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Saturday, October 2, 2010

How is Marxism superior to bourgeois economics?

David Harvey
Explaining the crisis
Interview with the author of The Enigma of Capital


....
From a Marxist perspective, equilibrium is an unusual condition. There are always forces taking us away that are internal to the dynamics of the system. So the Marxian framework would look at it in a very different way. But, again, I go back to this—you always have to be careful from a Marxist perspective not to say, “Here is the next crisis and it’s the final crisis.” What I try to do for instance in The Enigma of Capital, is to talk very specifically about what the nature of the internal contradictions of capitalism are and why the resolution of the crisis of the 1970s created a configuration that was likely to produce the sort of crisis we’ve finally seen erupting around us over the last two or three years. That then leads to the big question: What kind of adjustments are likely to occur within the capitalist dynamic to create the foundations for a new crisis further down the way?....

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