[Marxism] Fwd: The global crawl and taking up the challenge of prediction | Michael Roberts Blog

Louis Proyect lnp3 at panix.com
Sat Apr 18 06:25:29 MDT 2015


Readers of this blog will know that from its very beginning over five 
years ago, I have argued, ad nauseam, that after the end of the Great 
Recession in mid-2009, the world capitalist economy entered what I have 
called a long depression, see
https://thenextrecession.wordpress.com/2013/02/10/why-is-there-a-long-depression/.

What I meant by this was that the trajectory of the world real GDP 
growth and investment took what I described as a square-root shape. A 
relatively high trend growth rate was interrupted by a sharp drop, then 
a sharpish recovery before growth resumed but this time at a much lower 
level than before.

Schematically, it would look like this – and in reality.

full: 
https://thenextrecession.wordpress.com/2015/04/18/the-global-crawl-and-taking-up-the-challenge-of-prediction/



More information about the Marxism mailing list