[Marxism] Larry Summers channeling Sweezy?
mikedjyates at msn.com
Sat Apr 2 09:53:14 MDT 2016
Jim Farmelant wonders if Summers is aware of the Monthly Review school of thought on secular stagnation. I think he is. He is from a family of economists, and is nephew to Paul Samuelson and Kenneth Arrow. Samuelson devoted much effort to a refutation of Marx, and surely Summers is aware of this work and much more. Sweezy was, according to Georgescu-Roegen, the best of the young Harvard economists in the 1930s. So it is unimaginable that Summers doesn't know about MR's economics. That he wouldn't cite them is not surprising. The MR school has radical implications, which Summers, Krugman, et. al. don't want to dwell on. Similarly, MR's summer 2014 issue was titled "Surveillance Capitalism," and contains many interesting articles on the surveillance society in which we find ourselves today. Now Shoshana Zuboff, emeritus professor at Harvard, has taken to writing about surveillance capitalism as if she coined the phrase. Really disgusting but par for the course. Zuboff's work is naturally also devoid of radical conclusions.
What is most disturbing, however, is when radicals think that because mainstream thinkers begin to dabble in radical theory that this means anything good. It does not. See my essay, "Occupy Wall Street and the Celebrity Economists." Harry Magdoff called Paul Krugman a "prizefighter for capitalism." So is Summers, and so is Zuboff. As the old labor song says, Which Side Are You On? These people know what side they are on, and it isn't ours.
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