Jim Devine wrote,

>When the crisis actually comes -- which becomes more
>likely as imbalances worsen -- the accumulated debt encourages bankruptcies
>and waves of bankruptcies and represents a barrier to continued
>accumulation. (A barrier, I might add, that is eventually purged by the
>recession and stagnation periods.)

Jim: can/do you elaborate on this in terms of the non-synchronous
development of the forces of production and the relations of production?


Regards, 

Tom Walker
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