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Capitalism Hits the Fan

Posted November 12th, 2008 by Dave Culver

The current crisis did not start with finance, and it won't end with finance.

Rick Wolff, Dollars & Sense

Let me begin by saying what I think this crisis is not. It is not a financial crisis. It is a systemic crisis whose first serious symptom happened to be finance. But this crisis has its economic roots and its effects in manufacturing, services, and, to be sure, finance. It grows out of the relation of wages to profits across the economy. It has profound social roots in America’s households and families and political roots in government policies. The current crisis did not start with finance, and it won’t end with finance.

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