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After examining the character of the downturn and existing explanations for it, the article provides an alternative classical Marxian account based upon the methodological and theoretical framework developed by Henryk Grossman. This article investigates the long- and short-run dynamics of capital accumulation in Canada leading up to and culminating in the economic downturn of 1990–2.
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1
Output grew by 4.5 per cent in 1988. See cansim Table 379-0023.
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2
Kozak 1991a.
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3
Kidd 1990.
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5
Langan 1990b.
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7
Milner 1990.
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10
Walsh 1991.
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11
Fortin 1996, p. 783.
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12
Walsh 1991.
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13
Fortin 1996, p. 761.
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15
Lewis 2003, p. 147.
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16
Fortin 1996, p. 783.
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17
Caulfield 2010, p. 133.
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18
Fortin 1996.
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24
American Bankruptcy Institute 2012.
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26
Siklos 2006, p. 317.
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28
The Economist 2003, p. 95.
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30
Dowling 1991.
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31
Donner 1990.
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33
Yakabuski 1990.
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35
Milner 1990.
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36
Fortin 1996, pp. 762–73.
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37
Fortin 1996, p. 781.
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38
Lewis 2003, pp. 132–4.
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39
Stanford 1999, p. 211, emphasis added.
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40
Stanford 1999, pp. 195–6.
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43
Laidler and Robson 2004, pp. 10–12.
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44
Freedman and Macklem 1998, pp. 646–65.
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45
Freedman and Macklem 1998, p. 662.
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46
Freedman and Macklem 1998, p. 651.
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47
Fortin 2001, p. 118.
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49
Urquhart 1991 and Blinch 1990.
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51
Cited in Fortin 2001, emphasis added.
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54
Armstrong, Glyn and Harrison 1991.
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55
Sweezy and Baran 1966.
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56
Harvey 2006, p. xxiii.
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57
Kuhn 2009, p. 7.
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60
Grossman 1992, p. 61.
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62
Tsoulfidis 2010, p. 112.
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63
Marx 1991, p. 179.
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64
Marx 1991, p. 338.
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65
Rinehart 2006, p. 154.
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66
See Marx 1991, pp. 317–75.
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67
Grossman 1992, pp. 102–3.
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68
Marx 1991, p. 360.
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69
Grossman 1992, p. 76.
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70
Grossman 1992, p. 115.
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71
Grossman 1992, pp. 114–15.
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72
Marx 1991, p. 489.
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74
Kuhn 2007, p. 135.
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75
Saad-Filho 2000, pp. 345–46.
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76
Saad-Filho 2000, pp. 347–9.
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85
Rusk 1990.
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86
McGillivray 1991.
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87
Cook 1991, emphasis added.
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88
Lewis 2003, p. 68.
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89
Lewis 2003, p. 76.
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91
Stanford 1999, pp. 199–200.
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92
Stanford 1999, p. 201.
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93
Lewis 2003, p. 147.
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95
Lewis 2003, p. 76.
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97
Lewis 2003, p. 5.
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98
Lewis 2003, pp. 3, 39.
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99
Lewis 2003, p. 11. On p. 145 he notes: ‘Experiencing deep economic insecurity, people felt their economic situations to be precarious; people conceptualized the state, and particularly its welfare functions, as the problem; and people supported parties that promised to restore control over their economic lives by eliminating the deficit and retrenching the state.’
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100
Stanford 2001.
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101
Lewis 2003, pp. 133–4.
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102
Lewis 2003, p. 132.
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104
Yalnizyan 2009, p. 14.
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105
Lewis 2003, p. 148.
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107
Fortin 2001, p. 116.
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109
Stanford 2001, p. 153. Canada was the first G7 country to balance its budget in this period.
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110
Lewis 2003, p. 135.
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113
Stanford 1999, p. 211.
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123
Lewis 2003, p. 147.
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125
Lewis 2003, p. 147.
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130
Langan 1990a.
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131
Shaikh 2011, p. 45.
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133
Siklos 2006, p. 440.
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135
Kozak 1991b.
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136
Corcoran 1990.
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137
Bank of Canada 1995, p. 24.
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140
Lewis 2003, p. 133.
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141
Blinch 1990.
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142
Fung and Yuan 1999, p. 260.
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144
Laidler and Robson 2004, p. 13.
| All Time | Past 365 days | Past 30 Days | |
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Search for other papers by Geoffrey McCormack in
Current site
Google Scholar
PubMed
After examining the character of the downturn and existing explanations for it, the article provides an alternative classical Marxian account based upon the methodological and theoretical framework developed by Henryk Grossman. This article investigates the long- and short-run dynamics of capital accumulation in Canada leading up to and culminating in the economic downturn of 1990–2.
| All Time | Past 365 days | Past 30 Days | |
|---|---|---|---|
| Abstract Views | 664 | 188 | 15 |
| Full Text Views | 199 | 3 | 0 |
| PDF Views & Downloads | 70 | 8 | 0 |
