"Excessive
preoccupation with finance and tolerance of debt are apparently typical
of great economic powers in their late stages. They foreshadow economic
decline."
- From Kevin Phillips in Boiling Point: Republicans, Democrats, and the Decline of Middle-class Prosperity (1993), quoted by Giovanni Arrighi.
Tuesday, January 18, 2022
"preoccupation" with finance, "tolerance" of debt
Subscribe to:
Post Comments (Atom)
-
I've been hearing the phrase "late capitalism" for so long that I'm forced to conclude that the very concept of late cap...
-
It is surely true that the price level cannot rise without a corresponding increase in the quantity of money or velocity or use of credit. ...
-
As I write this it is mid-October in an even-numbered year. Elections are weeks away. Yesterday, I saw Republican candidates heavily adver...
-
Went to Harbor Freight the other day. When I left, there was so much traffic I had to fight my way out of the parking lot -- at one p.m. on ... -
I'm not a fan of "diagrams" in economics, but sometimes... This is a screen capture of slide 36 from a SlideShare presentatio...
No comments:
Post a Comment