Hillel Ticktin

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Hillel Ticktin spoke in Dublin last night on the Decline of Capitalism. It
is a long time since such an erudite debate was held in the context of
Marxist economics, even the SWP's Marxism weekend rarely reaches these
heights.
Hillel empathised the Law of Value. He talked of Surplus Value and the
large amounts of Capital looking for a home. He touched on the incredible
amount of Capital controlled by funds. The USA trade deficit and the
proportion of American pensions dependent on the value of stocks were also
discussed.

He felt that the current bubble would eventually crash. He also stated
that there would be more crises. What was missing was a revolutionary
party and because of this Imperialism would muddle through but with hugh
cost to people everywhere.

The interdependence of the world system meant that the current trade
disputes between the USA and the EU would not go beyond certain
limits.This was in reference to the banana dispute between the EU and the
USA which threatens to destroy the economies of the Caribbean.This raised
the need of the USA to do something about its trade deficit.

I raised the question of the irrational wings of British and the USA
bourgeoisie.
Eg the anti Euro entry wing of the British Bourgeoisie. He explained this
on Britains integration into both the spheres of the USA and Europe.He
felt that the logic of Capitalism outgrowing the nation state would
eventually cause Britain to enter the Euro.

On the USA the question I raised was the refusal of the Congress to write
off Third World Debt (uncollectable and a source of instability) and the
refusal to confirm the Test Ban treaty. He felt that this wing of the
Bourgeoisie was not the dominant one in spite of its control of
Congress.He remarked that movements like the militias recruited people who
would nbe in a Left wing movement if there was one. In the absence of one
many poor workingclass people accept the explanation of the world offered
by crackpots.

He stressed the decline of Capitalsim in spite of the apparent rise in
living standards between 1945 and 1973.He posited this in the Bourgeoisie
seeing the need to avoid further Octobers.

Marxist economics is not my strong point I read Capital many years ago but
for what it is worth I would put Ticktin up there with Ernest Mandel.In a
discussion in the Summer he obviously respected Mandel but disagreed with
him on a number of points.His obit for Mandel was a friendly critique as
in his journals name.
Jim Monaghan