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. Rakesh > >of course, it is true that all should be very much developed. may be >in the future, in formal papers. > >rb >-- >Riccardo Bellofiore >Dipartimento di Scienze Economiche >"Hyman P. Minsky" >Via dei Caniana 2 >I-24127 Bergamo, Italy >e-mail: riccardo.bellofiore@unibg.it >direct +39-035-2052545 >secretary +39-035 2052501 >fax: +39 035 2052549 >homepage: http://www.unibg.it/dse/homepage/bellofiore.htm
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