Re: question folks

A.G. Frank- CRISIS IN THE WORLD ECONOMY and CRISIS IN THE THIRD WORLD
[ New York:Holmes & Meier, London :Heinenmann 1980/81]

and RELECTIONs ON THE ECONOMIC CRISIS [New York:Monthly Review Press,
London:Hutchinson]

and a slew of articles traceable through the bibliography in the AG
Frank Web page


ALL identify 1967 as the year [except mea culpa some 1972 ones said about
1970 before i learned better]

THAT is when the profit rate inflected in the 1967 recessio that hit
Germany hard [for fist time since the War] and others too, exceopt that in
the US it was dampend and ALMOST eliminated by military keynsian spending
on the Vietnam War escalation [ the Us has escalated in EVERY recession
since WWII, 49-50, 53, 58, 61, 67, 69-70, 73-75, 79-82 [the escalation
vcame 6 months BEFORE the Soviet invasion of Afghanistan], 89-92.
Ands of course them 'oil shocks' of 73 and 70 were the EFFECT and not the
cause of the recessions. in 79 the real oil price hike came in october
-months after the jun 79 begin of trhe recession]

Back to 67, 69-70, 73-75, they are al documented and analyzed in my
CRISIS IN THE WORLD ECONOMY  chapter 2 on what happendd and chapter 3 on
what was [not] done about it policy wise.
The profit rate only recovered if/when it did in the late 90s.
the wage rate in the US has still NOT recovered its pre 1973 level.

The 1971  NEW Economic Policy" of Nixon [funny choice of words for him]
which took the dollar off gold, wrecked the Bretton Woods system, and put
a penalty tarriff on Japan were all US policy responses to teh growing
world econ crisis
Ok, I'm out for lunch
gunder frank

On
Sat, 6 May 2000 md7148@cnsvax.albany.edu wrote:

> Date: Sat, 06 May 2000 22:05:39 -0400 (EDT)
> From: md7148@cnsvax.albany.edu
> To: WORLD SYSTEMS NETWORK <wsn@csf.colorado.edu>
> Subject: question folks
> 
> 
> Can somebody exactly trace the origins of the global economic crisis of
> the 1970s? i don't mean the oil crisis (73-74).I mean the dollar crash
> (financial crisis) that involved speculative bubbles and panics. Whatever
> I have read so far (Gourevitch, Wolfson, Kindleberger, Arrighi) does not
> state a clear year. Economic historians always speak in broader terms. I
> am a history maniac person, and I need to figure out this. Wolsfon talks
> about the 1970 bankruptcy of the Penn Central Railroad as well as the
> failure of Franklin National in 1974 in his study of the post-war US
> experience. Do these correspond to the global economic crisis of the
> 1970s? I think these collapses are the domestic consequences of
> international crisis. what is the exact year for this (world financial
> crisis)? 1971?
> 
> Please, help!
> 
> best wishes,
> 
> Mine Doyran
> Phd Student
> Political Science
> SUNY/Albany
> 
> 
> 


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
                     ANDRE GUNDER FRANK
          Visiting Professor  of  International Relations       
University of Miami           &         Florida International University  

380 Giralda Ave. Apt 704                Tel: 1-305-648 1906
Miami - Coral Gables FL                 Fax: 1-305-648 0149
USA  33134                              e-mail:agfrank@chass.utoronto.ca 

Personal/Professional Home Page> http://csf.colorado.edu/archive/agfrank/

My NATO/Kosovo Page> http://csf.colorado.edu/archive/agfrank/nato_kosovo/   
    

My professional/personal conclusion is the same as Pogo's - 
            We have met the enemy, and it is US 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~