[lbo-talk] Capitalism and Collapse (and contradiction)

[Patrick Bond]

----- Original Message ----- 
From: "Rakesh Bhandari" <bhandari at berkeley.edu>
>  As war allows for running down and outright destruction of excess
> capacity, it allows capital more scope for investment (eventually in
> Iraq most of all as at present there is using up of the capital stock
> without simultaneous reproduction) and the possibility of resuming
> accumulation on more favorable terms, i.e., on the basis of a more a
> technologically advanced capital stock.

Yes this is true but the point is that the short-term *external* process - 
beyond the system's immediate logic of 'accumulate accumulate accumulate' - 
qualifies the precondition for such valorisation to be named 'crisis'.