> "It was not only at the level of prediction that Marx failed, but he made > one of the hugest theoretical errors, with the most far-reaching cultural > effects, of all time in presuming the predominant role of consumption for > economic surplus, when in fact its predominant role is far and away > investment, and the only financial source, ultimately, whether socialist > system or capitalist, of job creation and economic growth. Thus he labeled > it "unpaid labor." Weber knew better."
I don't get this at all. In fact, Marx emphasized _accumulation_ (investment not only in the means of production but in extending capitalist power) much more than consumption, which played a passive role. The use of surplus-value (i.e., unpaid labor) to pay for accumulation is a major theme of the last part of volume 1 of CAPITAL. That causes "economic growth" and job creation. (He saw this process as leading to crises, but that's another story.) -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list pen-l@lists.csuchico.edu https://lists.csuchico.edu/mailman/listinfo/pen-l
