> -----Original Message-----
> From: [EMAIL PROTECTED]
> [mailto:[EMAIL PROTECTED]]On Behalf Of Peter Dorman
> Sent: Friday, February 25, 2000 4:31
> To: [EMAIL PROTECTED]
> Subject: [PEN-L:16646] Re: Re: De Long on NPR
>
>
> Surely I can't be the only one who is nervous about the interlocking tangle of
> high private indebtedness, the reliance of demand on very high propensities to
> consume, the massive influx of portfolio investment, and the overvalued stock
> market (with its wealth effects in goods and credit markets). Doesn't this
> just lead to increasing fragility over time -- and doesn't the international
> dimension of the indebtedness mean that we may not have the institutional
> resources to respond to a sudden change in psychology? (We won't know for sure
> until it happens...)
>
> I've never been a "heighten the contradictions" kind of guy.
>
> Peter
>
> [snip]
I seem to remember reading that Marx was delighted when an economic crisis struck. It
could have
been 1857 but I'm not sure. I think he was hurt financially - journalism work dried up
and/or his
wife's inheritance went down the toilet.
I think people would be a lot more interested in finding out about good old-fashioned
socialism if
things took a dramatic turn for the worst.
Cheers
David McMullen
[EMAIL PROTECTED]
The Socialism Web Site
http://home.vicnet.net.au/~dmcm
