I thought Greider's book to be quite well-written but highly repetitive. The real question is whether his argument about global overcapacity is correct--his example of auto industry having the capacity to make 70 million vehicles but only sell 47 million of them is the most solid thing he has on this. I've been looking at the reviews of this, Thurow says 1)it's inconsistent for Greider to hold both over-capacity thesis and thesis that the Feds and rentiers are dragging down the economy. [I really don't see the inconsistency myself--Greider's point is the tight money holds down the consumer demand which helps create the overcapacity]; and 2)if there is really over-capacity the rich will simply consume more and invest less until the balance is corrected. [again, that seems to me a dubious criticism]. Krugman has weighed in in typical style with an outright dismissal of the book with his usual trade-doesn't-matter/journalists-are-idiots line. By the way, re China, I understood Greider also to be saying that we can expect China in the next century to drain tons of corporate investment away from Europe and US and thereby provide the knock-out blow to manufacturing in those countries--even if the Boeings and other corps do fine on their ledgers. Any more comments on the overcapacity question or the book and its critics welcome. Personally I'd be very happy if a lot of people read the book. Thad At 06:11 PM 7/14/97 -0700, Michael Perelman wrote: >rakesh bhandari wrote: >> >> I would like to submit for analysis this passage by Joesph Kahn from >> today's WSJ "China's Overcapacity Crimps Neighbors:Glut Swamps Southeast >> Asia's Exports, Roiling Currencies" (A10): > >This is one of the main thesis of Greider, William. 1997. One World, >Ready or Not: The Manic Logic of Global Capitalism (NY: Simon & >Schuster). > >By the way, I find some good stuff in Greider's book, but he seems to be >so long winded and disorganized [this book to a lesser extent] that I >find it hard to maintain my attention. Do others have a similar opinion >of his work? > >-- >Michael Perelman >Economics Department >California State University >Chico, CA 95929 > >Tel. 916-898-5321 >E-Mail [EMAIL PROTECTED] > > Thad Williamson National Center for Economic and Security Alternatives (Washington)/ Union Theological Seminary (New York) 212-531-1935 http://www.northcarolina.com/thad
