno-Economic Paradigms

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