One more time....

Mark Jones markjones011 at tiscali.co.uk
Mon Jan 13 16:52:24 MST 2003


Louis Proyect:

> My only suggestion is to
> really put some
> effort into your final post so that people will go "oooh" like when they
> see fireworks.
>

Not before time, either. But now this thread is hopefully over, this gives
me the chance to say that I find David's talk about 'overproduction' as
questionable as his talk about oil. I've been steering clear of this because
I don't think marxian crisis-theory is really the important thing here. The
important thing is the Hubbert Peak in oil production and the implications
thereof, but I have to say that David's notion (if I read him right) that
Marxism is at root a theory of overproduction is also obviously very
contentious, not least in the sense that every attempt from the time of
Hilfreing and Luxemburg to make of it such a thing, has always met with
controversy and rebuttal. I presume btw that David is referring to the
over-production *of capital* rather than of any physical commodity, altho
even this is not very clear from his talk of the overproduction of oil etc.
But certainly, any feasible reading of Marx's theory of capitalist crisis
(actually, a theory of capitalist equilibrium) must begin with the
assumption that Marx was indeed talking about the overproduction *of
capital*.

And this is my last word on THAT topic too.

Mark


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