This is interesting: http://baselinescenario.com/2009/04/27/larry-summers-new-model/
Especially this: "Growth in the 1990s and more recently was based too much on finance (this appears to be a relatively new thought for Summers). The high and rising share of finance in corporate profits “should have been a warning”. The next expansion should be based less on asset bubbles and more on investment in key public services. The financial regulatory system “in fundamental respects has been a failure”. There have been too many serious crises in the past 20 years . . . " -- Larry Summers, three days ago. Re: Johnson's argument, I conclude structural adjustment is how the head gorilla keeps the others fetching its bananas. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
