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[in the second half of the year, due to the housing market, bank lending, and job growth all being poor, Roubini expects 1.5% GDP growth.] Read more: http://www.businessinsider.com/roubini-double-dip-2010-7#ixzz0upcMIAh7 [3% is, according to Roubini and the conventional wisdom, the growth threshold for a "healthy" economy; less than 3% is sluggish, with a tendency to a negative feedback effect on jobs, inventory, plant and equipment utilization; below 1% is crisis, with many capitalists showing no profit at all. Growth from 1945-1973 was about 5%. Throughout the history of capitalism the compound rate has been around 2.25%, while in the 1930s it was negative. According to David Harvey in his The Enigma of Capital.] ________________________________________________ Send list submissions to: [email protected] Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
