http://radicalnotes.com/content/view/73/39/
Here, I'm going to discuss the financial side of the crisis, which, while secondary, is still important.
This crisis has been nicely described as a Minsky moment, but it may just as well be described as a Marx moment. Marx's term fictitious capital and the more conventional discounted present value are not entirely different, but Marx's expression emphasizes the fact that the future is both unknown and unknowable.
more at
http://michaelperelman.wordpress.com/2009/01/31/marx-before-minskymarx-before-minsky/
-- Michael Perelman Economics Department California State University Chico, CA 95929
530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com