G'day again,
For those of you who missed Wynne Godley's latest; it's compellingly
summarised here. For those of you interested in comparisons between
Australia's 'boom' and America's; here 'tis. For those of you who have a
view about how legal across-the board import duties would be under WTO
Tom wrote:
What if we push the preceding argument "Beyond Capital" (so to speak) to
consider the depreciation of wage labour on more or less the same basis?
Somewhere in vol. III of Capital (I haven't been able to track down the
location), Marx criticized those vulgar political economists who
Michael Perelman wrote:
I tried to tell the story of the Great Depression of the late 19th century
in my
book, End of Economics. Not only did the Depression occur in the way Jim
cited
Doug Dowd, but most of the leading economists of the time in the United States
explicitly recognized that
Jim Devine wrote:
Tom wrote:
Somewhere in vol. III of Capital (I haven't been able to track down the
location), Marx criticized those vulgar political economists who become so
enamored of the idea of interest-bearing capital that they even proclaim
wages as a form of interest on the labourer's
Tom writes:
Although the "total working day" may be hard to quantify, it has
qualitative limits, depending upon definite technical, historical and
physiological factors. At some unspecifiable (and malleable) point,
increasing the length of the working day won't do any more good because
Doug Dowd's birthday is later this week, December 7th. He's still turning out
books as fast as I turn out e-mails.
Gene Coyle
Jim Devine wrote:
[was: Re: [PEN-L:5527] Re: Re: Re: Re: Re: Re: the downturn]
Carrol asked:
In the history of industrial capitalism, how many "great depressions"
Jim Devine wrote:
Some might say that the period from 1973 to 1992 or so in the US was a
"great depression" of sorts. I don't find this very useful, either. If
people want to call it a great depression, that's fine with me, but since
the three "depressions" were so different from each other,
I tried to tell the story of the Great Depression of the late 19th century in my
book, End of Economics. Not only did the Depression occur in the way Jim cited Doug
Dowd, but most of the leading economists of the time in the United States explicitly
recognized that reality.
Tom Walker wrote:
