[lbo-talk] Austerity In The Face Of Weakness

Mike Beggs mikejbeggs at gmail.com
Thu Sep 2 18:18:52 PDT 2010


On Thu, Sep 2, 2010 at 7:50 AM, Patrick Bond <pbond at mail.ngo.za> wrote:


> Some, like yourself and a
> couple of wonderful Toronto comrades, seem to think that the recent crisis
> had nothing to do with the 1970s crisis, because that crisis was 'resolved'
> - through higher profits drawn from higher rates of exploitation.

I thought that was who you were talking about. But Panitch and Gindin's arguments of the 2000s stand up a lot better than those of most people who 'predicted the crisis', especially people who 'predicted it' for the wrong reasons. Arguing against an obsession with crisis and stagnation is not the same as denying the possibility or even inevitability of downturns. And it's still good advice.

Mike Beggs



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