The Real Movement

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Tag: Ricardo

Growth, Stagnation or Collapse: A short comment on Anwar Shaikh’s new book

Here is a quote from Anwar Shaikh in the lecture series based on his new book:

“Capitalism is a growing system. Any analysis of capitalism must build into it from the start that it is growing.”

Shaikh’s statement is really rather incomprehensible given what he says is his starting point for analysis of the capitalist mode of production: the framework provided by classical theorists and Keynes.

How can he claim to base his argument on the classical economists and Keynes when, contrary to both of those schools, he characterizes capitalism as a growing system? In Keynesian theory the system tends toward stagnation; while in classical theory, the mode of production tends toward conditions that must lead to collapse, a falling rate of profit. Read the rest of this entry »

In case you were wondering: Yes, the chief economic adviser to Tsipras is insane.

The title of this post is, by any measure extremely rude and provocative, but bear with me. If you can get through the first section of this post, which is extremely wonky, I will show why one of the most important advisers to SYRIZA is likely living in his own special world, and not subject to arguments founded in the real world. According to Einstein (or Mark Twain, or an old Chinese proverb or Benjamin Franklin — who knows for sure) insanity is doing the same thing over and over again but expecting different results. If this is true John Milios is insane, as I will prove.

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Part 2: How Larry Summers proved Marx was right about everything — (And why this is not necessarily good news)

3. So here is my question

Why would Summers go to all that effort just to prove Marx had been correct all along regarding how the capitalist mode of production works. Why did Larry Summers set out to prove that the herald of the communist specter, the co-founder of Scientific Socialism and the arch-nemesis of the bourgeoisie was absolutely correct in his description of the difference between the way commodity money operates and the way valueless state issued pieces of paper function. Was it because of some intellectual curiosity about an obscure empirical observation that, even by Summers’ own admission, was no longer even relevant? Was  it a platonic pursuit of truth?

Personally, I don’t know any communist who thinks the words “Larry Summers” should appear in the same sentence with the word, “truth”; and I am not buying that explanation either. The more likely answer would be that a proper understanding of how the mode of production works is necessary both if you want to accelerate capitalism’s development and if you want to devise effective policies to prevent it from collapsing.

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