Zombie Capitalism Zombie Capitalism Global Crisis and the Relevance of Marx Chris Harman Haymarket Books Chicago, Illinois First published in July 2009 by Bookmarks Publications. Copyright © Bookmarks Publications. This edition published in 2010 by Haymarket Books P.O. Box 180165 Chicago, IL 60618 773-583-7884 www.haymarketbooks.org
[email protected] ISBN: 978-1-60846-104-2 Trade distribution: In the U.S., Consortium Book Sales, www.cbsd.com In Canada, Publishers Group Canada, www.pgcbooks.ca In Australia, Palgrave MacMillan, www.palgravemacmillan.com.au All other countries, Publishers Group Worldwide, www.pgw.com Cover design by Josh On. This book was published with the generous support of Lannan Foundation and the Wallace Global Fund. Library of Congress Cataloging in Publication data is available. 10 9 8 7 6 5 4 3 2 1 Contents Introduction 7 Part One: Understanding the System: Marx and Beyond 1 Marx's Concepts 21 2 Marx and His Critics 41 3 The Dynamics of the System 55 4 Beyond Marx: Monopoly, War and the State 87 5 State Spending and the System 121 Part Two: Capitalism in the 20th Century 6 The Great Slump 143 7 The Long Boom 161 8 The End of the Golden Age 191 Part Three: The New Age of Global Instability 9 The Years of Delusion 229 10 Global Capital in the New Age 255 11 Financialisation and the Bubbles That Burst 277 Part Four: The Runaway System 12 The New Limits of Capital 307 13 The Runaway System and the Future for Humanity 325 14 Who Can Overcome? 329 Notes 353 Glossary 394 Index 403 About the Author Chris Harman is a leading member of the Socialist Workers Party (www.swp.org.uk).