Re: [OPE-L] SV: [OPE-L] what is irrational in the functioning of capitalism?

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Wed Nov 29 2006 - 14:46:34 EST

>Rakesh's conception below is a neoclassical, i.e., the drive for
>consumption drives economic activity.

Yes if you put it that way, Paul. I too struggled with what Andrew
Trigg is saying but think there is something important to his

  Note I'm not talking about just anyone's consumption and
  just any consumption. The luxury consumption of the possessing class funded
out of the surplus value from the valorization of capital. That's the
motive of Mr. Moneybags,
not the accumulation of capital as an end in itself.

Don't see why this is neo classical or feudal.

Please explain.


>  Marx's conception is that luxury
>consumption is basic to simple reproduction, but not to accumulation of
>Luxury consumption is the drive of the feudal lord.  Of course, the
>capitalist also participates in it.
>Paul Z.
>--On Tuesday, November 28, 2006 11:43 PM -0800 Rakesh Bhandari
><bhandari@BERKELEY.EDU> wrote:
>>All his [capitalists] spending--on luxuries today and in capital
>>motivated by the pursuit of luxury.
>THE HIDDEN HISTORY OF 9-11-2001   --"a benchmark in 9/11 research", review
>Volume 23 (2006), RESEARCH IN POLITICAL ECONOMY, P.Zarembka, ed., Elsevier

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