[lbo-talk] Political Economy for the 21st Century

c b cb31450 at gmail.com
Mon Sep 21 05:19:07 PDT 2009


Ted Winslow

This ignores the essence of Keynes's analysis of capitalism, i.e. his claim that "the essential characteristic of capitalism" is "the dependence upon an intense appeal to the money-making and money-loving instincts of individuals as the main motive force of the economic machine" and, hence, misinterprets the quoted General Theory passage

^^^^^ CB: Money-loving is not an instinct. It is learned. There was no money when human instincts developed. Money originates about 5 or 6,000 years ago in Mesopotamia.

This is important because, if money-loving were an instinct, it would be almost impossible to end capitalism without mass genetic engineering.



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