Abstract from the concrete
Capitalism spiralling out of control
in Western capitalism in transition
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In this chapter, the authors describe in detail how the developers get together with lawyers and construction companies, with financiers, landowners and state officials. They also describe how to launch fantastic megaprojects that require masses of cement even as they spark protests from evicted homeowners and tenants. China absorbed a massive amount of labour by launching a huge urbanisation and infrastructure development programme, building whole new cities, more strongly connecting southern and northern markets, developing the interior so that it was much better linked to the coast. The Chinese camp effectively rescued capitalism from a threat of deep depression through massive urbanisation and investment in infrastructure. The crisis of over-accumulation of both capital and labour in the period after 1848 was solved by transformations in lifestyle as well as transformations in the built environment.

Western capitalism in transition

Global processes, local challenges

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