ABSTRACT
The experience of the sixties, when the New Economics and the Vietnam War propelled the United States (US) economy forward, bears this out for blacks. What residual supply-side inflation is left in the US economy comes from the capital side rather than from the labor side of the market. The typical US capitalist has the best of all worlds in the era of secular stagnation. The USSR’s affirmative action policies toward women and Gypsies seem to be superior to those of Hungary, although this difference is not as clear-cut as that between the US and Canada. Discrimination would have been less possible and affirmative action less imperative, just as it probably under “actually existing socialism.” The US under FDR somehow muddled through the thirties without resorting to classical Keynesian policies and in fact increased the independence of the Federal Reserve Board in 1935.
