value

Steve.Keen at unsw.edu.au Steve.Keen at unsw.edu.au
Wed Nov 1 15:54:06 MST 1995


Jim (Miller), what a wonderful job you did of turning a semi-
apology into a ludicrous insult:

|TO STEVE KEEN:
|   I appreciate your scholarship, but I agree with Juan Inigo
|that you stand on the wrong side of the class line. The pro-
|capitalist character of your orientation comes through in your
|last post wherein you try to explain what is useful about
|Marx, once you have ripped out his heart.
|   You say, "...in my opinion, Marx provides an axiomatic
|foundation for Post Keynesian economics that could make it
|much richer than it already is."
|   It is true that the intellectual representatives of the
|capitalist class, whether post-Keynesian or Keensian, will
|find "axioms" in Marx's work which they will attempt to use
|to defend the perpetual right of Mr. Moneybags to squeeze the
|workers. That's what they're paid to do. The more scholarly
|they are, the more effective their work.

If you can find any point at which I "defend the perpetual right of
Mr. Moneybags to squeeze the workers", show me! Jesus, because
I believe there's something of merit for Post Keynesian economics
in Marx, I am therefore pro-capitalist!

Here we return to a complaint that has been made about your
contributions by John Ernst and Jerry as well as by me: if you
think Post Keynesian economics is "pro-capitalist", then it's
obvious you know nothing of it.

So some more reading suggestions for you. Try: Kalecki's _Selected
essays on the dynamics of the capitalist economy_, CUP, 1971;
Kregel's _The theory of economic growth_, Macmillan 1972; also
Kregel's _Post Keynesian Economics: The Reconstruction of Political
Economy_ (don't have the reference handy); Minsky's _Can "It"
Happen Again_, ME Sharpe, 1982; to get an idea of the scope of
Post Keynesian economics--a scope Marxian economics would have to
match to be as cogent--try Peter Reynold's little textbook _Political
Economy: a synthesis of Kaleckian and Post Keynesian Economics_, 
St Martin's Press, 1987; you might also check out recent issues
in the Journal of Post Keynesian Economics (that capitalist 
running-dog Keen has a piece in the latest issue).

You say that you appreciate my scholarship. Thanks. One of these
days, I would like to appreciate yours. That will only happen
when you demonstrate some, by reading some of the enormous
literature that stands between Marx circa 1867 and the modern,
critical analysis of capitalism, and by reading it to learn--
as well as, perhaps, seeing its errors.

Cheers,
Steve Keen


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