The Long Twentieth Century

Introduction

• The [[Fordist]]-[[Keynesianist]] accumulation policy of the post war era lacked, according to [[David Harvey]], flexibility

• [[Capital]] tends to revert to its more flexible forms of investment, i.e. [[money capital]]

• Capitalism tends to reach a certain point of development of [[finance capital]] repeatedly

  [Every] capitalist development of this order seems, by reaching the stage of financial expansion, to have in some sense announced its maturity: it [is] a sign of autumn. — Braudel 1984: 246, as quoted by the author

• [[M-C-M exchange]] process can be seen as emblematic of capitalist development in general, with periods of capital accumulation (M-C) and periods of financial rebirth and expansion (C-M’)