Re: [Pen-l] Depressions

[soula avramidis <soulaavramidis2002@xxxxxxxxx>]

there is something eurocentric about the word depression... I have worked once on least developing countries and some unemployment rates were close to 90 percent. and much of the same for the social dislocation throughout the third world. and if the case may be that if value can be created by non-economic factors, then that could mean that the extraction of surplus in the centre is positively related to pauperisation of the periphery. and as Tchkhov says: "even an imbecile can cope with a crisis. It's the everyday life that exhausts us"

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From: Carrol Cox <cbcox@xxxxxxxxx>
To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Sent: Tuesday, October 28, 2008 1:48:20 AM
Subject: [Pen-l] Depressions

Depressions can't be close to carbon copies of each other.

Assuming that one (whatever we mean by the term) is underway, what might
it look like, compared/contrasted to the '30s?

Some things will certainly change appearancesd. Social Security payments
and Medicare change the obligations of families in supporting the
elderly, which should make a big difference.

What else?

Carrol

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