Re: [PEN-L:12383] the long term

["Charles Brown" <CharlesB@xxxxxxxxxxxxxxxxxxxxxxxxx>]

Keynes'   *in the long run we are all dead* notwithstanding, in the long term 
there
will be a business downturn even in the U.S. Then the hoodwinking of the people 
about
the amazing length of the boom , the unprecedented, uninterrupted growth of the 
GDP
will come home to roost. It will be the stupid economy , instead of the economy,
stupid. The class struggle will heat up and the revolution will be thorough, 
more
thorough this time than the last, if we can unite the working class for 
struggle and
winning based on the concrete analysis of concrete events in the short term.

John Henry

>>> michael perelman <michael@xxxxxxxxxxxxxxxxx> 10/07/99 10:16AM >>>
The recent wild debate about the origin of capitalism suggests a
different direction to me.   While we often take a long look backward,
the value of such analyis seems to be what it can tell us about
understanding long term trends.  Unfortunately, we are often likely to
concentrate on short term developments when trying to understand the
economy.  I would like to see some progress in using the long term
analysis in looking forward.

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx