Karl Marx

WHEN THE LEFT AIN’T RIGHT

If pragmatism is to be resurrected in American economics and politics, the methodology of John Maynard Keynes remains as the best starting point.  However, because real economies evolve in complexity—and because economic ideas stagnate and loose vibrance—Keynesian-type thinking needs rebirthing.  The best intellectual pathway for renewal ought to start with Joan Robinson, Keynes’ student.  Her reflections on what she called the profit lacuna are a solid gateway toward the development of some sort of in-between theory dealing especially with all sorts of fraud.  Beyond economics, it might also pour balm on America’s culture wars.  Capitalism in Crisis dot Org is about fleshing out these compelling possibilities.

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CAPITALISM: CAN IT BE SAVED? AMERICA, RENEWED?

Tragically, the path toward capitalism’s renewal—and America’s renewal—is blocked by Trumpian intransigence. It’s not the only blockage, of course. Adam Smith, moral philosopher and capitalism’s Eighteenth Century architect, held a singular vision, and one compatible with America’s founders: improvement of the common good, especially it’s material aspects. Smith’s prescription? To align self-interest’s pursuit with the […]

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AND NOW, PSEUDO-CAPITALISM

We’ve described a hypothetical scenario in which an 18th Century farmer removes a plow horse from the field, then tethers it near his door solely for the pleasure of his children. Farm output and productivity slip. Then we linked the scenario to contemporary American capitalism. We call this pseudo-capitalism. It has evolved to include all […]

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AFTER DIVISIVENESS, WHAT?

David Brooks explains why Donald Trump’s attack dog isn’t hunting well amid Covid-19 meltdown. One wonders then, what will come on the heels of flagging Trumpian culture warfare? Brooks’ New York Times colleague Michelle Goldberg ruminates about big culture shifts paving the way for big, yet-unknown political changes. The grinding scenario she foresees: looming economic […]

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BIDEN’S COVID-19 RESPONSE?  GET THE PLOW HORSE BACK IN THE FIELD!

Trumpian banter sounds far-too-much like the run-up to Civil War.  Should populous New York (and other politically liberal states) be forced into bankruptcy while ministering to their citizens?  So says Senate Majority Leader Mitch McConnell in the wake of America’s Covid-19 meltdown, April 22. What ought the leader of “the loyal opposition” Joe Biden, do? […]

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