Re: [OPE] Video Lecture by Richard D. Wolff: When capitalism hits the fan

Really good the lecture of Richard D. Wolff, but his diagnosis is not Marxist at all. Every institutional economist until certain point would agree with his diagnosis.   Wolff presents the credit mechanism of lending to the workers so they can consume at present beyond the real possibilities their budgetary constraints allow them to do so, as a new devise that rests behind the actual crisis. What disappointed!!!   Lending is as old as prostitution! The current problem rests in the complexities of these mechanisms to let the lenders properly asses the feasibility of returning loans. These complexities aimed by lenders speculation totally overcome the capacity of the system to calculate future prices!!!   And the philosopher’s stone! The solution: let the workers lead their own companies. What will happen when firms’ workers start to go bankrupt? Wolf seems to be a sort of cooperative market socialist but it is irresponsible to present this alternative without pointing out the complexities of successfully managing a firm facing fellow workers competition.   Unless he is thinking in not competition at all…  A. Agafonow ________________________________ De: Dave Zachariah <davez@kth.se> Para: Outline on Political Economy mailing list <ope@lists.csuchico.edu> Enviado: jueves, 16 de octubre, 2008 23:33:40 Asunto: [OPE] Video Lecture by Richard D. Wolff: When capitalism hits the fan Here is an excellent popularization by Richard D. Wolff on the general capitalist crisis and a socialist alternative:     http://video.google.com/videoplay?docid=7382297202053077236&ei=o7D3SIiKEYauiALMu9nnDg&q=capitalism+hits+the+fan //Dave Z _______________________________________________ ope mailing list ope@lists.csuchico.edu https://lists.csuchico.edu/mailman/listinfo/ope __________________________________________________ Correo Yahoo! Espacio para todos tus mensajes, antivirus y antispam ¡gratis! Regístrate ya - http://correo.yahoo.es

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Received on Fri Oct 17 04:34:22 2008