On Sun, 5 Sep 1999, Jacob Segal wrote:
> I just returned from the American Political Science Association
> conference in Atlanta where Immanuel Wallerstein gave a lecture in
> which he argued that the world capitalist order was headed towards a
> crisis. This crisis would be a result of a profit squeeze. . .
> Wallerstein believes that neo-liberalism is a temporary and futile
> attempt to forestall the crisis.
LBO 91 lays out a pretty good case that profits for US companies have dramatically jumped up back to their pre-70's levels, implying that neo-liberalism (here called conservatism) has been a rousing success to the crisis when it comes to restoring profitability.
Of course the US isn't the world, it just plays it on TV.
> [Wallerstein believes] Taxation will go up with the spread of the
> welfare state. . . .Should I get my hopes up?
Is there any sign of an expanding welfare state anywhere in the world? I'd be happy if it would stop being universally rolled back. That it will metastasize across the globe until it threatens capital . . .
Nah, I wouldn't get my hopes up.
Michael
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com