So far, we have agreed on the role of credit and the transfer of power
to capital. I would add the expansion of capital made possible by the
opening of China, E. Europe and the like. In addition, the
financialization of business has added to profits, as well as the
likelihood of a future collapse.
I think that if we get a better handle on what went right [Of course, I
meant from the perspective of capital], we can be better prepared to see
what will go wrong.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 916-898-5321
E-Mail [EMAIL PROTECTED]
