Charles Brown wrote:
>CB: So, have you concluded that the downturn side of the business
>cycle has been lessened in the U.S. by some fundamental cause, or is
>it just that the U.S. had unusual advantages compared to other
>countrie in this period such as the only one standing after WWII ,
>etc. ?
>
>During the last fifty years, what has been the trend in auto employment ?
>
>What was the ratio of expansionary to bust phase before the last
>fifty years ? What is the ratio for most of the world, not just the
>U.S. ? Perhaps the U.S. has figured out how to dump some of its bust
>phase onto other countries, like Southeast Asia in 1998.
>
>What is your point ? That U.S. capital has solved the business cycle
>of capitalism ?
Did I say anything about solving the business cycle? Did I ever say
the U.S. expansion wasn't at least in part dependent on distress in
the rest of the world? Did I ever say the U.S. didn't have special
advantages? These are all part of analyzing the expansion, about
which I've seen rather little in "progressive" circles. What I see a
lot of is getting excited when there's a crisis.
Doug
