Volume 20, Number 20 · December 13, 1973
The Big Freeze
By Jason Epstein
What is most puzzling about the present uneasy combination of inflation and depression in the United States and elsewhere—a combination that includes high rates of production, employment, and profit with great pools of economic stagnation and widespread shortages of all kinds—is that no one has tried to account for it in a general or systematic way; as the result, in other words, of a certain historical process from which certain political consequences can be expected to follow.
Feature, 4536 words
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