cburford at gn.apc.org
Fri Sep 29 20:23:52 MDT 1995
Chris Sciabarra Wed 27th:
It asks the question--and provides an answer-- "Why did
businessmen en masse commit the same-type of error" in their
investments? It shows that the errors committed must necessarily be
*systemic* [my emphasis] given the financial origins of the cycle.
One other observation hinted at above: there really are some
fascinating parallels here between Austrian cycle theory and Marx's
theory of money. Perhaps if one looks at Austrian theory with an eye
toward "what do Austrians and Marxists have in common here," one might
emerge with a better understanding of how radical the Austrian theory is,
and how ingenious and original Marx was -- even from the Austrian
If out of these exchanges on this list and elsewhere there was a rebirth
of the relevance of marxism, both economically and politically, my
favoured title would be "systemic marxism".
But movements get named through a life of their own.
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