[lbo-talk] the next recession

[Carrol Cox]

It is highly doubtful that Marx held on to the FROP theory -- mentioned only
in K3 -- the first volume to be written & never revised. The unavoidable
tyranny of capitalism is commodity fetishism (which is _not_ a belief or a
feeling or a fantasy but an objective reality of capitalist production; its
political implication is that workers mutually oppress themselves by
working.

Carrol 

-----Original Message-----
From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org]
On Behalf Of James Creegan
Sent: Saturday, January 30, 2016 2:51 PM
To: lbo-talk at lbo-talk.org
Subject: Re: [lbo-talk] the next recession

Marv Gandall asked:

Frankly, if someone could explain to me the immediate practical implications
of these conflicting crisis theories, I?d be grateful. Otherwise, the debate
is mainly scholastic.

********************

To listen to someone like Andrew Kliman, the political implications are no
less than reform v. revolution. If one argues that underconsumption is the
cause of the crisis, then Keynesian consumption-boosting government policies
are a possible remedy. If, on the other hand, the FROP is the cause, there
is no remedy outside the abolition of capitalism itself. This is not my
view, just one I have heard stated.

Jim     
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