Wallerstein ile kriz ve depresyon üstüne

27 Oct

Tarihin en hareketli dönemlerinden birinden geçerken keskin gözlemleri ve analizleri ile tanıntan Prof. Immanuel Wallerstein’a bağlanıyoruz:

The Depression: A Long-Term View
by Immanuel Wallerstein

The depression has started. Journalists are still coyly enquiring of economists whether or not we may be entering a mere recession. Don’t believe it for a minute. We are already at the beginning of a full-blown worldwide depression with extensive unemployment almost everywhere. It may take the form of a classic nominal deflation, with all its negative consequences for ordinary people. Or it might take the form, a bit less likely, of a runaway inflation, which is simply another way in which values deflate, and which is even worse for ordinary people.

Of course everyone is asking what has triggered this depression. Is it the derivatives, which Warren Buffett called “financial weapons of mass destruction”? Or is it the subprime mortgages? Or is it oil speculators? This is a blame game, and of no real importance. This is to concentrate on the dust, as Fernand Braudel called it, of short-term events. If we want to understand what is going on, we need to look at two other temporalities, which are far more revealing. One is that of medium-term cyclical swings. And one is that of the long-term structural trends.


1 Comment

Posted by on October 27, 2008 in business, General, Management


One response to “Wallerstein ile kriz ve depresyon üstüne

  1. Murat

    November 2, 2008 at 00:44

    Problem is lack of capitalism, not regulation, trickle-down economics, etc. See


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