> maxsaw wrote:
>
> > In the early 1970's, productivity growth dropped
> > in the U.S., well before most of the talk of
> > globalization. This trend can explain much of
> > subsequent U.S. political economy without need
> > for reference to globalization or
> > universalization of the market: the need to
> > reduce wage growth, attack unions, cut public
> > spending, etc.
>
> The better answer is that the previous period was exceptional. I suspect that
> the reason includes the spin offs from the intensive scientific efforts
> associated with WW II.
Either way the implied emphasis on the idea of a
sharp shift in globalization or capital mobility
around 1980 is reduced.
MBS
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