L.P. writes, "We are in a period more like the late 1800’s or the early 1900’s. It is a period of both expansion and retrenchment."
As an economic assessment, this is fundamentally wrong. The late 1800s-early 1900s contained the possibility, prospect, and finally the achievement of vigorous growth and real mass reforms. Such reforms are no longer possible under U.S. capitalism, and they are fast vanishing in western Europe. China is not on the list yet; it will run into the same barriers as the "developed" countries in a few decades. (The political economy of this problem is analyzed in The Hollow Colossus, http://www.hollowcolossus.com ) _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
