[OPE] capital's roads to recovery?

From: GERALD LEVY <gerald_a_levy@msn.com>
Date: Wed Jan 21 2009 - 08:40:33 EST

Hi all:
There is much debate in the inner circles of capital and the state about
possible ways to get out of the economic crisis. But, what do Marxists
- from different theoretical perspectives - have to say in reply to that question?
Let me tell you what I DON'T want to hear from you in response to that
question. I don't want to hear:
a) "there is no way out of the economic crisis other than socialism".
I don't want to hear that because there isn't at present a international
socialist movement which is organized enough to succeed and the
working class internationally is still in the embrace of reformism. That
can and, hopefully, will change but not, most likely (imo), before capital itself
succeeds in restoring international capital accumulation.
b) "it's not our role to advise capitalists and the state about how they can
get out of the crisis".
Even if true, the reason I don't want to hear this is because it misses the _point_
of my question. The point isn't to advise capitalists. The point is for us to discuss,
compare, and critique our alternative Marxian perspectives on what would have to
be done for the international capitalist economy to expand again. The object for
such a discussion will be to see how our differing theoretical perspectives inform
our understanding of a major global economic issue today.
Obviously, the question revolves in large part over our different perspectives
on what is required to increase the rate of profit. But, there what is obvious
begins to end - especially once we begin to consider the alternative ways
in which surplus value can be increased, the demand for means of consumption
and means of production, the level of employment and income, the devaluation
of existing fixed capital and technological change, liquidity and credit, foreign
exchange markets, and states' ability to impact the economy through taxation,
spending, regulation, and monetary policy.
Can what has been successful in the past again be successful for capital today?
Or, is there something about the current crisis which suggests that the old routes
to recovery will be obstructed and impassable? If so, can these bottlenecks
be broken and, if so, how?
So, what do you think? What are the possible ways in which capital _can_
In solidarity, Jerry

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Received on Wed Jan 21 08:42:29 2009

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