From: Paul Zarembka (zarembka@BUFFALO.EDU)
Date: Wed Nov 29 2006 - 14:16:47 EST
Rakesh's conception below is a neoclassical, i.e., the drive for consumption drives economic activity. Marx's conception is that luxury consumption is basic to simple reproduction, but not to accumulation of capital. 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 investments--is > 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 *********************** http://ourworld.compuserve.com/homepages/PZarembka
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