[lbo-talk] the next recession

[Rob Hoveman]

I'm afraid it's not highly doubtful. Fred Moseley has done very extensive research on this and to my mind effectively refuted Michael Heinrich's contention that Marx did not retain this as a central component of his developing but still, at his death, undeveloped theory of crisis. Even if he did not retain it though, the theory does follow, with certain assumptions, from the Labour Theory of Value and he certainly didn't abandon that.

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  On Sat, 30 Jan, 2016 at 9:59 pm, Carrol Cox<cbcox at ilstu.edu> wrote:   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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