Word: capitalisme
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MARGLIN didn't start questioning his economics or his liberalism until 1965, when he returned to Harvard and began teaching graduate seminars. Like many of his students, he was horrified by the Vietnam War and slowly moved farther to the Left. But he was also shocked when those same students...
Marglin followed the lead of Weisskopf. Bowles, Gintis, and MacEwan--non-tenured economists who abandoned the mainstream in the late '60s, and began developing a radical perspective on capitalism. In 1970, he offered a course with Gintis. "Alternatives to Neoclassical Theory." "I shudder when I think of the primitive nature...
THE difference remains that mainstream economists--as demonstrated in the April debate when Otto Fekstein bluntly asserted. "I believe in capitalism"--are still committed to the system: It's not that they are unable to reconcile their politics with their work, as was the radicalized Marglin in the late '60s...
But Marglin feels the best aspect of the debate was that "a lot of people were exposed for the first time to the idea that there were alternative ways of looking at American capitalism that are worthy of consideration.
To a large extent, political stability in Portugal will depend on the government's skill in solving the country's economic problems. Unemployment has been aggravated by the return of thousands of troops from the former Portuguese colonies in Africa, and another dismal tourist season like last year...