Previous Issues

In contemporary history of American capitalism, four factors were responsible for supplying the economo-social system with additional sources of energy, thus saving it from the ‘general crisis of capitalism’ : technological progress, state intervention, unequal links with Third World countries and the Cold War. In the 1970s and early 1980s various reasons contributed to the erosion of technological supremacy and the energetic interventionalist role of government, leaving the arms race and neocolonialism as the only factors which enabled the U.S.A to maintain its leading role. In this review of the Regain administration it is clear that the tripartite deficit (in balance of trade, public budget and debt balance) has widened unprecedently. In the short and medium term the US will try to transfer the burden of its crisis to Japan and Europe, but a long term solution can only be found through radical change in the economo-social system.