[OPE-L] Mavroundeas, Ioannides, Trigg and me

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Fri Aug 25 2006 - 13:19:24 EDT

So far there has been no comment on my complaint that many of my
criticisms of Trigg
were appropriated without acknowledgement. But a search of the OPE-L
archive will reveal
that I clearly made the following points.

1. I argued that Kalecki and Crotty were confused about whether
profits determined investment or profits determined investment. I
argued that Crotty was wrong to rule out the possibility that
declining profitability could depress investment.

2. I argued against Trigg for suggesting that capitalists could spend
their way out of crisis. I suggested
that his banners would have to say Capitalists of the World Unite and

3. I argued that Grossmann's emphasis on production was apposite for
the analysis of protracted, deep and general crises. I granted that
Andrew T's demand side analysis may well be illuminating for less
serious forms of crisis.

4. I argued that Andrew T allowed for unrealistic and unbounded rises
in the rate of surplus value
as effected by autonomous increases in luxury spending.

One can judge for oneself whether these points have simply been
repeated in the following.


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