Greetings Economists, On Nov 16, 2007, at 10:56 AM, Charles Brown wrote:
The new recessions are spot recessions, like putting single states like Michigan in recession, but not the economy of the US as a whole. Somehow the US has avoided significant GDP slump. The business cycle, in the traditional sense, seems to be blunted for the US. economy
Doyle; Maddening isn't it? Being from the catastrophist camp watching them spot recession and get away with it has been difficult to endure. The defeat of that sense of crisis impending has been hard. I was reading in the Grundrisse recently about how Marx gave up after 1848 slowly, but recognized pipe dreams before a lot of the left did. And for a long long time expected nothing to happen in his lifetime. I think your point then is well taken. We need practical sound thinking not pipe dreams. Then when one says well it won't be anymore difficult this time than before, and see if that turns out to be true is realistic. Which after all is why Marxist are supposed to be realists. thanks, Doyle Saylor
