Re: Re: Current implications for South Africa

[Michael Perelman]

Yoshie is absolutely correct.  Marx accurately argued that capitalism would fail
when people rejected it because it cannot adjust to allow society to meet its
potential.  The passages that Mark (not Marx) quoted from the Grundrisse are
among my favorites, because they make the case that capitalism just does not work
very well once the system has gone beyond the point where the mere saving of
labor time is no longer very important for progress.  The real limit (getting
back to Doug and ingenuity) is the inability of capitalism to tap the ingenuity
of the mass of people, relying instead on a handful of "scientists."  He saw a
world in which all workers would be scientists of a sort.

Yoshie Furuhashi wrote:

>
> None of the above -- the tendency to overaccumulation inherent in
> capitalism, supply bottlenecks created by neoliberalism, ecological
> strains on the conditions of accumulation, etc. -- in itself is a
> _terminal_ risk for capitalism, nor will be the combination of any or
> all of the above, I think.

--

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]