From: gerald_a_levy (gerald_a_levy@MSN.COM)
Date: Wed Dec 31 2003 - 08:53:12 EST
Hi Ian. > I'm working on things that may produce some hypotheses > eventually, perhaps along the lines that there are theoretical bounds to > the > shares, beyond which the system begins to break down, in terms of rising > unemployment, higher probability of recessions etc. We've seen many capitalist economies (in Latin America, Asia, etc.) in recent decades where the unemployment rate has mushroomed and recessions have been long-standing and persistent (and often out-of-synch with the cycle in the advanced capitalist nations), but the system doesn't "begin to break down." Rather than breaking-down, institututions and relations become modified and transformed: e.g. the growth in mass poverty has led to the creation of a petty commodity sector in which millions are able to survive by undertaking non-waged labor. I guess the question I'm asking is: what really constitutes a theoretical 'bound' to a social system where the system itself has shown itself to be adaptable to different conditions? In solidarity, Jerry
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