[DEBATE] : (Fwd) US capitalist crisis unfolds

[Patrick Bond]

----- Original Message ----- 
From: "Doug Henwood" <dhenwood at panix.com>
> Every Marxist, and lot of Austrians, not to mention a lot of
> freelance worrywarts, have fixated on 1929 to the point that that's
> all they can see. Now if he'd predicted disaster, and then the long
> postwar boom followed by the neoliberal era - that would have been
> impressive.

What better than the classical marxist theory can take us through from 
overaccumulation (1920s) to financial bubbling (late 1920s) to financial 
crashing (1929-32) to real sector devalorisation (1929-45) to renewed 
accumulation (1945-1967) to overaccumulation (1967-80s) to financial 
bubbling ... and so on. Isn't neoliberalism the Treasury View reborn, a set 
of partial devalorisations and financial tricks that together fail to 
establish the conditions for a new round of accumulation?