Re: Hillel Ticktin, or, is there an economic crisis ?

["dmschanoes" <dmschanoes@xxxxxxxxxxxxx>]

To comrade NS:

That might by Mattick's interpretation, but it sure isn't Marx's since
commodities exist only as capital.  The 'relative scarcity of surplus value'
is exactly that, a relation to the overall mass of capital, a product
therefore of the overproduction of capital which is inherent, essential,
critical to the reproduction of the system.

Marx consistently points out that discussions about "shortage" of capital
are at heart discussion of the "shortage" of money, i.e the decline in
profits due to overproduction.

Marx makes this point in Capital, in theGrundrisse, in the Neue Rheinische
Zeitung... etc. etc.

The inability to invest is not a function of a lack of capital base, but of
the return on investment, of profit.

Your argument about investment not being possible because of the "poverty"
or pauperization of area is essentially another variety of
underconsumptionist theorizing.  The pauperization or lack of development of
an area is a main index to overproduction.  Overproduction has nothing to do
with need, and everything to do with profit, thus scarcity  in terms of
social development is a manifestation of the overproduction of capital.

 dms

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