Re: (OPE-L) Luxemburg's Intro to P.E. in English

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Fri Nov 19 2004 - 10:58:19 EST

At 9:38 AM +0100 11/19/04, Riccardo Bellofiore wrote:
>At 20:22 -0800 18-11-2004, Rakesh Bhandari wrote:
>>At 7:27 PM +0100 11/18/04, Riccardo Bellofiore wrote:
>>>btw: me myself (though I would never claim to be orthodox, as RL
>>>wanted to be) would say that the TRPF would be essential in a
>>>overwhole crisis theory based on LTV, which should put together TRPF,
>>>disproportionality-effective demand crises, workers struggle in value
>>Riccardo, I thought you had just praised Luxemburg for not betting on
>>TRPF which you are now claiming is essential?
>>Yours, Rakesh
>exactly, the problem is in the interpretation of the law. if I would
>spell out my view, you would see that I am against the canonical
>readings of the law, including Grossmann's. my view is that the LTV
>would permit to see that exactly those means that allow capital to
>overcome the TRPF slides into effective demand crises, and the means
>permitting to overcome effective demand crises created profit squeeze
>for class stuggle in production,

but this seems to suggest that capital is always in general crisis or
that capital accumulation is well nigh impossible.  Profitability
undermines realization. Realization undermines profitability.


>and that this is a verry quick
>sumary of capitalist dynamics until the late 70s.
>sorry for noy following the discussion but I have desperately to
>finish some other works.
>Riccardo Bellofiore
>Dipartimento di Scienze Economiche
>"Hyman P. Minsky"
>UniversitÓ di Bergamo
>Via dei Caniana 2
>I-24127 Bergamo, Italy
>direct    +39-035-2052545
>secretary +39-035 2052501
>fax:      +39 035 2052549

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