[lbo-talk] Austreity in the face of weakness

[James Heartfield]

Doug, to Patrick: 'I really don't see how relying on capitalism to blow a gasket - repeatedly predicting it, rejoicing when it seems to be happening, expressing regret when it's revealed to be a false alarm - demonstrates a great helping of forward vision.'

Or as Paul Mattick mocked:

'For some of his disciples the "law of value" . seems to assure the breakdown of capitalism ...Marx's critique of political economy became the ideology of the inevitability of socialism.' ('Value Theory and Capital Accumulation', Science and Society, Winter 1959, Vol XXIII, No 1, p 33)