Hard to know...

Greg Nowell GN842 at CNSVAX.Albany.Edu
Thu Oct 15 14:07:01 PDT 1998

Doug's comment about the current crisis is to the point. Hard to know whether this is analogous to the sharp brief crisis of 1907 or something more protracted. If lots of problems go away because more liquidity is offered (cf. my Hilferding post of a few days ago, and kudos to Rakesh, though I wonder if my hint with the page number of the cite may have helped), then we may be talking about "kinks" in the "usual system" (of low wages and getting screwed, etc.) rather than an attack on social fundamentals (as suggested in a summer issue of Le Monde Diplomatique, which s.o. posted in English on this list).

I told you all that if I took money out of the stock market it would skyrocket. I'm an infallible contrary indicator. -gn. -- Gregory P. Nowell Associate Professor Department of Political Science, Milne 100 State University of New York 135 Western Ave. Albany, New York 12222

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