Abstract
The issue is the economic crisis—la crise. The phrase is omnipresent in political speech. By it are understood several things: high and persisting levels of unemployment and inflation; the sense that the economic boom of the postwar epoch is over; the knowledge that the economic policies of the boom can no longer ensure full employment. —Emma Rothschild, just returned from France, New York Times, Op-Ed page, March 1, 1978This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.
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