[Pen-l] Re: Neo-classical crises

["Michael Nuwer" <nuwermj@xxxxxxxxx>]

Max Sawicky wrote:
> On my ever-lengthening to-do list is investigating the mainstream's 
> counterpart to marxian crisis theory.
>
> Seems to me it is reduced to a currency crisis or bubble and, in 
> contrast to the claims of high theory, tends to the anecdotal and 
> episodic -- maybe historical -- rather than seen as a basic feature of 
> capitalism.  (Reminds me of the classic SNL sketch of Three-Mile Island 
> where Richard Benjamin says 'we have had a . . . surprize.')  Or, in re: 
> the Great Depression, a consequence of imperfect economic knowledge 
> which has since been rectified.

James Livingston has some interesting comments on this point:

Their Great Depression and Ours
Part I
   http://hnn.us/articles/55368.html
Part II
   http://hnn.us/articles/55614.html
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