Re: [OPE-L] The ideology of capitalist decline and decadence

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Wed Mar 15 2006 - 13:18:10 EST

>It is an interesting paper, the Levy institute ones usually are.
>It assumes certain things which may seem a constant in the US today
>but are not invariant. In particular it assumes that the private sector
>will be in net financial balance. Why does the US household sector
>not run a financial surplus?
>If it did that would partially finance the govt debt and reduce
>the current account deficit. At other times and places the
>household sector can run a large surplus. I remember that in
>the late 70s in the UK it was running at 17% of household income.

Paul or anyone else,
Who is saving and who is not? Who is going into debt?
Do you know of any US data on household savings and debt
broken down by class, race, gender, lifecycle stages or other possibly
interesting indicators?
We won't be able to answer your important question without more
disaggregated data.
Yours, Rakesh

>-----Original Message-----
>From: OPE-L on behalf of Rakesh Bhandari
>Sent: Tue 3/14/2006 4:52 PM
>Subject: Re: [OPE-L] The ideology of capitalist decline and decadence
>Galbraith's paper on the fiscal facts could be read as a counter
>to the doom mongering about the dollar. I'd be interested in any
>comments on it.

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