[lbo-talk] Special Page at Monthly Review: Exchange with M. Heinrich on Crisis Theory

[michael yates]

Angelus Novus refers us to an exchange between Michael Heinrich and his critics concerning the Tendency of the Rate of Profit to Fall. Let me say first that I like Michael Heinrich a great deal and the same is true for brother Angelus Novus. So I tend to take what they say in as favorable a light as possible. However, in reading the exchange at http://monthlyreview.org/commentary/heinrich-answers-critics, I think that I would give the nod to Heinrich and Angelus Novus even if I hated the two of them. His critics seem like four stumblebums going into the ring with Manny Pacquiao. They think that a bit of fancy footwork will show the champion that they are not to be trifled with. But they forget that the champion not only throws a lot of punches but that each punch hurts and together the blows will be fatal to their aspirations.

And if you have an argument about this, take it up with Heinrich. He's a hell of a lot smarter than I am as is Angelus Novus. Of course, neither will ever convince their critics. The latter are true believers.