In short, the elimination of the financial legacy of Reaganomics could force the United States to make some exceptionally difficult choices indeed.

Among the many factors that make a return to halcyon days of the first decades of the postwar era virtually impossible is the decline of clearly defined political leadership.

I was certain that I was not a Marxist, but I did believe firmly that a connection between economics and politics existed.

The competitive nation-state system, with all its capacity for good and evil, is spreading in the Third World and is transforming that world.

One reason for the primacy of the market in shaping the modern world is that it forces a reorganization of society in order to make the market work properly . When a market comes into existence, as Marx fully appreciated, it becomes a potent force driving social change.

Liberal economists conceive of societies as black boxes connected by exchange rates; as long as exchange rates are correct, what goes on inside the black box is regarded as not very important.

The world economy diffuses rather than concentrates wealth.