From: Gerald A. Levy (Gerald_A_Levy@MSN.COM)
Date: Thu Sep 16 2004 - 08:28:43 EDT
Hi Paul C. >>>>>>>>>>>> I think they are characteristic features of a closed mature capitalist economy where demand for labour will tend to outstrip supply and place the working class in a strong bargaining position. >>>>>>>>>>>> This implies that there is a tendency in a mature capitalist economy for the size of the industrial reserve army to be severely diminished and for effective demand to tendencially increase. It also suggests that capitalist economies will be less crisis-prone -- unless the crises are caused by a shortage of labour power. This raises the questions: 1) what are the long-term, historical forces which are causing these 'tendencies'? 2) how can it be established -- logically and empirically -- that the tendencies you assert are more primary and dominant than contrary tendencies which cause the IRA to increase and/or lead to overproduction? 3) what is the empirical evidence for this for mature capitalist economies _in general_ rather than only in specific capitalist social formations? 4) how can it be established that the historical experiences you refer to are a *necessary* consequence of capital accumulation? [NB: you include the adjective 'closed' above. Yet, none of the capitalist economies you refer to above could be seen as 'closed' economies. ] The issues you raise re China and India are very important: perhaps others will wish to discuss them now? In solidarity, Jerry
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