maxsaw wrote:
> In the early 1970's, productivity growth dropped
> in the U.S., well before most of the talk of
> globalization. This trend can explain much of
> subsequent U.S. political economy without need
> for reference to globalization or
> universalization of the market: the need to
> reduce wage growth, attack unions, cut public
> spending, etc.
The better answer is that the previous period was exceptional. I suspect that
the reason includes the spin offs from the intensive scientific efforts
associated with WW II.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
