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Re: <nettime> Keynesianism is IN
Alex Foti on Tue, 11 Nov 2008 22:09:27 +0100 (CET)

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Re: <nettime> Keynesianism is IN

thanx for the krugman. i like when keynes said that economics is about
maintaining the conditions for civilization, but i'm a kaleckian (he
was a marxist by way of underconsumptionist rosa luxemburg). polanyi
is superrelevant (wish had studied him more) and i think the
self-defence of society to shape and mould the emerging pattern of
regulation is what will determine whether this return to keynesianism
is to the left or to the right. union struggles are in the ascendant,
new unionization will occur. we'll have to start thinking organizing
millions of unemployed. the shift to the right, in europe especially,
is an imminent danger, you're right. but ideas especially today, in
times of historical bifurcation when ideology affects the emerging
makeup of new institutions for macro and microregulation, are the ones
that determine a dramatically polar political outcomes. bu whare the
opposing ideologies today? if the previous bifurcation was nationalism
and fascism vs new deal liberalism allied with communism, the current
one is played out by who: a european cultural civil war between a
nationalist right and a transnational left, while everything else
stays multipolar? emerging powers vs the "west"? multicultural
transnational soft capitalism vs authoritarian state hard capitalism
of the russian or chinese type? euramerica vs bolivarians and
islamists (yuck)? green capitalism vs globalized ecoanarchy? the world
split in opposing alliances of regions/powers (euramerica, bolivarian
america, panafrica, russia, india, china, japan)? or what else? thanx
for helping. best ciaos, watch out for student protests this weekend
in rome, lx

ps just for econ freaks: in the general theory, investment is what
determines aggregate income, not consumption, which is dependent on
income. in kalecki investment determines profits (and the profit
share, which is dependent on monopoly power, the wage share). great on
the political cycle of class struggle about the political
impossibility of long spells of full employment in capitalism!
pps derivatives are said to be equivalent of ponzi pyramid-like
schemes that have existed at least since the times of jp morgan.

On Tue, Nov 11, 2008 at 12:45 PM, Stefan Heidenreich

<stefan.heidenreich {AT} rz.hu-berlin.de> wrote:

> Hi Brian et all
> i skip as much as possible all the questions - gold, keynes,-ism - where
> keynes-specialists might help us further off-list and where your points
> in fact seem mostly more precise. In order to come straight to the more
> interesting points at the end.

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