Henwood's theis, was Re: Immanuel Wallerstein

[christian a. gregory]

I think the point here is to note how frequently "crisis" gets invoked
without any specificity, with the implicit or explicit hope that disaster
will also bring historical redemption for the left. It does matter what kind
of a crisis you're talking about (a currency crisis, a profitability crisis,
a banking crisis, solvency crisis, etc.), when and where such things
originate, and how capital responds. To be wary of the term isn't to believe
that capital has never been in crisis. It is to believe that we should be a
little less ready to jump up and down at the first signs of economic
disaster. You gotta ask, "crisis for whom?"

Christian