>In some ways, the big debate between Crotty/Henwood and Brenner can be read
>as a profound entente, no? If one considers the policy implications that
>follow from their causal theories of why the profit rate fell, leading to
>stagnation and misery,
The restoration of the profit rate has probably resulted in more misery than its fall.
>it seems to me that Crotty justifies labor's
>acceptance of great moderation in the wage struggle (something you have
>tagged Doug with here) while Brenner, whatever his intentions, has
>justified a form of import duty socialism. The entente takes the form of
>low wage mercantalism. I see no reason why it would be dishonest for Pat
>Buchanan to argue that his next presidential platform was indeed based on a
>careful synthesis of the the Crotty/Brenner theories.
Golly, Rakesh, if you consider yourself anti-capitalist, you'd never advise labor to moderate its demands to make the system work better. I can't speak for Crotty, but I'd never urge labor to moderate its demands.
What are the policy implications of the Bhandari analysis, anyway?
Doug