other methodological gaps Devine's talk!!!
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Fri Dec 28 10:27:12 MST 2001
Jim Devine says in his talk:
"The big drawback is that the data are not for the entire world, in an era
when capitalism is operating more and more on a world scale. So we need to
remember that our focus is on only the United States."
This is certainly not true. Devine is avoiding an analysis of global
capitalist crisis, restricting his discussion to US economy only. Since
Devine is already using the US government figures for the falling rate of
profit, there is absolutely no reason that he can not use international
organization's data for the entire world (or even some US department data as
a matter of fact). Such figures should be available at Fed, IMF, World Bank,
IFC, etc. After all, what we are really facing at the moment is a (semi)
peripheral crisis that are taking place in places like Argentina, Turkey,
Tanzania, etc.. So why to limit the discussion to US economy only, as if the
crisis is *internal* to us???. This talk is another example of pen-l
economists' blindness to world system issues.
To my knowledge, world system people and classical Marxists ( Mandel in
_Second Slump_) have done studies of falling rate of profit in the rest of
the world since the late 1960s. Devine should have benefited from those
studies to make his talk more *interesting*. There is nothing *unsaid* here.
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