I don't think that the crisis is a wage squeeze. What gave you that impression? I do think that the crisis has caused business to squeeze wages to increase profits, but I think we would all agree with that assessment.
My reading of Brenner is that there is excess capacity and that governments attempt to push the contractionary pressures onto others by screwing around with their exchange rates. As a result, the problems shift from one region to another, but the excess capacity remains. [EMAIL PROTECTED] wrote:Re. Perelman’s review I’d say that it is very informative and friendly, as > I also discovered that (excuse my > ignorance) Perelman is in complete agreement with the Brenner’s analysis > of the US crisis, a wage squeeze approach. I hope I am not exaggerating. > -- Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901
