“At a certain stage of development, the material productive forces of society come into conflict with the existing relations of production. ... From forms of development of the productive forces these relations turn into their fetters. Then begins an era of social...
According to the most recent data released by the Federal Reserve, U.S. industrial production as measured by the Fed's manufacturing index (see chart), reached 101.2 in May, finally surpassing the previous peak of 101.0, reached in December 2007. Following that peak,...