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

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Fri Nov 19 2004 - 11:22:42 EST

At 5:22 PM +0100 11/19/04, Riccardo Bellofiore wrote:
>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.

Are your views close to Sydney Coontz's on productive labour and
effective demand?

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

Well perhaps you do think that capital accumulation is only possible
with external props, markets?

I am sorry I am not understanding how you are putting together
schools of thought.


>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

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