Liquidation Sale! (was Replacement costs)

[Rakesh Bhandari]

Ted, Jim O'C's formulations about crisis ridden versus crisis dependent and
accumulation through crisis are quite helpful (especially the latter about
which I posted some time back). Yet if there is crisis dependence, then
doesn't this mean George Bush should be taking  the credit for today's boom
for having partially cleaned the system out through the recession of the
early 90s? That's a conclusion that neither Republican Lawrence Lindsay nor
Democrat Martin Bailey will probably agree to (but that's why Robert
Mundell has the Nobel prize).
yours, r