From: glevy@PRATT.EDU
Date: Sun Nov 18 2007 - 12:40:31 EST
> But as Fred Moseley commented, nobody really knows > the total effects of the events. > A philosopher said to me once, "America likes to gamble with the future of > the world, inviting all to take some more risk". Hi Jurriaan: I agree that nobody knows and hence projections by both catastrophists and bullish economists should be discounted. The problem here is not one of merely poor projections by economists. The problem, most fundamentally, is that the period of late capitalism that we are in is especially volatile and uncertain. While all market activity involves risk and uncertainty, I think that the current period (of what has been called "casino capitalism") has even _more_ risk and uncertainty. Is there, though, an alternative "regime of accumulation" which is being advocated as an alternative by one section of the international bourgeoisie which might reduce the instability of financial and other markets? And how would workers fare in an alternative regime? Stability is not necessarily a good thing for the working class. In solidarity, Jerry
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