[lbo-talk] Marx: "Permanent Crises Do Not Exist"

[Carrol Cox]

I think many (probably not a majority) of leftists identify an economic
crisis with a crisis of capitalism; and when they speak of a crisis of
capitalism they use the word as it is usually used in medicine: a point from
which the patient either recovers or dies. In general the word is thrown
around too loosely.

If it doesn't carry that medical association, then it really isn't saying
much.  Rough times. So?

Carrol


> -----Original Message-----
> From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org]
> On Behalf Of Angelus Novus
> Sent: Tuesday, July 02, 2013 12:34 PM
> To: marxism at lists.econ.utah.edu
> Cc: lbo-talk at lbo-talk.org; pen-l at lists.csuchico.edu;
> meltdownIII at yahoogroups.com
> Subject: [lbo-talk] Marx: "Permanent Crises Do Not Exist"
> 
> 
> 
> "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."
> 
> 
> Theories of Surplus-Value
> 
> 
> http://www.marxists.org/archive/marx/works/1863/theories-surplus-
> value/ch17.htm
> 
> 
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