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A Modest Proposal

the report of the inquiry must be submitted for public discussion before an order is promulgated. And today especially after the Supreme Court judgment on the ACCENTUATE the Positive, Eliminate the Negative, and Don't Mess with Mr In- between. The New International Economic Order the third world clamoured for in the 1970s has proven to be a chimerical snare and delusion. So why not be practical visionaries and return to some tried and proven ways of the Old International Economic Order, which worked since this American song was popular at the end of World War II. It had shortcomings, but many less than the (dis)order of the 1980s so far. If the Black Monday October 19, 1987 stock market crash is a milestone signpost to the brink, a bold step backward to the known in time could save nine in the abyss of total confusion worse confounded.

Crash Course

Crash Course Andre Gunder Frank After Black Monday, October 19, it was observed that the stock market crash was the alarm, not the fire and the question was posed whether the events in the financial sector could be prevented from spreading to the real economy of jobs, income and production. Such speculation, however, betrays a serious lack of historical perspective. The present world economic crisis in fact began in the real economy with the decline in the rate of profit in the mid-1960s and the recessions of 1967 and 1969-70. The fifth recession in the development of this economic crisis since 1967 was approaching anyway in the natural course of events. Black Monday was one possible response to this development and it is now likely to accelerate and aggravate it still further.

Debt Where Credit Is Due

Andre Gunder Frank The reparations transfer out of Germany after its First World War defeat reached a maximum of perhaps 3.5 per cent of GNP and 15 per cent of export earnings in the darkest years of 1929-31. In his "The Economic Consequences of the Peace", Keynes warned that this drain would be unsustainable for Germany and counterproductive for the world. He was proven right by the resultant rise of Hitler Yet many Third World countries are today being drained at 5 and 6 per cent of their GNP and 30 to 50 per cent and more of their export earnings annually through the resource transfer of their debt service. And despite this enormous hemorrhage of the Third World, most proposals to deal with the Third World debt crisis propose to further increase the debt now and debt service later even more.

Nine Theses on Social Movements

Andre Gunder Frank Marta Fuentes The 'new social movements' today are what most mobilise people in pursuit of common concerns. Far more than 'classical' class movements, the social movements motivate and mobilise hundreds of millions of people in all parts of the world

Is the Reagan Recovery Real or the Calm before the Storm

before the Storm? Andre Gunder Frank The international economic recovery since 1983 has been widely acclaimed as having overcome the economic problems of the previous decade through renewed growth. This claim rests on shaky foundations. In the US the recovery has been weakly sustained by consumer spending and debt finance; and internationally the spread of the recession has been slow and uneven which has exacerbated international economic imbalances and threatens the stability of the world economy in the next recession.

World Economic Crisis and Third World-in Mid-1980s

World Economic Crisis and Third World in Mid-1980s Andre Gunder Frank The Americans are playing financial poker with the West Europeans and the Japanese, as well as with the Brizilians, the Nigerians and everybody else. As long as the international economic system continues to work, the American banks and American economy are continuing to benefit. So it is rational for them, in the short run, the bluff as much as possible against their opponents and partners as long as the Americans have, or think they have, the financial ace that, at the moment, there is no alternative to the US dollar in the world economy. The Americans are, therefore, most reluctant to come to any alternative arrangement of the world financial system, while the Europeans and others are much more willing to do so, and some indeed are asking for a new arrangement.

Unemployment and World Crisis of Economic Policy

Unemployment and World Crisis of Economic Policy Andre Gunder Frank The present recession is the fourth in a world economic crisis that may be said to have begun in 1967. The succession of recessions, the advance of inflation, and the doubling of unemployment in the West between the 1967 and the 1973-75 recessions and its doubling again from the latter recession to the present one, as well as restructuring of the world economy, arising from differential declines in productivity and consequent shifts in the political-economic balance of power in the West, have posed insurmountable, and still growing, obstacles to the effectiveness of formulation and implementation of political-economic policy at both the national and the international levels.

Development of Crisis and Crisis of-Development-Living in the Real World

Development Living in the Real World Andre Gunder Frank Are we living in many different societies and going through various crises simultaneously, or are we really living in a single world that is going through only one crisis, albeit with different manifestations?

New International Division of Labour

New International Division of Labour? Andre Gunder Frank The New International Division of Labour; Structural Unemployment in Industrialised Countries and Industrialisation in Developing Countries; ("Die Neue Internationale Arbeitsteilung

Emergence of Permanent Emergency in India

Emergence of Permanent Emergency in India Andre Gunder Frank This paper argues that the most important causes and consequences of 'Emergency Rule' in India should be sought and can be found in the depending accumulation crisis in Indian industry (and in the capitalist world generally) since the mid-1960s and in the measures taken by Indian (and foreign) capital to confront this crisis.

Long Live Transideological Enterprise-Socialist Economies in Capitalist International Division of Labour

Socialist Economies in Capitalist International Division of Labour Andre Gunder Frank This article, which is part of a hook on the international division of labour, argues that the leadership of the socialist world has a deeply rooted tradition of trade and economic relation with the capitalist world. Following this, it is but natural that the socialist world should, consider the survival and continued prosperity of capitalism as essential for its own survival. Such has been the worldview of the leadership of the socialist world, at least since the early 1920s. The ultimate aim of the socialist world is to integrate its own 'socialist' economy into a world capitalist economy. This process has been going on in one form or another in all socialist countries, though it has been most conspicuous in the Soviet Union and other East European countries.

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