[lbo-talk] Austerity In The Face Of Weakness

[dredmond at efn.org]

On Mon, September 6, 2010 5:28 pm, Patrick Bond wrote:


> bubbling. Do you not agree that the decline in the rate of real world GDP
> growth from the 1960s (3.6% per capita GDP increase per annum) to the
> 1970s (2.1%) to the 1980s (1.3%) to the 1990s (1.1%) to
> the 2000s (also around 1.1%) would be of interest?

I never argued that neoliberalism boosted growth. It didn't -- it crushed
productive investment and spawned disastrous credit bubbles, here in the
US and elsewhere.

But the post-1998, post-neoliberal renascence of the BRICs and their 7%
per capita annual growth rates are quite real, and based on economic
fundamentals, not speculation.

-- DRR