("The Causes of the 1929-33 Great Collapse: A Marxian Interpretation," by James Devine in Research in Political Economy. vol. 14: pp. 119-194, with annotation added.)

[introduction] [section I] [section II] [section III] [section IV ]

[end of this section] [appendices] [notes] [short version]

[[p. 190ff]]


Abramowitz, Moses. 1993. The Search for the Sources of Growth: Areas of Ignorance, Old and New. Journal of Economic History. 53(2) June, 217-43.

Aglietta, Michel. 1979. A Theory of Capitalist Regulation: The US Experience. London, UK: New Left. David Fernbach, transl.

Aldcroft, Derek H. 1977. From Versailles to Wall Street, 1919- 1929. Berkeley: University of California Press.

Armstrong, Philip, Andrew Glyn, and John Harrison. 1991. Capitalism Since 1945. Oxford, U.K.: Basil Blackwell.

Arsen, David. 1991. International and Domestic Forces in the Postwar Golden Age. Review of Radical Political Economics. 23(1&2) Spring & Summer: 1-11.

Balke, Nathan S., and Robert J. Gordon. 1986. Appendix B: Historical Data. In Robert J. Gordon, ed. The American Business Cycle: Continuity and Change. Chicago: University of Chicago.

Baran, Paul A., and Paul M. Sweezy. 1966 Monopoly Capital. New York: Monthly Review Press.

Bleaney, Michael. 1976. Underconsumption Theories, New York: International Publ.

Bluestone, Barry, and Bennett Harrison. 1982. The Deindustrialization of America: Plant Closings, Community Abandonment, and the Dismantling of Basic Industry. New York: Basic Books.

______. 1988. The Great U-Turn: Corporate Restructuring and the Polarizing of America. New York: Basic Books.

Bowles, Samuel, David M. Gordon, and Thomas E. Weisskopf. 1983. Beyond the Wasteland: A Democratic Alternative to Economic Decline. Garden City, NY: Anchor/Doubleday.

Brenner, Robert, and Mark Glick. 1991. The Regulation Approach: Theory and History. New Left Review. 188 (July/August): 45-120.

Braverman, Harry. 1974. Labor and Monopoly Capital. New York: Monthly Review.

Bukharin, Nikolai. 1917. Imperialism and World Economy. New York: Monthly Review Press, 1973.

Burdekin, Richard C. K., and Paul Burkett. 1991. Money, Credit and Wages in Hyperinflation: Post-World War I Germany. Economic Inquiry, forthcoming.

Calomiris, Charles W. 1993. Financial Factors in the Great Depression. Journal of Economic Perspectives. 7(2) Spring: 61-85.

Chawner, Lowell J. 1941. Capital Expenditures for Manufacturing Plant and Equipment--1915 to 1940. Survey of Current Business. March. Washington D.C.: G.P.O., pp. 9-15.

Clarke, Simon. 1993. Marx's Theory of Crisis. London: Macmillan.

Cooper, Richard N. 1992. Fettered to Gold? Policy in the Interwar Period. Journal of Economic Literature. 30(4) Dec.: 2120-28.

Council of Economic Advisors (CEA). 1992. Economic Report of the President. Washington, D.C.: U.S. G.P.O.

Creamer, Daniel, Sergei P. Dobrovolsky, and Israel Borenstein. 1960. Capital in Manufacturing and Mining. Princeton: Princeton University Press.

Crotty, James R. 1993. Rethinking Marxian Investment Theory: Keynes-Minsky Instability, Competitive Regime Shifts, and Coerced Investment. Review of Radical Political Economics. 25(1), March: 1-26.

de Janvry, Alain, and Carlos Garramon. 1977. Laws of Motion of Capital in the Center-Periphery Structure. Review of Radical Political Economics. 9(2) Summer: 29-38.

Devine, James. 1983. Underconsumption, Over-Investment, and the Origins of the Great Depression. Review of Radical Political Economics. 15(2): 1-27.

_____. 1987. Cyclical Over-Investment and Crisis: Theory and Evidence. Eastern Economic Journal. 13(3) July-September.

_____. 1988. Falling Profit Rates and the Causes of the 1929 Collapse: Toward a Synthesis. Review of Radical Political Economics. 20(2&3): 87-83.

_____. 1990. The Utility of Value: The "New Solution," Unequal Exchange, and Crisis. Research in Political Economy. 12: 21-39.

_____. 1992. Against Determinism and Indeterminism: "Mechanisms" and "the Motor" in Historical Materialism. Loyola Marymount University: unpublished ms.

Dobb, Maurice. 1937. Economic Crises. In his Political Economy and Capitalism. New York: International Publ.

 _____. 1963. Studies in the Development of Capitalism. rev. ed. New York: International Publ.

Douglas, Paul H. 1930. Real Wages in the United States, 1890-1926. Reprint ed. New York: Augustus M. Kelley, 1966.

Dowd, Douglas F. 1974. The Twisted Dream: Capitalist Development in the United States Since 1776. Cambridge, MA: Winthrop Publ.

DuBoff, Richard B. 1989. Accumulation and Power: An Economic History of the United States. Armonk, NY: M.E. Sharpe.

Duménil, Gérard, Mark Glick, and Jose Rangel. 1987. Theories of the Great Depression: Why did Profitability Matter? Review of Radical Political Economics. 19(2) Summer. pp. 16-42.

Duménil, Gérard, and Dominique Lévy. 1993. The Economics of the Profit Rate. Aldershot, UK: Edward Elgar.

Eichengreen, Barry. 1992. Golden Fetters: The Gold Standard and the Great Depression, 1919-1939. New York: Oxford U.P.

Edwards, Richard. 1979. Contested Terrain: The Transformation of the Workplace in the Twentieth Century. New York: Basic Books.

Epstein, Edgar I., and Robert A. Gordon. 1939. Profits of Selected American Corporations, 1900-1914. Review of Economic Statistics 21(3): 122-8.

Epstein, Gerald, and Thomas Ferguson. 1984. Monetary Policy, Loan Liquidation, and Industrial Conflict: The Federal Reserve and the Open Market Operations of 1932. Journal of Economic History 44(2) December: 957-83.

Fisher, Irving. 1933. The Debt-Deflation Theory of Great Depressions. Econometrica 1: 337-57.

Foster, John B. 1984. The Limits of U.S. Capitalism: Surplus Capacity and Capacity Surplus in John Bellamy Foster and Henryk Szajfer, eds. The Faltering Economy: The Problem of Accumulation under Monopoly Capitalism New York: Monthly Review Press, 1984.

Friedman, Milton, and Anna Jacobson Schwartz, 1965. The Great Contraction, 1929-33. Princeton, NJ: Princeton U.P.

Galbraith, John Kenneth. 1961. The Great Crash. Boston: Houghton Mifflin.

Gillman, Joseph M. 1958. The Falling Rate of Profit: Marx's Law and its Significance to Twentieth Century Capitalism New York: Cameron Associates.

Gitelman, H. M. 1992. Welfare Capitalism Reconsidered. Labor History. 33(1) Winter: 1-31.

Goldsmith, Raymond W. 1955, A,B,C. A Study of Saving in the United States. 3 vols. Princeton, NJ: Princeton University Press.

Goldstein, Joshua S. 1988. Long Cycles: Prosperity and War in the Modern Age. New Haven, CT: Yale U.P.

Gordon, David, Richard Edwards, and Michael Reich. 1982. Segmented Work, Divided Workers: The Historical Transformation of Labor in the United States. New York: Cambridge University Press.

Gordon, David, Thomas Weisskopf, and Samuel Bowles, 1983. Long Swings and the Nonreproductive Cycle. American Economics Review 73(2): 152-157.

Gordon, Robert J. 1987. Macroeconomics. 4th ed. Boston: Little-Brown.

 _____ and James A. Wilcox. 1981. Monetarist Interpretations of the Great Depression: An Evaluation and Critique. In Brunner, Karl, ed. 1981. The Great Depression Revisited. Boston: Martinus Nijhoff Publ.

Hickman, Bert G. and Robert M. Coen. 1976. An Annual Growth Model of the U.S. Economy. Amsterdam: North-Holland.

Hirschman, Albert O. 1968. Journeys Toward Progress: Studies of Economic Policy-Making in Latin America. New York: Greenwood Press.

Hobsbawm, Eric J. 1990. Nations and Nationalism since 1780: Programme, Myth, Reality. Cambridge: University Press.

Isenberg, Dorene L. 1987. Is There a Case for Minsky's Financial Fragility Hypothesis in the 1920s? University of Maine: unpubl. ms.

Jacoby, Sanford. 1985. Employing Bureaucracy: Managers, Unions, and the Transformation of Work in American Industry, 1900-1945. New York: Columbia University Press.

Kennedy, Paul. 1987. The Rise and Fall of the Great Powers. New York: Vintage.

Kendrick, John W. 1961. Productivity Trends in the United States. Assisted by Maude R. Pech. Princeton: Princeton U.P.

Kenwood, A. G., and A. L. Lougheed. 1971. The Growth of the International Economy, 1920-60. London: George Allen & Unwin.

Kindleberger, Charles P. 1986. The World in Depression, 1929-1939 rev. & exp. ed. Berkeley: University of California Press.

Laibman, David. 1992. Value, Technical Change and Crisis: Explorations in Marxist Economic Theory. Armonk, NY: M.E. Sharpe.

La Tourette, John E. 1965a. Potential Output and the Capital-Output Ratio in the United States Private Business Sector, 1909-59. Kyklos vol. 18: 316-32.

Lazonick, William. 1990. Competitive Advantage on the Shop Floor. Cambridge, MA: Harvard University Press.

Lebergott, Stanley. 1964. Manpower in Economic Growth: The American Record Since 1800. New York: McGraw-Hill.

_____. 1990. "Wage Rigidity" in the Depression: Concept or Phrase. Wesleyan University: unpubl. ms.

Lebowitz, Michael A. 1992. Beyond Capital: Marx's Political Economy of the Working Class. New York: St. Martin's.

Lembke, Jerry. 1991-92. Why 50 Years? Working-Class Formation and Long Economic Cycles. Science and Society. 44(4), Winter: 417-445.

Lewis, W. Arthur. 1949. Economic Survey, 1919-1939. Philadelphia: Blackiston.  

Lipietz, Alain. 1987. Mirages and Miracles: The Crises of Global Fordism. London: Verso. David Macey, transl.

Maddison, Angus. 1982. Phases of Capitalist Development Oxford: Oxford University Press.

Mage, Shane. 1963. The "Law of the Falling Tendency of the Rate of Profit": Its Place in the Marxian Theoretical System and Relevance to the U.S. Economy. Columbia University: unpubl. Ph.D. dissertation.

Maier, Charles S. 1988. Recasting Bourgeois Europe. 2nd ed. Princeton: Princeton University Press.

Marglin, Stephen A. 1991. Lessons of the Golden Age: An Overview. In Marglin and Schor, eds. [1991].

______ and Juliet B. Schor, eds. 1991. The Golden Age of Capitalism: Reinterpreting the Postwar Experience. Oxford: Clarendon Press.

Martin, Robert. 1939. National Income in the United States New York: National Industrial Conference Board.

Marx, Karl. 1849. Wage Labor and Capital. In Tucker, Robert W., ed. 1978. The Marx-Engels Reader. 2nd ed. New York: W.W. Norton, p. 203-17.

_____. 1857-8. Grundrisse: Foundations of the Critique of Political Economy. Martin Nicholas, transl. New York: Vintage Books, 1973.

_____. 1867, 1885, 1894. Capital. vols. I-III. Frederick Engels, ed. New York: International Publ., 1967.

Mead, Walter Russell. 1992. Depending on the Kindness of Strangers: Economic Allies Abandon America. Los Angeles Times. March 29, 1992, section M, p. 1.

Michl, Thomas R. 1988. The Two-Stage Decline in U.S. Nonfinancial Corporate Profitability, 1948-1986. Review of Radical Political Economics. 20(4) Winter: 1-22.

Moseley, Fred. 1991. The Falling Rate of Profit in the Postwar United States Economy. New York: St. Martin's Press.

Nasar, Sylvia. 1992a,b. The 1980's: A Very Good Time for the Very Rich. and Fed Report Gives New Data on Gains by Richest in 80's. New York Times. p. A1 March 5 and April 21.

Nelson, Daniel. 1991. Scientific Management and the Workplace, 1920-1935. In Sanford Jacoby, ed. Masters to Managers: Historical and Comparative Perspectives on American Employers. New York: Columbia University Press.

Nye, Joseph S. Jr., Kurt Biendkopf, and Motoo Shiinta. 1991. Global Cooperation after the Cold War: A Reassessment of Trilateralism. Triangle Papers 41 (July). New York, Paris, Tokyo: Trilateral Commission.

O'Connor, James. 1973. The Fiscal Crisis of the State. New York: St. Martin's. 

Oshima, Harry T. 1984. The Growth of U.S. Total Factor Productivity: The Significance of New Technologies in the Early Decades of the Twentieth Century. Journal of Economic History. 44(1), March: 161-70.

Persons, Warren M. 1931. Forecasting Business Cycles New York: John Wiley & Sons.

Peterson, Wallace. 1991. The Silent Depression. Challenge. 34(4) July-August: 29-34.

Piore, Michael J. and Charles F. Sabel. 1984. The Second Industrial Divide: Possibilities for Prosperity. New York: Basic.

Polanyi, Karl. 1944. The Great Transformation: the Political and Economic Origins of Our Time. Boston: Beacon.

Pollin, Robert. 1986. Alternative Perspectives on the Rise of Corporate Debt Dependency: The U.S. Postwar Experience. Review of Radical Political Economics. 18(1&2): 205-35.

______. 1987. Structural Change and Increasing Fragility in the U.S. Financial System. In Robert Cherry et al., eds. The Imperiled Economy. vol. I: Macroeconomics from a Left Perspective. NY: URPE.

Reich, Michael. 1986. The Proletarianization of the Labor Force. In Edwards, Richard C., Michael Reich, and Thomas E. Weisskopf, eds. The Capitalist System 3rd ed. Englewood Cliffs, NJ: Prentice-Hall.

Reich, Robert. 1991. The Work of Nations: Preparing Ourselves for 21st Century Capitalism. New York: A. A. Knopf.

Romer, Christina. 1986. Spurious Volatility in Historical Unemployment Data. Journal of Political Economy. 94(1) February: 1-37.

_____. 1990. The Great Crash and the Onset of the Great Depression. Quarterly Journal of Economics. 105(3), August: 597-624.

_____. 1993. The Nation in Depression. Journal of Economic Perspectives. 7(2) Spring: 19-39.

Ross, Robert J. S., and Kent C. Trachte. 1990. Global Capitalism: The New Leviathan. Albany, NY: SUNY press.

Rosenberg, Nathan. 1972. Technology and American Economic Growth. Armonk, NY: M.E. Sharpe.

Rowthorn, Robert E. 1977. Conflict, Inflation, and Money. Cambridge Journal of Economics. 215-39.

Scheiber, Harry N., Harold G. Vatter, and Harold Underwood Faulkner, 1976. American Economic History. 9th ed. New York: Harper & Row.

Schor, Juliet. 1992. The Overworked American: The Unexpected Decline in Leisure. NY: Basic Books.

Smith, Daniel M. 1965. The Great Departure: The United States and World War I, 1914-1920. New York: Wiley.

Sobel, Robert. 1968. The Great Bull Market: Wall Street in the 1920s. New York: W.W. Norton.

Spencer, Milton H., Colin G. Clark, and Peter W. Hoguet. 1961. Business and Economic Forecasting Homewood, IL: Irwin.

Strange, Susan. 1986. Casino Capitalism. Oxford, UK: Basil Blackwell.

Taitel, Martin. 1941. Profits, Productive Activities, and New Investment Temporary National Economic Committee Monograph #12. Washington, DC: USGPO.

Temin, Peter. 1976. Did Monetary Forces Cause the Great Depression? New York: W.W. Norton.

____. 1989. Lessons from the Great Depression Cambridge, MA: MIT Press.

_____. 1993. Transmission of the Great Depression. Journal of Economic Perspectives. 7(2) Spring: 87-102.

U.S. Department of Commerce [USDC]. 1975. Historical Statistics of the United States: Colonial Times to 1970. two volumes. Washington, DC: U.S. Government Printing Office.

Weinstein, James. 1968. The Corporate Ideal in the Liberal State, 1900-1918. Boston: Beacon Press.

Weisskopf, Thomas E. 1978. Marxian Perspectives on Cyclical Crisis. In Economics Education Project, URPE (ed.), US Capitalism in Crisis, pp. 241-260. New York: URPE.

White, Eugene N. 1990. The Stock Market Boom and Crash of 1929 Revisited. Journal of Economic Perspectives. 4(2) Spring: 67-83.

Williams, William A. 1959. The Tragedy of American Diplomacy. Cleveland, OH: World Publishing.

Willoughby, John A. 1979. The Lenin-Kautsky Unity-Rivalry Debate. Review of Radical Political Economics 11(4) Winter: 91-101.

Winch, Donald. 1970. Economics and Policy: An Historical Study. London: Hodder & Stoughton.

Winnick, Andrew J. 1989. Toward Two Societies: The Changing Distribution of Income and Wealth in the U.S. Since 1960. New York: Praeger.

 [introduction] [section I] [section II] [section III] [section IV ]

[top of this section] [appendices] [notes] [short version]