Watergate and Indochina

Authors

  • Paul M. Sweezy
  • Harry Magdoff

DOI:

https://doi.org/10.14452/MR-025-02-1973-06_1

Keywords:

History, Imperialism

Abstract

The Watergate scandal has broken wide open at a time when U.S. capitalism is in as deep trouble as at any time in its entire history. Appearances may seem to contradict this judgment, for it is undoubtedly true that the economy is in a strong cyclical upswing, with profits at an all-time high and officially counted unemployment down to "only" 5 percent. Inflation, especially in the area of food prices, has made a strong impact on all strata of society and has imposed extreme hardship on some, but establishment spokesmen are quick to point out that consumption of both durables and nondurables is running higher than ever before, hardly a symptom of imminent crisis.

Published

1973-06-01

Issue

Section

Review of the Month