- Capitalism and Alternatives -
Posted by: Red Deathy ( Socialist Party, UK ) on August 27, 1999 at 18:03:36:
In Reply to: Causality posted by Gee on August 27, 1999 at 16:45:23:
: The evaluation given in the 1837 link does provide some evidence of government causality along with other factors. the major point was that private ownership and free trade was nopt 'at fault' here.
Couple of point;
1:America was largely a colonial economy, i.e. it was highly dependant on sales in Yurp (England, as teh largest economy), I know England had amore or less decenial trade cycle in the nineenth century, and also that it had a crisis in 1848, as did most of Europe. I wonder if 1837 could have been caused by the same ten years earlier? Hmmm.
2:Britain in the nineteenth century had a number of money crisis ('48 again, IIRC), wherein the issue of bank notes was fubarred by the Government, but its worth noting that it wasn't the banks that caused it (they IIRC had a speerate department controlling money issue, and another for loans and interest, couldn't co-ordinate) what happened was that when crisis struck in the real economy, they weren't able to manage it, or respond appropriately, thus eacrerbating a real economy crisis.
3:In that Link Government ownership was minor, and can't be accredited with teh slow down in teh wider economy.
- in context Gee si August 27 1999
- Uh-huh. Red Deathy Socialist Party UK August 28 1999