>>> Chris Burford <[EMAIL PROTECTED]> 02/15/00 02:41AM >>>
As my similar post entitled "Economic Problems of Socialism" indicates, I
agree with Jim about not dismissing B & S's arguments even if with
hindsight they are wrong.
On the particular point above, I would make this comment:
While the stock exchanges of the capitalist heartlands continue to rise, we
should not forget that the world economy as a whole is stuck at a level far
below its productive potential. A couple of years ago the ILO argued that
30% of the world's population is either unemployed or underemployed.
In that sense the global economy is stuck in a depression even while the
favoured parts of it are booming.
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CB: This is classically known as uneven development.
CB
