This view is not that different from the Marxian view that crises purge the economy of imbalances (fixed capital, etc.) so that accumulation can re-start.
> "Remember, the recession isn't all bad: Unsupportable debts are being > erased. Consumers are rebuilding their savings and lowering their living > standards to match reality. Workers are exiting dying industries. And > through distress sales, foreclosures, and bankruptcies, assets are being > taken away from weak hands and given to strong ones, creating the conditions > for future growth." > --Peter Coy, "Is the Jobs Panic Justified?", Business Week, Dec. 22, 2008 > > Teachers might want to parse almost every phrase of this remark in class. > Charles Andrews -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
