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By coincidence I just finished Shaikh's article while looking for counterpoints to John Bellamy Foster's latest in MR. Foster seems to have taken a new step down the theoretical road of delinking finance from production, and thus away from orthodox Marxist crisis theories. Foster now seems to be saying that finance has superceded production as both the motive force of the system, and as the primary source of exploitation (or rather in his terms of inequality, which is not the same thing). Shaikh may be off about which factor(s), internal or external, were most important in ending the 1930's Depression, but at least he (and David MacNally in the current ISR), still hold to the labor theory of value and all that flows from it. ________________________________________________ Send list submissions to: [email protected] Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
