[lbo-talk] Lenin quote

Lew wsm_mod at yahoo.co.uk
Thu Apr 16 01:14:12 PDT 2009


"When Adam Smith explains the fall in the rate of profit from an over-abundance of capital, an accumulation of capital, he is speaking of a permanent effect and this is wrong. As against this, the transitory over-abundance of capital, over-production and crises are something different. Permanent crises do not exist".

Karl Marx, Theories of Surplus Value, Ch.17.

<http://www.marxists.org/archive/marx/works/1863/theories-surplus-value/ch17.htm>

-- Lew



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