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At the time of this writing (late August), the business news in the United States is full of discussions of “recovery” from the worst economic crisis since the Great Depression. Yet, while the economy appears to have bottomed out and a recovery of sorts may be in the works, this is in many ways misleading. Although a technical or formal recovery seems quite likely by the end of the year — with a small increase in economic growth mainly due to inventory restocking — it is unlikely to feel like a recovery to most individuals in the society. This is because official unemployment is projected to rise to the low double-digits by the end of this year or the beginning of next year — with the numbers of those dropping out of the labor market due to discouragement, or seeking part-time work because they are unable to obtain a full-time job, also growing. All of this points to a “jobless” and “wageless” recovery. As New York University economist Nouriel Roubini wrote in an August 13 column for Forbes.com, “It is very difficult to argue that the U.S. economy is not still in a recession while the labor market is still weak.” Indeed, what is really at issue is not simply recession and recovery but the longer-term structural crisis of capitalism. This is the subject of the Review of the Month, which seeks to place the current crisis in the context of the long-term development of capital accumulation and crisis.
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ding dong the 'ag-op class a misdemeanor' is dead! cldc comin atcha!
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oh my.
Quoted: Swedes have mixed reactions after hearing reports of rabbits being used to produce renewable heat.
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emissions from the manufacturing process make up probably at least 1/3 of the total emissions from the use of a car.
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such a great column. heads up if you've never read it.
Quoted: Fred Pearce exposes the exaggeration, absurd claims or downright lies that big business makes about its green credentials. Email your examples of greenwash: greenwash@guardian.co.uk
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"You've almost certainly bought a product made from illegally harvested wood."
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Quoted: Get Portland & Oregon latest news. Find photos and videos, comment on the news, and join the forum discussions at OregonLive.com
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Quoted: It's a showdown among environmentalists out West, where proposed solar-energy plants threaten the desert ecosystem.
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