Re: FW: urgent question (and more)

> >Soros may correctly judge that the limits to those capital flows have >been
> >reached for a time.  Which is why he supposes things must get worse >before
> >they get better, i.e. there must be more deflationary chaos in the (semi)
> >periphery so core capital can go back to purchase (invest) at lower >prices.

Elson, where does Soros imply this? which part of his book? I assume you are
talking about _The crisis of Global Capitalim: Open Society Engendered_?

mercissss..

Mine

>
> If so, he seems to suggest that de-industrialization and the programs of its
> promotion, are nearing the apex of their maximum effect (at least in the
> short to run of 5-10 years).  And it may be that we are in a classic 5-year
> downturn at the end of this process with recovery coming in, say, 2004.  If
> Wallerstein is accurate, the following recovery would mark the start of a
> 25-30 year upswing not seen since the 1945-70 period.
>
> Elson E. Boles
> Assistant Professor, Historical Sociology
> University of Science and Arts of Oklahoma
> 2108 S. 19th St.
> Chickasha, OK 73018
>
> -----Original Message-----
> From: wsn-owner@csf.colorado.edu [mailto:wsn-owner@csf.colorado.edu]On
> Behalf Of Mine Aysen Doyran
> Sent: Friday, January 05, 2001 9:17 AM
> To: wsn@csf.colorado.edu; ipe@csf.colorado.edu
> Subject: urgent question
>
> hi folks,
> I am reading Tom Kemp's _The Climax of  Capitalism: The US Economy in the
> 20th century_. He says that one of the major causes of the world economic
> crisis in the 1970s was inflationary pressures on dollar. Then he continues
> by saying that "although  bearing a family resemblance of previous
> recessions , that of 1974-5, differed  from them in one salient aspect:
> there was no deflation; instead the dollar continued to lose purchasing
> power and prices continued to rise. the clearing of ground for recovery by a
> downward revaluation of assets and the lowering of costs, thus restoring the
> profitability of capital, did not happen in the classical manner. What did
> happen from about this time was that plants  that proved unprofitable in the
> recession did not re-open in the boom:de-insdustrialization had begun. In
> response to the declining rate of profit at home, corporations sought higher
> profits by transferring manufacturing facilities to low wage countries".
> (p.184).
> What the cause of  _asian crisis_ compared to above scenario? inflation or
> deflation problem?
>    a ny help greatly appreciated!!!
>   bye
>   Mine
>   Mine Aysen Doyran
> PhD Student
> Department of Political Science
> SUNY at Albany
> Nelson A. Rockefeller College
> 135 Western Ave.; Milne 102
> Albany, NY 12222
>   Shop Safely Online Without a Credit Card http://www.rocketcash.com

--

Mine Aysen Doyran
PhD Student
Department of Political Science
SUNY at Albany
Nelson A. Rockefeller College
135 Western Ave.; Milne 102
Albany, NY 12222



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