Andrew Kliman on “Causes and Implications of the Economic Crisis”
Wednesday 8 July
Lucas Arms (upstairs room)
245a Grays Inn Road
St Pancras, London (Kings Cross tube)
8 to 10 pm.
2 Comments on “Public Meeting, July 8 in London: Andrew Kliman on ‘Causes and Implications of the Economic Crisis'”
- 1Stéphane said at 9:17 am on June 28th, 2009:French announcement at http://bataillesocialiste.wordpress.com/2009/06/28/les-causes-et-les-consequences-de-la-crise-economique/
- 2Mihaly said at 12:09 pm on July 1st, 2009:A question for Andrew Kliman.
In your article “The destruction of capital…” you claim that until capital is destroyed to a sufficient extent, there can be no recovery in profitability, and thus no sustained recovery in terms of general economic growth.
Do you think that what has happened so far represents a “sufficient” destruction of capital, or is it way too little to restore profitabilty?
A lot of paper wealth has been wiped out (there are various estimates), and a lot of capital assets in the auto industry (and other industries as well) are being devalued, right? The collapse of housing prices is also (or can be) a sort of devaluation of constant capital.
Is that enough, in your opinion?