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

From: Riccardo Bellofiore (riccardo.bellofiore@UNIBG.IT)
Date: Fri Nov 19 2004 - 11:22:38 EST

At 7:58 -0800 19-11-2004, Rakesh Bhandari wrote:

>>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.

definitely this is not my view: I am talking of a long-run - secular,
if you wish - explanation of "big" crisis: Great Depression, Great
Crash, '60-'70s.

it looks funny: some posts ago it seemed that I could be guilty of
thinking that capitalism can be stabilized forever.

of course, it is true that all should be very much developed. may be
in the future, in formal papers.

Riccardo Bellofiore
Dipartimento di Scienze Economiche
"Hyman P. Minsky"
Via dei Caniana 2
I-24127 Bergamo, Italy
direct    +39-035-2052545
secretary +39-035 2052501
fax:      +39 035 2052549

This archive was generated by hypermail 2.1.5 : Sat Nov 20 2004 - 00:00:01 EST