It is just that empirically it does explain prices as well as or better than any other testable theory. ________________________________________ From: [email protected] [[email protected]] on behalf of Coyle Eugene [[email protected]] Sent: Thursday, October 16, 2014 11:52 PM To: Progressive Economics Subject: Re: [Pen-l] RECASP: Can Capitalists Afford Recovery?
I agree with Carrol's last paragraph. On other hand I think there will be a push coming from multiple interest groups to reduce working time, soon. I.e. the demand is coming soon, how soon the cut will follow remains to be discovered. And of course the crisis will really come when the reductions are large and occur relentlessly. Gene On Oct 16, 2014, at 3:37 PM, "Carrol Cox" <[email protected]> wrote: > (Preliminary: I have always categorically rejected the assumption that > Marx's theory of value pretends to explain prices -- it does not. It is, as > Fredy Perlman puts it, essentially a theory of social relations, a theory of > culture, which simply ignores the 'problem' of how prices are established. > The proponents of "Capitalism as Power" keep pretending that a core > theoretical problem is explaining prices.) > > I have several times in past years argued that there is no crisis. Rather, > there is a transition to a capitalism that fully exemplifies Chapter 14 of > Wages, Price and Profit. Capitalists apparently learned from the experience > of the 1960s that even relative material "safety" for workers was extremely > dangerous to capitalism: such safety generated demands for free time, i.e. > for freedom, incompatible with capitalism. > > There will be no recovery because, from the perspective of capitalism, there > has been no crisis. > > The only _serious_ meaning of "crisis" is the appearance of a strong mass > revolutionary movement demanding free time. > > Carrol > > -----Original Message----- > From: [email protected] > [mailto:[email protected]] On Behalf Of Jonathan Nitzan > Sent: Thursday, October 16, 2014 4:55 PM > To: undisclosed-recipients: > Subject: [Pen-l] RECASP: Can Capitalists Afford Recovery? > > Can Capitalists Afford Recovery?Three Views on Economic Policy in Times of > Crisis Jonathan Nitzan and Shimshon Bichler Review of Capital as Power, Vol. > 1, No. 1, October, 2014 > > ABSTRACT: Economic, financial and social commentators from all directions > and of various persuasions are obsessed with the prospect of recovery. The > world remains mired in a deep, prolonged crisis, and the key question seems > to be how to get out of it. The purpose of our paper is to ask a very > different question that few if any seem concerned with: > can capitalists afford recovery in the first place? The article > contextualizes and examines this question from the viewpoint of economic > policy. The analysis is divided into three parts. The first part deals with > the mainstream macroeconomic perspective. This approach claims to have > already solved all the theoretical riddles, so the main emphasis here is on > the practical question of how to engineer a recovery. The second part deals > with the Marxist view. Marxists stress the inherent contradictions of > accumulation, so the question for them is the very possibility of sustained > growth. The third and final part takes the view of capital as power. > Capitalized power hinges not on growth, but on strategic sabotage. So from > this viewpoint, the key question is not how capitalists can achieve and > sustain a recovery, but whether they can afford it to start with. > > VIDEO AND TEXT: http://bnarchives.yorku.ca/414/ > > *** > > Recent additions and updates to the Bichler & Nitzan Archives: > http://bnarchives.yorku.ca/perl/latest > To unsubscribe, reply to this email with "unsubscribe" in the subject field. > > -- > Jonathan Nitzan > Political Science || Social and Political Thought York University > 4700 Keele St. > Toronto, Ontario, M3J-1P3 > Canada > > Voice: (416) 736-2100, ext. 88822 > Fax: (416) 736-5686 > Email: nitzan at yorku.ca > > The Bichler & Nitzan Archives:http://bnarchives.net Capital as > Power:http://capitalaspower.com RECASP > (journal):http://lha.uow.edu.au/hsi/research/recasp/articles/index.html > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
