1. The current economic crisis has to be understood in terms of the historical dynamics and contradictions of capitalist finance in the second half of the 20th century. Even though the spheres of capitalist finance and production are obviously intertwined (in significant ways today more than ever before), the origins of today's U.S.-based financial crisis are not rooted in a profitability crisis in the sphere of production, as was the case with the crisis of the 1970s, nor in the global trade imbalances that have emerged since.

Leo Panitch: We're very impressed with the changes you are making with the parliamentary caucus, Jack — transforming caucus members from critics and professional politicians to advocates. How much further can you push them and how far will they go toward seeing themselves as organizers, mobilizers and educators rather than parliamentarians?

Jack Layton: We'll see how far they are willing to go. My latest proposal to them is that they fan out across the country and give talks about their advocacy work once every two weeks. They all thought it was a good idea.