Neither Lenin nor Marx were underconsumptionists solely. They are dialecticians and
attribute crises to both the FROP and underconsumption. a contradictory unity. See
article "Did Marx Have a Theory of the Business Cycle" by Rudy Fictenbaum, Nature ,
Society and Thought ( I have the issue if
I wrote:
BS believed that the underlying tendency of a "monopoly" capitalist
economy was to sink toward what they saw as the normal state, a 1930s-type
depression. This ignores Marx's critique of an earlier generation of
underconsumptionists, i.e., that there is a strongly dynamic side to
Chris Burford [EMAIL PROTECTED] 02/15/00 02:41AM
As my similar post entitled "Economic Problems of Socialism" indicates, I
agree with Jim about not dismissing B S's arguments even if with
hindsight they are wrong.
On the particular point above, I would make this comment:
While the stock
Jim Devine [EMAIL PROTECTED] 02/15/00 11:37AM
Though many "orthodox" Marxists simply dismiss underconsumptionism as
somehow being heresy, I think that this is an invalid generalization of
Marx's valid critiques of what I called "an earlier generation of
underconsumptionists" above and
I don't think quoting Marx Lenin really settles the debate here, since
one can easily find quotes from both against the role of (personal)
consumption in causing crises. Among other things, Marx left his crisis
theory in incomplete form, with no clear conclusion. (For Lenin, if I
remember
It is not surprising that Lenin adopted an underconsumptionist approach, since
he took so much of his economic theory from Hobson, who was an
underconsumptionist.
Jim Devine wrote:
I don't think quoting Marx Lenin really settles the debate here, since
one can easily find quotes from both
At 08:37 15/02/00 -0800, Jim Devine wrote:
thanks for giving me a chance to blow my own horn, Chris. (Of course, you
know me: I'd blow it anyway.)
Quite unintentional! I just thought it was an interesting point!
Though many "orthodox" Marxists simply dismiss underconsumptionism as
somehow
Brad, I don't see the point here. I'm sure we could find some quotes from
the intellectual founders of your school of economics (e.g., Vilfredo
Pareto) in order to discredit your views. That would also be a useless
enterprise.
[Brad] started rereading Baran and Sweezy's _Monopoly Capital_ and
At 14:32 14/02/00 -0800, Jim Devine wrote:
BS believed that the underlying tendency of a "monopoly" capitalist
economy was to sink toward what they saw as the normal state, a 1930s-type
depression. This ignores Marx's critique of an earlier generation of
underconsumptionists, i.e., that
