Re: Global Financial Crisis II

1997-11-29 Thread Rosenberg, Bill
"One man deserves the credit, One man deserves the fame, And Nicolai Ivanovich Chossudovsky is his name! (Hey!)" (First one to trace this gets a free drink at my expense at the AEA meetings.) Sawicky parody on Tom Lehrer, parody on Danny Kaye/Sylivia Fine ("Stanislavsky").

Re: Global Financial Crisis II

1997-11-29 Thread Patrick Bond
Rosenberg, Bill wrote: Mind you, despite all this, Michel Chossudovsky has written some outstanding analyses - I can think of a couple on Africa and Yugoslavia. So I'm not conceding that Choss is a Lobachevsky by any means (unless it was the real Lobachevsky). Hear hear. In a land of 30%

Re: Global Financial Crisis II

1997-11-29 Thread Louis Proyect
Doug Henwood: What does it mean to say that capitalism is in "ok shape"? It means that a polarizing system of exploitation is reproducing itself pretty successfully. The creation of poverty alongside of wealth is an ancient feature of this charming economic form. I didn't think I had to make

Re: Global Financial Crisis II

1997-11-29 Thread Doug Henwood
Patrick Bond wrote: The socio-political fallout of some yuppie NY banker's flick of a finger on the keyboard can be terrifying. In SA, a 25% currency crash during a six-week period in 1996 compelled the ANC leadership to formally junk its soc-dem development programme and replace it with a

Global Financial Crisis II

1997-11-28 Thread PHILLPS
In response to the exchange between Tom, Doug and Max, there is recent evidence from Canada that they are both right. Yesterday the Canadian Council on Welfare issued its report on child poverty in Canada in which my home province, Manitoba, was third on the list after New Brunswick and

Re: Global Financial Crisis II

1997-11-28 Thread maxsaw
Quoth Valis: Quoth Tom re Max: The disruption and the socialization of the losses are not random processes. Life goes on more or less for some people and just less for others. While Chossudovsky may have been hyperventilating, Max's and Doug's sanguine comments about the "low rate

Re: Global Financial Crisis II

1997-11-28 Thread maxsaw
And another thing. Are you saying that _I_ sympathize with Chossudovsky's politics or excuse failures in logic and careless use of data? Or are you just setting up a bogus dichotomy as a platform to pontificate from? I simply was pointing out that Doug and Max were citing low unemployment

Re: Global Financial Crisis II

1997-11-28 Thread Tom Walker
Doug Henwood wrote, Are you waxing deconstructive here, Tom? Being anti-apocalyptic requies an (unacknowledge) dependency on the notion of apocalypse? If so, what is the unnarativizable other? The answer to the first question is, "yes". As for the second, I wouldn't say that the dependency is

Re: Global Financial Crisis II

1997-11-28 Thread Tom Walker
Max Sawicky wrote, Henceforth, the names of Walker and Chossudovsky will be forever intertwined, their ethnic contrast notwithstanding, though there may be some truth to the rumor that Chossudovsky's real name was Lodge and he changed it to make it as a radical economist. By the same

Re: Global Financial Crisis II

1997-11-28 Thread Doug Henwood
Tom Walker wrote: I will say, however, that pooh-poohing the apocalypse can be as much of a pose as apocalypticism itself. It might even be interesting to ask whether apocalyptic pooh-poohing isn't itself just a variation on the theme of apocalypse. In other words, Sawicky's rhetorical labelling

Re: Global Financial Crisis II

1997-11-28 Thread Ellen Dannin [EMAIL PROTECTED]
On Fri, 28 Nov 1997, Doug Henwood wrote: It's magic: lower incomes + higher labour force participation = a lower rate of unemployment. This precisely confirms the right-wing nostrum that there is no such thing as involuntary unemployment. At a low enough wage, there is a job for everyone who

Re: Global Financial Crisis II

1997-11-28 Thread Doug Henwood
Tom Walker wrote: There's nothing fishy about the *numbers* -- they measure what they're intended to measure. There is something fishy about the *relevance* of those numbers in terms of the lives of working people. A family in which one adult is working full time and earning enough to support

Re: Global Financial Crisis II

1997-11-27 Thread valis
Quoth Tom re Max: If the bubble breaks, there is some disruption and often some socialization of the losses, but life more or less goes on. Where's the apocalypse? The disruption and the socialization of the losses are not random processes. Life goes on more or less for some people

Re: Global Financial Crisis II

1997-11-27 Thread Tom Walker
Colin Danby wrote, No, increased labor force participation by itself will raise the unemployment rate not lower it. Look up the definition of unemployment. Colin, I'm not impressed with this facile hair splitting. Why don't _you_ go look up the definition of solipsism. You might have

Re: Global Financial Crisis II

1997-11-27 Thread Colin Danby
Tom W on Doug: A family in which two adults have to be working full time to earn a similar level of income contributes twice as many participants to the labour force and thus "improves" the employment picture. It's magic: lower incomes + higher labour force participation = a lower rate of

Re: Global Financial Crisis II

1997-11-27 Thread Tom Walker
Doug Henwood wrote, I know it's sometimes thrilling to mount a moral high horse and declaim, but I was responding specifically to the assertions in the original histrionic document that there was something fishy about U.S. employment numbers. There's nothing fishy about the *numbers* -- they

Re: Global Financial Crisis II

1997-11-27 Thread Doug Henwood
valis wrote: Quoth Tom re Max: If the bubble breaks, there is some disruption and often some socialization of the losses, but life more or less goes on. Where's the apocalypse? The disruption and the socialization of the losses are not random processes. Life goes on more or less for