"Better times" cannot sustain stock prices

Carrol Cox cbcox at rs6000.cmp.ilstu.edu
Sun May 3 10:13:24 PDT 1998


Doug writes:


> [SNIP] It's not hard imagining that process reversing, though god knows
> whether it will happen in 1998 or 2027.
>
> Doug

This "god knows whether" seems to me to be one of the key points for Marxists, and one of the services Doug's LBO performs for us is as a constant reminder not only that marxists possess no crystal ball but that we don't even want one. One point that (despite rather extensive reading on the subject) I'm still not wholly clear on, and we all need to have deeper and deeper knowledge of, is just how the fact of the continuation of the 1974 slump for 10s of millions of households is to be grasped analytically in its relationship to the long boom which has *also* developed since then.

Carrol



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