[PEN-L:83] RE: Re: Fwd:Winning Socialism

[Max Sawicky]

.. . . For example, Keynesian policies worked for quite awhile in the US, but
contributed in a big way to the stagflation crisis of the 1970s.)>

We seem to have some area of agreement
here between you and BDL, which puts
you (and he) in good company, but on
the basis of an apparently flaky
notion.

If you take away the oil price spikes,
how do you derive stagflation from
Keynesian policy?  If you think
the government heated up the
economy too much in the late 1960's,
generating at the very least an
increase in the price level, how
does this translate into the 'stag'
part of stagflation--low growth--
or to any kind of inflationary spiral?
How do you get a spiral of inflation
from a single shock to the price level?

If this is all answered in the paper
you sent me, just let me know and I'll
plunge into it.  If not, then . . .?

>
>I wish leftists wouldn't imitate the right's labeling of Marx as a prophet
and his predictions as "prophecies." . . . >>

Isn't this Marx's fault?  He wasn't exactly
inarticulate.

<Marx's prediction of _relative_
>immiseration was very abstract,. . . >

This reminds me of your contorted
account of what Marx really meant
by the DoP.

>From these, Marx sounds downright
misleading, unless you bite
the bullet and admit that he said
what he seems to have said and was
simply wrong in certain non-trivial
respects.

< . . .

Cheers,

MBS