Re: Re: Speaking of volatility

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

The 70s were interpreted as a failure of the "left," opening the way for a
move to the right as a solution.  The failure of this decade will be seen
as the responsibility of the right.

On Fri, Jul 13, 2001 at 01:53:01PM -0400, Yoshie Furuhashi wrote:
> 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
>

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

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