Technology and Distribution in Managerial Capitalism: The Chain of Historical Trajectories a la Marx and Countertendential Traverses
Five phases can be distinguished in the history of technical and distributional change in U.S. capitalism since the late 19th century. Three such phases manifest the features put forward in Volume III of Capital governing the declining trend of the pro t rate and can be denoted as trajectories a la Marx Two other periods (in particular 1910 1963) reveal symmetrical trends. They are the expression of the changing con gurations of the dynamics of productive forces and relations of production, given the continuing transformation of relations of production in managerial capitalism. This analysis supports the hypothesis that U.S. capitalism entered a new trajectory a la Marx after 2000. Contact: gerard.dumenil@u paris10.fr Website: http:/www.jourdan.ens.fr/levy/