Gerald Levy wrote:
> (1) [an empirical/historical question] Re the late 19th century (in the
> advanced capitalist economies), I think you are right. Yet, I am
> curious about your comment that you believe "something similar might
> be brewing today." Where do you see the evidence of this possible
> development?
Right now capital is depreciating very quickly. The only thing that is
holding off a repeat of the late nineteenth century experience is the
extreme protection of intellectual propery and patent rights that
protects capital from competition in the high profit, high tech sectors.
-- Michael Perelman Economics Department California State University Chico, CA 95929Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu