Re: Query on Recessions

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

I believe that your first question is correct.  According to Marx,
recession/depressions shock the system, generally making it stronger, but when then
contradictions become too extreme, then even a small shock can be fatal.

On Fri, Jan 11, 2008 at 09:37:34PM -0600, Carrol Cox wrote:
> Is it not correct that fairly frequent recessions are a necessity of the
> capitalist system? And certainly, in practice, they have been happening
> every five to ten years for a couple of centuries.
>
> But both on this list and in the financial columns of the media everyone
> is fussing about whether or not a recession is coming. Why so much fuss?
> Of course one is coming before too long.
>
> Is there so much fuss because quite a few people think something _worse_
> than even a severe recession may be coming?
>
> Carrol

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

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
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