TOWARDS A UNIFIED THEORY OF THE CAUSES AND LIMITS TO THE INDUSTRIAL CYCLE

12 January 2019 — theplanningmotivedotcom

Capitalism is society’s first chaotic industrial society which by tending to recurring crises demonstrates its transitory nature. Marx was not the first to note the industrial cycle, it was well known to Smith and Ricard. Marx provided a primary and subsidiary explanation for these recurrences, but because this explanation was disjointed, it led those who followed him to adopt contradictory positions on why capitalism stumbled periodically. These explanations ranged from the tendency for the rate of profit to fall, to under-consumptionism and on to disproportionality. This paper will demonstrate that they all are part of the unified theory and the way they connect offers a full explanation why production, under the whip of profit, will always be convulsive.

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The global slowdown: US trade war comes home By Andre Damon

4 January 2019 — WSWS

The term “decoupling,” referring to the severing of trade ties between the United States and China, has, to quote one commentator, become the “talk of Washington.” The two countries are embroiled in what has been widely described as a “new cold war,” in which, in the words of former Treasury Secretary Hank Paulson, an “iron curtain” has descended over the Pacific.

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You Can Always Tell By S.Artesian

21 November 2018 — Anti-Capital

Leading indicator:  Here’s how you know when an upturn in the economy is beyond its peak, has run its course; that the wolf at the door is actually a bear; that it’s time to head for the exits before they get nailed shut; that the next big thing in this world of, by, and for investors will be options on canned goods and shotguns.  Simple.  Somebody who everybody thinks should know better gets in front of a microphone or phones, a camera or cameras and says something like “This time is different,”  something like “This time the good times don’t have to end.”

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From Surplus to Over Production By S. Artesian

November 2018 — Anti-Capital

1. Capital is a specific condition for the development, appropriation, distribution, and accumulation of surplus product.  That specific condition is the condition of value, where the products are exchanged in proportion to the social human labor time necessary for their reproduction.   The historical basis for that condition is the separation of the forces of production from the producers themselves.  The separation is then embodied, and reproduced, in an antagonistic exchange relation in which the more capital exchanges of itself with labor power, the more it accumulates; and the more capital accumulates, the less proportionately of itself it exchanges with labor power.

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End of the year or end of the world (as we know it)? By William Bowles

23 December 2008

think-aheadBefore all the Xmas BS gets in the way, an end-of-year essay of sorts is in order, especially so given the bumpy ride capitalism has bestowed on us this past twelve months. And the portents for 2009 look to be even worse as capitalism, desperate to shed over-valued assets, descends into the abyss.

Look at it this way: after the Crash of ‘29 and the launch of the New Deal, it took some six years to engineer the outbreak of WWII, the surefire way of literally burning up surplus capital in awesome quantities.

And if history has any lessons for us, some equivalent global conflagration is now in order. However, is this possible under these new circumstances and over what timescale can such a capitalist catastrophe be engineered?

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The Obama Dilemma: A Mission Impossible? By William Bowles

28 November 2008

mission-obama“The bourgeoisie [are] out of answers, and with the increasing costs of production and transportation driven by the price of oil, with the price of oil driving the bourgeoisie into greater capital expenditures to increase the rate of surplus value; with oil undermining growth in the mass and rate of value added– manufacturing, hidden beneath all the noise and clamor of Wall Street, of all the investment bankers at all the trading desks slapping themselves on the back with each new deal– manufacturing had all ready rung the closing bell.

“Those who didn’t hear it, couldn’t hear it. They were too smart. They were too stupid.

“The only answer left for capitalism…is the destruction of assets.” — ‘Pimp My Assets Part 3’, The Wolf Report.

So desperate are we for real change that Obama’s election promises became a veritable mantra for millions of people, especially the young, black and poor. Understandably, there is more than a little wishful thinking involved here given the disastrous decade we’ve been through. And after all the guy is young, apparently gifted and black, what more could anyone ask for?

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