Industrial crisis

…In the process of its occurrence, the excess capital accumulation of the British cotton industry led to a deadlock, causing the price of raw cotton and labor costs to rise, and speculative business transactions were carried out on a large scale using credit, which eventually led to the collapse of the money market. In this case, the three aspects of the commercial crisis, which began with the collapse of speculative transactions, the credit crisis or financial crisis, which accompanied the paralysis of commercial bill circulation and the expansion of the chain of insolvency, and the industrial crisis, which led to the contraction of production and the sudden increase in unemployment, progressed mutually and showed a general and sudden nature, which was another characteristic of a typical depression phenomenon. Furthermore, in the world market organization at that time, which was centered on Britain, British depressions always appeared as world market depressions, and served as an opportunity to readjust the conditions of accumulation of British industrial capital both at home and abroad. …

*Some of the terminology that refers to "industrial crisis" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…その発生過程では，イギリス綿工業の過剰な資本蓄積が，原料綿花や労賃の騰貴を招いて行き詰まるとともに，投機的な商取引が信用を大規模に利用してすすめられ，やがて貨幣市場の迫（ひつぱく）を介して崩壊が始まるのが常であった。そのさい，投機取引の破綻に始まる商業恐慌commercial crisisと，それに伴う商業手形流通の麻痺，支払不能の連鎖の拡大を伴う信用恐慌credit crisisないし金融恐慌financial crisis，およびそれらを通ずる産業恐慌industrial crisisによる生産の収縮と失業の急増の3面が相互媒介的に進行し，全面的激発性を示すところに，典型的恐慌現象のもうひとつの特徴があった。さらにイギリスの恐慌は，イギリスを中心に編成されていた当時の世界市場編成のなかで，かならず世界市場恐慌として現れ，内外にわたりイギリス産業資本の蓄積条件を再調整する契機となっていた。…

※「industrial crisis」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報