Re-sent Post on Cycles

Doug Henwood dhenwood at
Sat Sep 24 12:07:11 MDT 1994

Hey! That's the epigraph for my Wall Street book! I'd say "thief!" but I
didn't write the graf, alas.


Doug Henwood [dhenwood at]
Left Business Observer
212-874-4020 (voice)
212-874-3137 (fax)

On Sat, 24 Sep 1994 Steve.Keen at wrote:

> To Chris Sciabarra:
> Many thanks for the observations on the Austrians and
> their commonalities with Marx's analysis--I'll chase
> up those references. For the record, here's Marx on bankers:
> "Talk about centralisation! The credit system, which has its
> focus in the so-called national banks and the big money-lenders
> and usurers surrounding them, constitutes enormous
> centralisation, and gives this class of parasites the fabulous
> power, not only to periodically despoil industrial capitalists,
> but also to interfere in actual production in a most dangerous
> manner--and this gang knows nothing about production and has
> nothing to do with it."(Capital III, pp. 544-45.)
> Sounds pretty Austrian, don't it?
> Cheers,
> Steve Keen


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