On 2012-11-21, at 8:14 AM, Michael Nuwer wrote: > ...Krugman seems to imply that a return to higher taxes and > higher wages would be compatible with a return to economic prosperity. > He is generally unwilling to explore the argument that prosperity in > 1950s and 1960s owes itself to the hegemonic power of the United States, > and so made higher taxes and higher wages possible. I'm not sure that > that possibility exists today, which leaves Krugman's argument a bit > hollow.
Much hope and capital has been invested in shale oil and gas, seen as the new technological advance which will revive US manufacturing and restore its economic hegemony. Others, not only on the left, are skeptical it will have much impact other than an adverse environmental one. http://www.nytimes.com/2012/11/13/business/energy-environment/report-sees-us-as-top-oil-producer-in-5-years.html?_r=0&adxnnl=1&partner=rss&emc=rss&adxnnlx=1353538840-Nj2tiMzcRgRzsOnH7kGnpw http://www.guardian.co.uk/environment/2012/nov/15/shale-gas-freedom-security-trap?intcmp=239 http://online.wsj.com/article/SB10000872396390444549204578020602281237088.html?mod=rss_markets_main http://www.nakedcapitalism.com/2012/11/shale-gas-will-be-the-next-bubble-to-pop.html _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
