Abstract
In 1979 I put forward the hypotesis (1) that Kondratieff cycles express the movement in the regulation of the relation in capitalist production. I understood by this the fact that long-term fluctuation, observed in a series of production or price data, originated in the development of contradictions between the production relations and the productive forces. This development poses the question of changing the tendency and partial or total transformation of these very relations. For example, at a certain stage the tendency to increase the relative exploitation gets into contradiction with the development of material and human productive forces, and thus poses the necessity of changing the tendency. The origin of fluctuation is in the contradiction and this is in the nature of capital.
Tibor Wasko (IIASA) has translated this paper into English. I would like to thank him for his extremly hard work in dealing with this difficult task.
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Notes
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© 1989 Springer-Verlag Berlin Heidelberg
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Fontvieille, L. (1989). The Movement of Capital’s Composition : Long Term Fluctuations and Trend. In: Di Matteo, M., Goodwin, R.M., Vercelli, A. (eds) Technological and Social Factors in Long Term Fluctuations. Lecture Notes in Economics and Mathematical Systems, vol 321. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-48360-8_11
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DOI: https://doi.org/10.1007/978-3-642-48360-8_11
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