We just explored the structural crisis which led to the neoliberal counterrevolution in a recent post. Searching for data from the period I stumbled upon a remarkable articulation of the business consensus to solve the crises of declining profit rates and stagflation. This was outlined in a special edition of Business Week from June, 1980, titled “Reindustrialization of America”. Unfortunately, this was not available online or in print. I had to use the microfilm room for the first time in years. It was strangely satisfying to read a 32-year-old periodical on an even older hand-driven machine. As I cranked through the magazine, my eyes grew wider and wider. This is not what I had expected.
The Birth of Financial Hegemony
The Birth of Financial Hegemony
The Birth of Financial Hegemony
We just explored the structural crisis which led to the neoliberal counterrevolution in a recent post. Searching for data from the period I stumbled upon a remarkable articulation of the business consensus to solve the crises of declining profit rates and stagflation. This was outlined in a special edition of Business Week from June, 1980, titled “Reindustrialization of America”. Unfortunately, this was not available online or in print. I had to use the microfilm room for the first time in years. It was strangely satisfying to read a 32-year-old periodical on an even older hand-driven machine. As I cranked through the magazine, my eyes grew wider and wider. This is not what I had expected.