Re: Speaking of volatility

[Yoshie Furuhashi <furuhashi.1@xxxxxxx>]

Michael Perelman says:

> Doug, I don't entirely disagree with you, but part of the problem w/ the
> Asian crisis was that it was localized -- leaving the neoliberal
> juggernaut relatively unaffected.  It was the worst of both worlds -- a
> crisis with a neoliberal solution.

The 70s was a period of general crisis, so to speak, general enough
to affect both the West & the USSR, in response to which
neoliberalism arose.  So, a general crisis isn't necessarily in the
interest of the Left.  The next general crisis, which should come out
of the contradictions of neoliberal capitalism (including
contradiction between accumulation and social conditions for
accumulation [like infrastructure investment]), may put an end to
neoliberalism without ending capitalism, especially if the only
proposal on which a large number of leftists can agree is global
Keynesianism of sorts.

Yoshie