David Yaffe and Paul Bullock 

Inflation, the Crisis and the Post-War Boom

Written: 1979;
Source: David Yaffe and Paul Bullock, 'Inflation, the Crisis and the Post-War Boom', Revolutionary Communist No. 3/4 (Second Edition), November 1979, pp 5-45.
Transcription: Steve Palmer.
Copyleft:  This work is licensed under a Creative Commons license permitting unrestricted copying for non-commercial use.


PART I. The Crisis as it presents itself
(a) Introduction
(b) The crisis seen as a British crisis
(c) The form of appearance of the crisis confused with its cause. Inflation and the crisis.
(d) The crisis as it appears internationally.

PART II The Marxist Theory of Crisis
(a) Capitalist Production.
(b) Value, Money and Price.
    (i) The Price Form.
    (ii) The Quantity of Money.
    (iii) The Transition from simple price to price of production.
    (iv) Credit Money.

(c) Productive and Unproductive Labour.
(d) The General Law of Capital Accumulation and the Theory of Crisis.
    (i) The rising organic composition of capital.
    (ii) The tendency of the rate of profit to fall and the crisis theory.
    (iii) Luxury production and the rate of profit.
    (iv) Capital in the sphere of circulation and the rate of profit.
    (v) The capitalist crisis.

(e) Credit and Crisis.
    (i) The basis of credit.
    (ii) Loan Capital.
    (iii) Fictitious Capital.
    (iv) Crisis.

(f) The extensive and intensive expansion of capitalist production.

PART III Inflation, the Crisis and the Depreciation of Capital.
(a) How the Capitalist Perceives the Crisis
(b) The Monopoly Phase of Capitalism.
(c) The State and Inflation.
(d) Capital and the State.
(e) The International Expansion of Credit.

PART IV. The Post-war Boom - Some Significant International Developments
(a) The Crisis in Britain