[lbo-talk] Austerity In The Face Of Weakness

Gar Lipow the.typo.boy at gmail.com
Wed Sep 1 21:25:23 PDT 2010


On Wed, Sep 1, 2010 at 5:25 PM, Doug Henwood <dhenwood at panix.com> wrote:
>
> On Sep 1, 2010, at 7:16 PM, Patrick Bond wrote:
>
>> It just made the underlying tendencies to overaccumulation worse, through shifting-stalling-stealing...
>
> Gross world product increased by about 250% between 1980 and 2007. Is that all a sham?

Hmm I wonder. A minor quibble is that some of this was bubble, hallucination. But that is only a quibble. Even subtracting that I don't dispute that GDP increased. Also in spite of increased inequality, the percent of people in absolute poverty decreased. But more substantially a lot of that gain was made at the expense ecological catastrophe. An agricultural metaphor is eating your seed corn. You get some good meals at the cost of starvation next year, I wonder how much growth there was that is both non hallucinatory and also did not involve consuming critical sources and sinks we need to survive in the long run.


>
> Doug
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