From: glevy@pratt.edu
Date: Thu Mar 20 2008 - 19:39:42 EDT
> Nobody really knows what the effect of the total outfall will be, all they > have is the statistical apparatus of all the wellknown economic > indicators, plus the historical experience of this kind of crisis. Hi Jurriaan: What would be historical examples of "this kind of crisis"? Do you mean by this kind of crisis a financial crisis that becomes a general economic crisis? There has been a lot of discussion in recent days comparing the recent Japanese crisis to the one originating in the US but this doesn't seem to me to be on target for a variety of reasons - not the least of which is that Japan experienced a period of deflation whereas the US looks like it will experience a recession cum inflation (stagflation). > The FT did this article where they claimed that socialists think that a > recession would be a good thing, Sadly, there's some truth to that. There *are* some socialists who have been wishing for an economic crisis for many years: in their simplistic way of thinking a recession will mean a radicalization which will create pre- and revolutionary situations. For the most part, those who believe that are isolated from the workers' movement ... and it shows. In solidarity, Jerry _______________________________________________ ope mailing list ope@lists.csuchico.edu https://lists.csuchico.edu/mailman/listinfo/ope
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