[lbo-talk] Sole cause of all this woe?

[C. G. Estabrook]

But wasn't the principal internal contradiction the decline of the rate of 
return on capital?  --CGE

Mike Beggs wrote:
> On Thu, Feb 19, 2009 at 10:32 AM, C. G. Estabrook <galliher at uiuc.edu> wrote:
> 
>> "...the breakdown of the Bretton Woods system in the early 1970s is
>> probably the major international event since 1945, much more significant in
>> its implications than the collapse of the Soviet Union."
>>
>> --Noam Chomsky, February 10, 2009 <http://www.fpif.org/fpiftxt/5860>
>>
> 
> Bretton Woods broke apart because of internal contradictions though, right?
> He makes it sound like everything was working just fine, then a bunch of
> people came along and deregulated everything for some reason and it all went
> to hell.
> 
> Cheers,
> Mike Beggs
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