globalization & Pynchon?

[Jane Sweet]

KXX4493553 at aol.com wrote:
> 
> The Japanese success story after the war (not before it, Pearl Harbour
> wouldn't have happened if they had "success" before) depended on the very
> very narrow connection between the government and the big trust corporations.

That's right. The so called miracle economy. My point is
also that there is a subtle difference between economic
growth and economic development. After reaching a certain
stage, this was building, disrupted by acts of the gods--
earthquakes, depression, recession, political changes,
Wars,  and so on, the economic development, say from Perry
(1853)to 1959, "takes off." This is when productive
investment to GNP rises, say from 3 or 5 percent to 10
percent or higher, manufacturing grows at high rates, the
political, educational, technological, social (oh, have book
that compares Weber's PWE to Confucianism, I'll look),
framework is in place (one of cfa's points). 


> It was a kind of "super keynesianism". Until the eighties when the "bubblegum
> economy" began... now the state debts are 130 % of the gross income product,
> and, remember, if you want to join the Euro Zone in Europe you only may have
> got 60 %...

Yes.


> America's long boom in the nineties had its reason in the booming stock
> markets, and the fact that the dollar is still the world currency. And plenty
> of  Japanese money is still flowing through your veins...
> Kurt-Werner Pörtner


No, I don't think so. Financials, stock  prices no, again,
take a look at long term interest rates--debt, say when RR
came into office, the long bond, 30 year UST was trading at
around 14 3\4 % (remember the Bond market in the US is very,
very different than in Europe or Asia, and is the elephant
not the pimple) and at the time the Money supplies were
being measured every Friday and the markets jerked around
these silly figures, but rates were cut, the Prime here, a
big consumer index--personal debt set by the Banks (kinda
like LIBOR, but not exactly) had been up around 21%, but the
long bond dropped to 7%, that sent the stock market from its
slumbering lows to where it is today, this is all part of a
major long term cycle of disinflation and coupled with the
techno/communications revolution, capital investment,  and a
rock solid base of clean, fair, self-regulated  efficient,
safe markets, the tax base and the political guts to save
the S&L, SB, REO, and to balance the budget and stop
crowding out public debt with UST auction, and so many other
factors, but NOT globalization.