[lbo-talk] Subprime crisis - overaccumulation?

Doug Henwood dhenwood at panix.com
Tue Jan 15 09:17:44 PST 2008


On Jan 15, 2008, at 11:29 AM, Marvin Gandall wrote:


> The Luxemburg/Lenin generation and a succession of Marxist thinkers
> through
> to Harvey have had no alternative but to look to "displacement" of
> the final
> crisis as an explanation for its failure to materialize in the most
> mature
> capitalist economies.

According to Russell Jacoby's piece on crisis in Marxism, Lenin held Luxemburg's theory in low regard. He was much more convinced of the capacity of capitalism to develop - unless politics intervened.

Doug



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