,! ,9T]NATIONAL ,ECONOMIC ,SITUATION 

,PEOPLE 3 

,AU?OR 3 ,F$]AZIONE ,DEI ,COMUNI/I ,AN>*ICI 

,TEXT 3 

#a4 ,! CRISIS 

  

#bg WAS ! YE> :5 ! 0NEO-LIB]AL0 MODEL ( ECONOMIC DEVELOPM5T 5T]$ AN IRREP>ABLE P]IOD ( CRISIS FOLL[+ ITS 9TRODUCTION 9 ! #a#i#hS4 ,IT PRODUC$ A DOM9O EFFECT3 ! PROP]TY BUBBLE BUR/1 MORTGAGE REPAYM5TS FROM SECTORS ) 9SECURE 9COMES FAIL$ TO BE MADE1 H\SE PRICES BECAME EXCESSIVE1 BANK L5D+ BECAME OV]LY 0G5]\S01 ! SOLV5CY ( BANKS WAS QUE/ION$ & !IR %>E PRICES FELL DRAMATICALLY OV] A V]Y %ORT P]IOD4 ,! 5TIRE CR$IT SY/EM CRA%$4 ,9 A MONET>Y ECONOMY ( PRODUCTION .<#a.>1 ! BANKS >E NOT JU/ ONE SECTOR AMONG MANY - !Y >E ! FULCRUM ( ! CIRCULATION ( GOODS & MONEY4 

,CAPITALISM IS ,M-,G-,M .<#b.> & CR$IT ANTICIPATES1 FLUIDIFIES & EXP&S ?IS CYCLE4 ,/ASIS HAS AN 5ORM\S EFFECT ON ALL SECTORS ( PRODUCTION4 ,A BANK+ CRA% ?US IMM$IATELY BECOMES AN ECONOMIC CRISIS ) A DROP 9 ,G,D,P1 OV]-PRODUCTION ( GOODS :I* CANNOT F9D BUY]S1 9T]RUPTIONS 9 PRODUCTION & UNEMPLOYM5T4 

,! M>KET IMPLODES AS IT IS UNABLE TO REPRODUCE TRADE BETWE5 BUY]S & SELL]S4 ,! ,C5TRAL ,BANK1 I4E4 ! LA/-RESORT.<#c.> L5D]1 OR FIR/-RESORT.<#d.> L5D]1 MU/ 9T]V5E1 FLOOD+ ! CIRCULATION ) LIQUIDITY1 9 O!R WORDS PR9T+ MONEY & GU>ANTEE+ ! BANK CIRCUIT ) CURR5CY4 

,BUT IT IS NOT 5\<3 ! GOV]NM5T MU/ ACT 9 ORD] TO GU>ANTEE BUS9ESSES1 SUPPORT !M ) CR$IT1 ACQUIRE !IR TOXIC ASSETS1 EV5 NATIONALIZE !M BY BECOM+ ! MAJORITY %>EHOLD]4 

#b4 ,! ,U,S,A 

  

,! CRISIS HIT ! ,U,S,A1 ! C\NTRY ON :I* ! SY/EM WORLDWIDE H+ES1 ! C5T] ( ! WORLD'S ECONOMY4 ,?IS SP>K$ (F AN AVALAN*E :I* SMO!R$ ! O!R ,/ATES1 PRODUC+ A WIDESPREAD DOM9O EFFECT4 

,A SPECT] LOOM$ - ! #aibi CRA%4 ,BUT ?IS WAS AVOID$ BECAUSE ! SY/EM TODAY IS MU* MORE COMPLEX & DIFF]5TIAT$2 ! V>I\S >TICULATIONS S(T5 ! BL[ ( ! TSUNAMI1 DIV]T+ IT1 R$UC+ ITS IMPACT1 SPREAD+ IT \T OV] TIME & SPACE4 ,! CRISIS IS /ILL !RE BUT IT IS DILUT$1 WAT]$ D[N & (FSET BECAUSE ! IMPACT ( ! AVALAN*E IS LESS5$4 

,NATIONAL DEBT ACTS LIKE A TR5*1 A BRAK+ EFFECT1 EV5 ?\< ! ECONOMY FAILS TO %AKE (F /AGNATION AFT] #c YE>S4 ,! DEFICIT IS #a#a.01 #a#c.01 #a#b.01 ) DEBT 9 ! REGION ( #a.0 ( ,G,D,P4 

,! ,U,S,A SP5DS MORE ?AN ! CO/ ( ,WORLD ,W> ,I,I1 BUT EV5 AFT] #aa QU>T]S ( /ASIS1 ! ,F$ IS ONCE AGA9 READY TO 9JECT LIQUIDITY 9 SU/A9$ DOSES4 ,BUT EV5 ?IS IS NOT 5\<3 ! EX*ANGE RATE IS ADJU/$1 ! PRICE ( ! DOLL> DROPS1 IT IS DEVALU$ 9 ORD] TO BOO/ EXPORTS BUT ALSO TO R$UCE ! WEI<T ( ITS DEBT ) ! RE/ ( ! WORLD4 

,GIV5 ?AT IT HAS AT ITS DISPOSAL ! CURR5CY ( 9T]NATIONAL PAYM5TS & RES]VES1 ! ,U,S,A %IFTS ITS PROBLEMS ONTO O!R C\NTRIES1 IMPOS+ ITS DEBT ON O!RS4 ,9 O!R WORDS1 IT R$UCES ITS DEBT BY DEVALU+ IT4 

,! NEW IMP]IALISM DOES NOT EXPORT CAPITAL - IT EXPORTS DEBT1 I4E4 IT HAS ! ABILITY NOT TO PAY IT (F BECAUSE IT CAN %IFT IT OR R$UCE ITS VALUE4 ,?IS IS A SC5>IO WE SAW BACK 9 #aihe AT ! ,PLAZA ,HOTEL1 :5 ! DOLL> WAS DEVALU$ AGA9/ ! Y5 BY #e.0 & BY #b#e.0 AGA9/ ,EUROPEAN CURR5CIES OV] A %ORT P]IOD4 

,IT IS HAPP5+ AGA9 TODAY & ! 9/ABILITY ( EX*ANGE RATES IS A SIGN ( ! REORGANIZATION ( P[] )9 ! WORLD SY/EM - A PHASE ( H>% COMPETITION1 ( BITT] CLA%ES TO R$EF9E ! ECONOMIC HI]>*IES & TO P]PETUATE ,AM]ICAN SUPREMACY1 :I* DOES NOT LIMIT ITSELF TO ECONOMIC W>S BUT 9CREAS+LY MAKES USE ( MILIT>Y =CE 9 UN/ABLE ZONES4 

,9 ! SPACE ( A FEW WEEKS1 !RE IS A #c.0 RISE 9 ! PRICE ( AN \NCE ( GOLD1 ! LA/ REFUGE1 ! ONE ?+ ?AT CAN ALWAYS BE RE-SOLD1 AN AN*OR 9 ! FLOOD ( 9/ABILITY4 

#c4 ,*9A 

  

,*9A IS NOT ! ,JAPAN ?AT LO/ ! W>4 ,IT DID NOT SIGN ANY SECRET CLAUSES & IS FULLY AUTONOM\S 9 ITS ECONOMIC POLICY4 ,IT IS NO SIMPLE VASSAL ?AT CAN BE CALL$ BACK 9TO L9E ) ! RULES ( HEGEMONY4 

,! CLA% WILL !RE=E BE BITT]1 BUT DRAWN \T 9 ALT]NAT+ PHASES1 DUE ALSO TO ! FACT ?AT 0M>KET SOCIALISM0 HAS ACT$ AS A C\NT]-T5D5CY TO ! ECONOMIC CRISIS 9 METROPOLITAN >EAS4 ,) ! /ALL 9 EXPORT GR[?1 OR RA!R 9 ITS RATE ( 9CREASE1 ,*9A HAS DEVELOP$ A ,KEYNESIAN POLICY ( 9VE/M5T 9 9FRA/RUCTURE1 ( RE/RUCTUR+ WORK PROCESSES1 ( 9CREAS+ ! RANGE ( GOODS ON ! M>KET1 & 9 P>TICUL> 9NOVATIVE GOODS4 ,IT ALSO CONT9UES TO 9VE/ 9 $UCATION & RESE>* & IS EV5 9TRODUC+ LEGISLATION ON BASIC WORK]S' RI<TS4 

,! GR[? 9 9T]NAL DEM& ALL[S IT TO CONT9UE GR[+ AT A RATE ( #a.01 MAK+ IT ! SECOND-L>GE/ ECONOMY 9 ! WORLD BAS$ ON ,G,D,P AFT] ! ,U,S,A1 & IT HAS BECOME A DRIV+ =CE 9 A REVIVAL ( GR[? 9 ! WORLD'S ECONOMY - #c.0 9 #ba - ) PUR*ASES ( RAW MAT]IALS & 9VE/M5T GOODS 9 EV]Y >EA ON EV]Y CONT95T4 

,AS ( ?IS YE>1 ,*9A IS N[ ! WORLD'S TOP C> MAK]1 ALSO TOPP+ ! C> SALES TABLES4 ,?IS CAN BE SE5 9 ! MULT9ATIONALS' ACC\NTS :]E PR(ITS >E RIS+1 BUT ALSO 9 ! NUMB] ( /RIKES & WAGE 9CREASES = WORK]S & ! EASE ) :I* !Y >E CONC$$ BY ! BOSSES & ACCEPT$ BY ! GOV]NM5T4 

,*9A IS NO LONG] P]IPH]AL1 SET AP>T FROM ! PRODUCTIVE CYCLE ( ! METROPOLIS1 ! FACTORY1 ! MULT9ATIONALS4 ,IT IS AN AUTONOM\S 5TITY ( CAPITALI/ ACCUMULATION ?AT HAS REA*$ ITS IMP]IALI/ MATURITY EXPORT+ 9VE/M5T CAPITAL TO ,AFRICA & ,LAT9 ,AM]ICA 9 ORD] TO GU>ANTEE ITSELF RAW MAT]IALS1 BUT ALSO ACQUIR+ ! COMM]CIAL SPACES IT NE$S = EXPORTS 7,GREEK PORTS1 = EXAMPLE74 

#c#e.0 ( ITS ,G,D,P IS 9 EXPORTS1 BUT ONLY #b.0 IS 9 ! METROPOLITAN >EAS2 #a#e.0 COMES FROM O!R R\TES1 9CLUD+ A TRADE NETWORK ) NEI<BOR+ ,ASIATIC ZONES1 DEF9$ BY ! ,U,S ,DEP>TM5T ( ,DEF5SE AS ,*9A'S 0PE>L NECKLACE0 - 9 O!R WORDS AN 9TEGRAT$ FACTORY1 ! SYNAPSE 9 A CONNECTION ?AT IS GR[+ ?\< CONT9UALLY BE+ *ANG$ & RE/RUCTUR$ & BECOM+ 9CREAS+LY 9TEGRAT$4 

,JAPAN'S ,M9I/RY ( ,ECONOMY1 ,TRADE & ,9DU/RY PR$ICTS ?AT 9 ! P]IOD #b#a-#a#e1 #e#h.0 ( ! GR[? 9 ! WORLD'S ,G,D,P WILL DEP5D ON ! P]=MANCE ( DEVELOP+ C\NTRIES1 9 P>TICUL> ,BRAZIL1 ,RUSSIA1 ,9DIA & ,*9A4 

,BUT AT ITS REC5T CONGRESS1 ! ,*9ESE ,COMMUNI/ ,P>TY \TL9$ A NEW 0PLAN0 = GR[? )\T SEEK+ TO BOO/ ! MOTOR_/OIL 9DU/RY CYCLE1 HI/ORICALLY ! BASIS ( 9DU/RIAL ACCUMULATION 9 ! ,U,S,A 9 ! #a#i#bS & '#cS & 9 ,EUROPE AFT] ! #a#i#eS4 ,9/EAD1 IT =ESEES 9VE/M5T ( BILLIONS ( DOLL>S BY #bae 9 NEW MAT]IALS1 9 9=MATION TE*NOLOGY1 9 SU/A9ABLE ECONOMY1 9 HI<-VALUE SECTORS1 TOGE!R ) ! EXT5SION ( MATURE 9DU/RIAL SECTORS 9TO UND]DEVELOP$ ZONES1 ?OSE :I* HAVE NOT B5EFIT$ FROM ECONOMIC DEVELOPM5T1 :]E ! CO/ ( LABOR WILL BE CONTA9$ DUE TO ! L>GE RES]VES ( MANP[]4 

#d4 ,EUROPE 

  

,! ,U,S CRISIS HIT ,EUROPE BADLY4 ,ITS ,G,D,P DROPP$4 ,9T]V5TION BY 9DIVIDUAL GOV]NM5TS MO/LY S\<T TO USE PUBLIC DEBT 9 ORD] TO SUPPORT BANKS1 BUS9ESSES & ! BUILD+ SECTOR4 

,! ,EUROPEAN ,C5TRAL ,BANK HAS SUPPORT$ ALL ?IS ) L5D+ RATES NE> Z]O & AMPLE LIQUIDITY4 ,BUT ,EUROPE IS PAY+ ! PRICE = BE+ A COMM]CIAL >EA ) IMPORT-EXPORT TRADE AT #f#c.01 AN 9CID5CE ( #b#a.0 ON ! WORLD'S ,G,D,P1 A S+LE CURR5CY1 BUT NO C5TRAL ECONOMIC PLANN+4 ,EA* C\NTRY HAS ITS [N PECULI>ITIES & PRIORITIES4 ,! DECISIONS TAK5 >E BROK]$1 (T5 SL[ & DEP5D5T ON ! ELECTORAL NE$S ( ! V>I\S GOV]NM5TS4 

,! CONDITIONS REQUIR$ = 5TRY 9TO ! EURO >E PRES5T$ AGA91 I4E4 #c.0 DEFICIT & DEBT AT #f.01 SO ?AT ! P>AMET]S ( ! S+LE C\NTRIES ?AT EXCE$$ !M \T ( NECESSITY CAN BE BR\<T BACK 9 L9E4 ,R$UCE ! DEBT1 L[] PUBLIC SP5D+ 9 ALL >EAS TODAY BUT MA9LY & /RUCTURALLY :]E IT COMES TO SOCIAL EXP5DITURE1 DEF]R$ WAGES & PUBLIC-SECTOR EMPLOYES4 ,DESPITE ! FALL 9 CONSUMPTION1 ! UNEMPLOYM5T & ! /AGNANT GR[? ?AT WILL TAKE YE>S TO RETURN TO ! LEVELS ( #bf 9 ,G,D,P1 MORE EMPHASIS IS PLAC$ ON PR$ET]M9$ MONET>Y P>AMET]S3 9 O!R WORDS1 GU>ANTEE+ ! P[] ( ! BANKS & MULT9ATIONALS1 & ! RULES ( ! M>KET4 

,ONLY BUS9ESSES & 9DU/RY CAN BR+ AB\T ECONOMIC GR[? 7IF !Y RE/RUCTURE ) EXPORTS GO+ TO DRIV+-=CE ZONES !Y MAY REMA9 COMPETITIVE1 IF !Y CONT9UE TO (F%ORE MATURE PRODUCTION & IF EXHAU/$ PRODUCTION IS %UT D[N71 SO !Y MU/ BE ALL[$ TO 9CREASE !IR PR(ITS4 

,UNEMPLOYM5T SWELLS ! RANKS ( ! MANP[] RES]VES & MAKES ?OSE 9 EMPLOYM5T MORE OP5 TO LONG H\RS1 L[] PAY1 FEW] RI<TS & 9CREASES 9 ! 9T5SITY ( !IR EXPLOITATION 7ABSOLUTE SURPLUS VALUE71 BUT ALSO TO GREAT] USE ( PRODUCTIVE =CES 7RELATIVE SURPLUS VALUE71 ) NEW ORGANIZATIONAL TE*NIQUES & NEW MEANS ( PRODUCTION 9 BO? ,G]MANY & ,ITALY 7SU* AS ,F,I,A,T'S ,POMIGLIANO PLANT74 

,! BANKS & CR$IT SECTOR REMA9 ! PROBLEM4 ,DESPITE ! BAIL-\TS TO ! TUNE ( BILLIONS ( EURO1 ! VOLUME & QUALITY ( ! 0TOXIC ASSETS0 !Y HOLD IS UNKN[N 79 O!R WORDS ! TOTAL AM\NT ( UNSALEABLE CR$ITS74 ,! ,E,U HAS DECID$ ?AT ALL ?AT CAN BE DONE IS TO SPREAD !M OV] TIME & ALL[ !M TO BE METABOLIZ$ ?R\< RECAPITALIZATION 7,BASLE ,I,I,I71 ?AT IS TO SAY BY PROVID+ OPPORTUNITIES = NEW1 HI<] PR(ITS ?AT CAN R$UCE ! P]C5TAGE ( ! LOSSES4 

,?US1 IT IS NECESS>Y TO DISC\RAGE TREASURY BONDS :I*1 :ILE !Y PROVIDE 9COME 9 ! %ORT T]M1 >E NOT 5\< TO MAKE SIGNIFICANT IMPROVEM5TS TO ,R,O,E .<#e.>1 ! PR(IT M>G91 ) ! ADD$ RISK = ! SOV]EIGN DEBT ( ,/ATES4 

,IREL& IS SYMPTOMATIC3 :5 ! BANKS W]E NATIONALIZ$1 !IR PROBLEMS - L9K$ TO PROP]TY 7REAL E/ATE7 CR$ITS & ! SPECULATION BUBBLE - SEEM$ TO HAVE BE5 SOLV$ ) AN EXTREMELY L[ P]C5TAGE ( WRITE-(FS1 ONLY TO BECOME A PIT #b YE>S LAT] :I* C\LD ONLY BE FILL$ BY ! ,/ATE ) #c.0 ( ! ,G,D,P4 

,! EURO H+ES ON ,G]MANY1 BUT ,G]MANY'S PR$ILECTION = EXPORT+ MANUFACTUR$ GOODS & = ITS SURPLUSES1 CONDITIONS ITS PRIORITIES & TIES ! O!R C\NTRIES TO ! NE$S ( ITS MULT9ATIONALS1 :O >E 9DIFF]5T TO ! IDEA ( 9CREAS+ CONSUMPTION AT HOME1 BUT OP5 TO 9T5SIFICATION ( PRODUCTIVE FACTORS EV5 BY /IMULAT+ 9NOVATION4 ,9DE$1 IT IS ONE ( ! FEW METROPOLITAN >EAS ?AT /ILL HAS A PRODUCTIVE 9DU/RIAL SECTOR 7#c#e.0 ( ,G,D,P7 9 EXCELL5T HEAL? - LIKE ,JAPAN - :I* ADAPTS ! TYPE ( WORK CYCLES COMMON 9 ,EA/]N ,EUROPE1 ,NOR!RN ,ITALY & ,*9A4 

#e4 ,WE/]N @& ,C5TRAL ,ASIA 

  

,9 ! V>I\S GAPS & M>KETS ?AT APPE> 9 ! 9T]NATIONAL TRADE BETWE5 ! ,U,S,A1 ,E,U & ,*9A1 RELATIONS & SUB-IMP]IALI/ AMBITIONS >E =M$1 = EXAMPLE 9 ,WE/]N ,ASIA 7,IRAN1 ,TURKEY1 ETC471 :]E !Y PLAY AN IMPORTANT ROLE 9 ! CONTROL ( 5]GY CORRIDORS & 9 ! CONTRADICTIONS PRES5T 9 >EAS SU* AS ! ,MIDDLE ,EA/ & ,9DIAN ,OCEAN4 

#f4 ,FUTURE DEVELOPM5TS 

  

,! EVOLUTION OV] ! COM+ YE>S WILL BE CONDITION$ BY ! ECONOMIC CLA% BETWE5 ! V>I\S >EAS1 AS ! ECONOMIC DIFF]5CES 9T]CONNECT ) POLITICAL & MILIT>Y ROLES & !RE WILL BE MOM5TS ( T5SION 9 P]IPH]AL REGIONS = ! CONTROL ( RAW MAT]IALS = FOOD/UFFS & 5]GY1 & = ! NODAL TRAFFIC C5T]S - ! M>ITIME & L& CORRIDORS = CONTA9] TRANSIT4 

,! ECONOMIC CRISIS IS ?REAT5+ ,AM]ICAN SUPREMACY1 DAMAG+ ITS ABILITY TO USE ! WORLD-SY/EM SURPLUS = ITS GR[?1 & ITS USE ( ITS DEBTS 9 ORD] TO APPROPRIATE ! GOODS ( O!RS4 

,BUT ,U,S IMP]IALISM HAS C]TA9 LEAD+ SECTORS AT ITS DISPOSAL ) :I* IT CAN EX]CISE ITS DOM9ION4 ,IT IS ! C5T] ( WORLD F9ANCE1 :]E EV5 AT ! WOR/ MOM5TS ( 9T]NATIONAL CRISIS1 CAPITAL FROM ! RE/ ( ! WORLD FL[S 9 SE>* ( A SAFE HAV54 ,& IT DOM9ATES ! COMMUNICATIONS SECTOR ) REG>D TO ! CREATION & TRANSMISSION ( 0LIFE/YLES01 I4E4 /YLES ( CONSUMPTION & ! E/ABLI%M5T ( VALUES ( USAGE 7,NIKE >E NOT JU/ SPORTS %OES1 O!RWISE !Y W\LD ONLY CO/ A FEW DOLL>S74 

,DOM9ION1 H[EV]1 ALWAYS REQUIRES A MILIT>Y P[] ?AT CAN BE US$ & ?IS IS ! ONLY PUBLIC SP5D+ SECTOR :]E ! ,U,S,A HAS ALWAYS BE5 FIR/1 EV5 ?\< ! FACT ?AT IT HAS BECOME BOGG$ D[N 9 ,IRAQ & ,AF<ANI/AN %[S ?AT TE*NOLOGY & AIR & NAVAL SUPREMACY 9 !MSELVES >E NOT 5\< IF ! T]RITORY IS NOT PRACTICABLE4 

,TE*NOLOGY IS NOT /ATIC & 9DE$ ! NEW ,*9ESE MISSILE :I* CAN NEUTRALIZE AIRCRAFT C>RI]S IS *ANG+ ! BASIC /RATEGIC SET UP ( ! CONTROL ( ! SEAS & ! L& ?AT HAS EXI/$ S9CE ! 5D ( ,WORLD ,W> ,I,I4 

,! ,NEOLIB]AL IDEOLOGY1 :I* TI$ NEV]-5D+ DEVELOPM5T TO ! SPREAD ( ! M>KET1 IS WORN \T4 ,! CYCLE ( WIDESPREAD GR[? HAS COME TO AN 5D4 ,! PHASE ( CONTRACTION1 I4E4 9CREAS+LY BITT] COMPETITION1 IS BEG9N+4 ,?IS 9 ITSELF IS NO?+ NEW = CAPITALISM - BUT OV] ! PA/ #c YE>S IT WAS ONLY TO BE F\ND 9 ! ANALYZES ( A FEW ROMANTICALLY ANTAGONI/IC 0REVOLUTION>IES04 

,CRISIS IS A NORMAL P>T ( CAPITALI/ DEVELOPM5T1 A PHASE ?AT CAN ONLY BE OV]COME ?R\< RADICAL RE/RUCTUR+ & REORGANIZATION ?AT MODIFY BO? P>AMET]S & /RUCTURES 7MODIFICATION ( ! TE*NICAL & ORGANIC COMPOSITION1 DEVALUATION74 

,IT IS NOT A CRA% 9 ! S5SE ( A HALT1 JU/ AN EBB 9 DEVELOPM5T1 OR RA!R ( C]TA9 >EAS1 & H]ALDS A P]IOD ( TRANSITION :5 ECONOMIC & SOCIAL 9/ABILITY OV]:ELM REGUL> BEHAVIOR ( SOCIAL 5TITIES1 ALSO BY REASON ( ! FACT ?AT IT PR(\NDLY MODIFIES ! SOCIAL CONDITIONS4 

,FUR!R 9QUIRY 9TO :E!R WE >E DEAL+ ) ! FALL ( ! IDOL - PR(IT - OR UND]CONSUMPTIONISM IS ( M>G9AL 9T]E/ - :AT WE NE$ TO BE DO+ IS BUILD+ A PRACTICAL & POLITICAL SOLUTION TO ! DI*OTOMY ( SOCIALISM OR B>B>ISM6 

.<#a.> ,SEE ,RICC>DO ,BELL(IORE1 ECONOMI/ AT ! ,UNIV]SITY ( ,B]GAMO1 :O MA9TA9S ?AT LABOR CONT9UES TO PLAY AN IMPORTANT ROLE 9 ! CREATION ( LABOR4 

.<#b.> ,SEE ,K>L ,M>X1 ACCORD+ TO :OM ! CAPITALI/ CYCLE IS NOT ! SAME AS ! 0SIMPLE0 CYCLE ( PRE-B\RGEOIS SOCIETIES1 I4E4 ,G-,M-,G 7GOODS-MONEY-GOODS71 ) ! RE9VE/M5T ( CAPITAL 9TO NEW GOODS4 ,RA!R1 IT IS ,M-,G-,M 7MONEY-GOODS-MONEY71 :]E ! CAPITALI/ 9VE/S MONEY 9 GOODS 9 ORD] TO OBTA9 MORE MONEY4 ,TO EXPLA9 ?IS SPECULATION TO :I* EXTRA VALUE 7KN[N AS SURPLUS VALUE7 IS ADD$1 ,M>X BELIEVES ?AT ?IS EXTRA VALUE MU/ BE S\<T = NOT AT ! LEVEL ( EX*ANGE BUT AT ! LEVEL ( PRODUCTION4 

.<#c.> ,SEE ,HYMAN ,M9SKY1 ,AM]ICAN ECONOMI/ CLOSE TO ! PO/-,KEYNESIANS1 NOT$ = HIS !ORY ( F9ANCIAL 9/ABILITY & ( ! CAUSES ( CRISIS 9 ! M>KET4 

.<#d.> ,SEE ,M>CELLO ,DE ,CECCO1 ,ITALIAN ECONOMI/ :O DEALS P>TICUL>LY ) MONET>Y & F9ANCIAL POLICIES & M>KET OP]ATIONS POLICIES4 

.<#e.> ,RETURN ON EQUITY3 ! 9DEX ?AT EXPRESSES ! NET GLOBAL PR(ITABILITY BR\<T 9TO ! COMPANY BY WAY ( RISK4 

7,S\RCE3 ,RETRIEV$ ON #a#g? ,OCTOB] #bba FROM WWW4FDCA4IT47 

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