RE: Re: [Pen-l] Moishe Postone

["David B. Shemano" <dshemano@xxxxxxxxxx>]

Charles writes:

 

"As long as there is exploitation, there will be crises, 'cause exploitation restricts the consumption of the masses, and 'The ultimate reason for all real crises always remains the poverty and restricted consumption of the masses as opposed to the drive of capitalist production to develop the productive forces as though only the absolute consuming power of society constituted their outer limit.'"

 

It seems to me that the present crisis was not caused by restricted consumption, but overconsumption -- the masses leveraged themselves to consume goods and services they could not otherwise afford.  If I am right (and you are obviously free to dispute my view), how does the present crises square with your underconsumption theory?

 

David Shemano

 

 

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