Re Patrick's [6106]: > Also, the international situation was very much different during > 1945 - 1973 than it is today. Germany, Japan, China, and the USSR > - along with the US - all enjoyed substantial growth during this > period. Today, Japan has been in the tank for over a decade. The > USSR has fallen apart and the economies of many of its former > members are basket cases. Germany also is having problems. > Basically, the US has the strongest economy, at least > among the largest economies in the world. These are all powerfull arguments *for* the claim that during the current period the international capitalist economy is undergoing a 'crisis' rather than a 'garden-variety recession'. While there is uneven development internationally, represented by what you claim to be the 'strength' of the US economy, what about the *inter-dependence* and *inter-connectedness* of the US economy with the rest of the world capitalist economy? For these reasons, many economists from around the world (including some on this list) have been expecting the 'other shoe' (the US economy) to drop for years now. What do you attribute the strength of the US economy to vis-a-vis the rest of the capitalist world? How has the crisis in the rest of the world capitalist economy (don't you believe 'crisis' to be an accurate descriptive term for the current state of the *world* capitalist economy?) afected the 'strongest economy'? In solidarity, Jerry
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