I agree with you: this crisis started with a collapse in demand due to lockdown etc. VG
Inviato da iPhone > Il giorno 13 dic 2020, alle ore 16:00, John Reimann <[email protected]> > ha scritto: > > > I have some questions about the analysis of Marxist economist Michael > Roberts, and I would be interested in the thoughts of others. Roberts writes: > "But the ensuing slump in world production, trade, investment and employment > did not start with a financial or stock market crash, which then led to a > collapse in investment, production and employment. It was the opposite. > There was a collapse in production and trade, forced or imposed by pandemic > lockdowns, which then led to a huge fall in incomes, spending and trade. So > the slump kicked off with an ‘exogenous shock’, then the lockdowns led to a > ‘supply shock’ and then a ‘demand shock’." > I have trouble with this. At least here in the US, it seems to me that it did > start exactly with a "demand shock", not a collapse in production. > Roberts' article: > https://thenextrecession.wordpress.com/2020/12/02/a-credit-crash-ahead/ > > -- > “Science and socialism go hand-in-hand.” Felicity Dowling > Check out:https:http://oaklandsocialist.com also on Facebook > -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#4412): https://groups.io/g/marxmail/message/4412 Mute This Topic: https://groups.io/mt/78928153/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
