[Marxism] Mike Treen: A critique of crisis theory

Mike Treen mike at unite.org.nz
Tue Nov 18 02:26:18 MST 2014


*November 10, 2014 -- Links International Journal of Socialist Renewal --
The following is based on talks given by Mike Treen, national director of
the New Zealand Unite Union, at the annual conference of the socialist
organisation Fightback, held in Wellington, May 31-June 1, 2014, and a
seminar hosted by Socialist Aotearoa in Auckland on October 12.*

The National Business Review reported a comment by New Zealand's minister
of finance Bill English on August 15 that he had occasionally pointed out
in speeches to business audiences that New Zealand has had post World War
Two recessions roughly every 10 years: in 1957-58; 1967-68; the mid-1970s;
the mid-1980s; 1997-98 and 2007-8. He would observe laconically: “You'd
think we would see them coming.”
But of course bourgeois economists, commentators and journalists don't
generally see them coming. One problem, however, is that sometimes the
Marxist alternative sees them coming a little too often.

But it is a simple fact of life that capitalism has had economic crises on
a periodic basis at least since 1825. Every 10 years or so, capitalism goes
through a cycle of boom and bust. The following charts for the US economy
illustrate this reality.

http://links.org.au/node/4156



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