[lbo-talk] Austerity In The Face Of Weakness

Doug Henwood dhenwood at panix.com
Thu Sep 2 05:43:26 PDT 2010


On Sep 2, 2010, at 12:25 AM, Gar Lipow wrote:


> 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.

Yes, of course, I don't disagree. My only point was to reject Patrick's implication that a 250% increase in GDP is some sort of confidence trick.

Doug



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