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I have read a fair amount of 19th century British economic and social theory.  Although many Victorian arguments have been dusted off to justify 21st century neoliberalism and the Washington Consensus, this tradition does not explain the particular combination of asset inflation, debt economy, the shift of risk sharing and labor arbitrage.  Perhaps it is merely what you do if you want to split off the value going to the Middle Class while still presenting the impression of economic growth for that class.  I have tried to follow Jerome's comments on neoliberal policies that result in the "Anglo Disease", but have yet to see a concise outline.  If I have missed it I would appreciate the reference.
by bellumregio on Mon Dec 3rd, 2007 at 12:07:51 PM EST

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