I'm not sure this set up of opposing frameworks represents those found on
PEN. I don't recall who on PEN-L makes the move that increases in
productivity should be equated with the notion that there is a
"New Economy", one that is substantively different from what preceeded it
in terms of source of productivity, capitalism as its source of inner
contradiction, manufacturing as its base (versus 'high tech' or service
sector based growth...)...On that score it seems that what you and Lou are
arguing is rather similar to the rest of the list. On the other hand, the
over-production under-accumulation aspect of your argument is one that
clearly generates some disagreement. Who would disagree with the critique
of 'new economy' mythology on this list though?
Steve
Stephen Philion Lecturer/PhD Candidate
Department of Sociology
2424 Maile Way
Social Sciences Bldg. # 247
Honolulu, HI 96822
On Mon, 2 Jul 2001, Mark Jones wrote:
> typo alert, apologies. The intro to Elliott should read:
>
> [Is capitalism suffering from over-production, as some argue, or is there a
> capital shortage bordering on famine, at the heart of the world crisis and
> an indicator that capitalism has entered a historical impasse, as Louis
> Proyect and
> I argue?
>
> Larry Elliott in today's Guardian says yes, there is a New Economy. He
> argues there may be a long wave of growth beginning and that we are at
> the start of a Kondratiev upwave. In future postings I will show why such
> optimism is misplaced, and why the present world crisis is
> qualitatively different and much more serious than earlier capitalist
> crises.
> Mark Jones]
>
>
