- Re: Prof. Richard Wolff: The Economics of the Ukraine War Archived Message
- European antiwar protests gain strength as NATO’s Ukraine proxy war escalates - Tomski February 27, 2023, 11:21 pm
- Prof. Richard Wolff: The Economics of the Ukraine War - Morrissey February 28, 2023, 4:48 am
Posted by Tomski
on February 28, 2023, 10:45 am, in reply to "Prof. Richard Wolff: The Economics of the Ukraine War"
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I don't pretend to fully understand economics, but in this case I was surprised that Wolff has concentrated on GDP since even the 'inventor' of GDP (Simon Kuznets) has criticised how economists/govts etc are misusing this concept. The alternative concept being GDP per capita at purchasing power parity (PPP). What I am getting at is that Wolff has made an equation that the 'golden billion' is basically dwarfed by ROW in terms of GDP and that is why RF has prevailed and at the same time RF has relied on this in terms of alliances. It doesn't ring true. RF has prevailed because of the abundance of raw materials and the alliances (apart from China) came later. Wolff talked about militancy of the working class is on the rise - it's not that clear to me that this is the case .. yet. Also, left and right coming together - we talked about this on TLN. First time I have been suspicious of what Wolff is saying, since he is my hero alongside with Hudson, but there you have it : ). |
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