Illustrations

Figures

5.1 Post-peak US real GDP growth: small and big government and neoliberal eras

5.2 Post-peak US unemployment rate: small and big government and neoliberal eras

5.3 Post-peak US price inflation (changes in GDP deflator): small and big government and neoliberal eras

5.4 Post-peak US real interest rates: small and big government and neoliberal eras

5.5 Post-peak US real non-government wage and salary payments: big government and neoliberal eras

5.6 Post-peak changes in the manufacturing profit rate: big government and neoliberal eras

5.7 Post-peak changes in mortgage debt: big government and neoliberal eras

6.1 Income classes

8.1 The optimal solution and G—S tradeoff

8.2 The effect of dα on optimal I

8.3 The Marxian competition effect

9.1 Total and household credit market debt as a percentage of GDP

9.2 NFC credit market debt as a percentage of NFC net worth

9.3 NFC financial liabilities as a percentage of internal funds

9.4 NFC gross interest payments as a percentage of internal funds

9.5 NFC total financial payments as a percentage of internal funds

9.6 NFC financial income as a percentage of internal funds

9.7 NFC debt as a percentage of NFC financial assets

12.1 1980s neoliberal expansion

12.2 1990s neoliberal expansion

13.1 The after-tax rate of profit of the nonfinancial corporate business sector in relation to business cycle expansions and contractions, 1949–2005

16.1 Long-term loan and FDI in Korea

16.2 Investment and saving in Korea

Tables

8.1 Comparative static results

12.1 Labor share over Keynesian and neoliberal regimes

13.1 Empirical identification scheme for the four crisis tendencies

13.2 Factors affecting the decline in the rate of profit

13.3 Contributions to the decline in the profit share of income

13.4 Factors affecting the rise in the wage share of income

13.5 Identifying crisis tendencies in the late expansions

16.1 Foreign debt and net capital inflows into Korea in the 1990s

16.2 Economic performance in Korea after the 1997 crisis