> On Nov 15, 2025, at 17:14, hari kumar via groups.io 
> <[email protected]> wrote:
> 
> apropos an earlier conversation, another example where M & E trimmed sail.

Thanks. This is another distinction between a young Marx and mature Marx. I 
just read Ståle Holgersen's book "Against the Crisis" where he noted that in 
the 1840s through the 1860s M&E viewed capitalist crises as events that can 
cause the capitalist system to collapse; in later years, they came to view 
crises as periods where capitalism re-invigorated itself by capital 
devaluation, destruction of some parts of the capitalist class, and a period of 
immiseration for large sectors of the working class.

Mark

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