Aspects of the World Capitalist Economy in the 1980s

Aspects of the World Capitalist Economy in the 1980s Prabhat Patnaik Economic booms, characterised by rapid capital accumulation and a plethora of new processes and new products, are founded on crises, which periodically purge the economy of obsolescence. Artificially arresting the crises, through budgetary deficits, as is being done today in the US, can only lead to the 'crisis of postponed crisis'. The capitalist world may well attempt solutions to its current crisis which augur ill for the third world.