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Lewis Corey

The Decline of American Capitalism

(1934)

Lewis Corey, The Decline of American Capitalism, New York 1934.
First published by Covici Friede Publishers, New York in 1934.
Transcribed by Einde O’Callaghan for the Marxists’ Internet Archive.
As far as we can ascertain this book is free of copyright.
Copyleft: Lewis Corey/Louis Fraina Internet Archive (marxists.org), September 2007.
Permission is granted to copy and/or distribute this document under the terms of the Creative Commons License.
Proofread by Chris Clayton in September 2007.

TO
Esther
WHOSE FAITH IS PART OF THIS BOOK

PART ONE: THE AMERICAN CRISIS

Introductory

I. Ballyhoo: The New Capitalism

II. The Meaning of Prosperity

III. The Decline of Capitalism: General Survey

Summary

PART TWO: PROSPERITY, PROFITS, AND WAGES

Introductory

IV. Profits and Prosperity

V. The Policy of High Wages

VI. Profits and Wages: State Capitalism

Summary

PART THREE: CONTRADICTIONS OF ACCUMULATION

Introductory

VII. Accumulation and the Composition of Capital

VIII. The Fall in the Rate of Profit

IX. Multiplying Contradictions and Capitalist Decline

Summary

PART FOUR: THE ANTAGONISM BETWEEN PRODUCTION AND CONSUMPTION

Introductory

X. Economic and Class Contradictions

XI. Excess Capacity, Competition, and Speculation

XII. The Onset of Crisis and Depression

XIII. Production and Consumption: Capitalist Decline

Summary

PART FIVE: UNEMPLOYMENT, TECHNOLOGY, AND CAPITALISM

Introductory

XIV. Prosperity and Unemployment

XV. Disemployment and Surplus Population

XVI. The Economics of Technology

Summary

PART SIX: CONCENTRATION OF INCOME AND WEALTH

Introductory

XVII. Class Distribution of Income

XVIII. The Multiplication of Stockholders

XIX. Class Distribution of Wealth

Summary

PART SEVEN: MONOPOLY CAPITALISM AND IMPERIALISM

Introductory

XX. Trusts: Concentration and Combination

XXI. Monopoly and Finance Capital

XXII. The Dynamics of Imperialism

Summary

PART EIGHT: THE STRUGGLE FOR POWER

Introductory

XXIII. Prosperity and Capitalist Decline

XXIV. State Capitalism, Planning, and Fascism

XXV. The Crisis of the American Dream

XXVI. The American Revolution

Sources Cited

Graphs:

I. Major Economic Trends 1896-1919

II. Prosperity in Action 1923-29

III. The Share of Labor in Prosperity 1919-29

IV. Capital and Labor in Depression

V. Changes in the Composition of Capital

VI. The Fall in the Rate of Profit

VII. Contradictions in Production and Consumption

VIII. The Stakes of Speculation 1923-29

IX. The Basic Factors in Capitalist Production

X. The Creation of Disemployment

XI. The Upward Trend of Unemployment 1900-33

XII. Production, Wages, and Capital Claims

XIII. Class Distribution of Income 1920-29

XIV. Class Distribution of Stock Ownership 1928

XV. Class Distribution of Wealth 1928

XVI. Concentration and Centralization 1923-29

XVII. The Dynamics of Finance Capital

XVIII. American Imperialism in Action

XIX. American Class Divisions 1870-1929

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Last updated on 30.9.2007