From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Tue Oct 10 2006 - 08:50:52 EDT
Hi Patrick and Jurriaan: In significant ways, it's not the plain old story told in Volume 3, etc. For example, there is at least in some advanced capitalist nations the rise in working-class savings and the rise in credit card indebtedness by the working class. The growth of pension funds and mutual funds owned (but not controlled) by working-class families isn't part of the Vol. 3 story either. In solidarity, Jerry > No paradox, sounds like plain old overaccumulation of financial capital, > as described in Vol 3, and later by Grossmann, Mandel, deBrunhoff, > Harvey, etc, not so? > Jurriaan Bendien wrote: > > It's certainly a long way from Das Kapital to the mindboggling, >> astronomic financial transactions we can see happening these days. > > Putting it in plain language, I think a paradox in the world economy > > these days is that there is supposedly a "savings glut", yet also, a >> massive and growing amount of indebtedness. So you have growing >> savings, and growing debts, at the same time.
This archive was generated by hypermail 2.1.5 : Tue Oct 31 2006 - 00:00:03 EST