Steve wrote in [OPE-L:4206]: > Firstly, my plea for discussing other current issues--such as the Internet > Bubble in the USA--was not a request for this list to abandon its > theoretical foundation. It was more an observation that, if we did discuss > such topics, our discussion would not in any meaningful way be informed by > theories of Marxism--because we are still trying to work out the basic > building blocks of such a theory. > If I were discussing this topic on a post keynesian list, then I could use > Basil Moore's theory of endogenous money, Minsky's theory of financial > instability, Wynne Godley's work on social accounting matrices, Willi > Semmler's work on credit cycles, my own extended-Goodwin model of chaotic > interactions in finance, Andresen's model of stock markets... There are > plenty of Post Keynesian building blocks for extended analysis of complex > sub-systems of capitalism. > But what are Marxists able to contribute on this? Of course there are some > components; but the vast majority of academic output by Marxists has been > about ... the transformation problem... Surely, you must know that this is an exaggeration. Even for those who have written about the TP, it only constitutes a fraction of their intellectual output. Indeed, I don't think there is any one member of this list whose main concern and output has been the TP (although, I could be mistaken). As for the more concrete subject you suggest, are you not aware of the works by (among others) Makoto & Costas, Suzanne, Akira, former listmember Mino Carchedi, Robbie Guttmann, and Weber/Rigby? Surely, these represent significant works. Instead of denying their importance, perhaps it would be more useful to have a dialogue between the two traditions. In solidarity, Jerry
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