But in European countries, it development could not feel replicated

Western capitalism had, in the shape of the fresh “conveyor program”, elevated the removal out-of surplus worth and resource accumulation to the latest heights

Mr Ben Bernanke, president of one’s You Federal Set-aside, features spent a lifetime getting exactly what he phone calls brand new “holy grail” regarding economics: a description of the sources of the High Anxiety. I venture to suggest he might have seen alot more victory got the guy discover a bit less Milton Friedman and significantly more out of Trotsky. This is because it’s precisely about inter-relationships, together with contradictions, anywhere between European countries and you may The usa, hence lie in the center regarding Trotsky’s study, where roots of your High Depression will be found.

Western capitalism, as the latest assembly-line program out of production-what Trotsky called brand new “conveyor program”-had developed the productivity out-of work so you can an unmatched degree.