Economic Theory

Capitalism and Catastrophe: A Critical Appraisal of the by S. Rousseas

By S. Rousseas

Capitalism and disaster questions even if there are procedures in complicated capitalism that lead necessarily to systemic cave in. the writer demanding situations these Marxian theories in response to a suite of traditionally evolving 'internal contradictions' derived from a in basic terms dialectical research of capitalism. partially I he specializes in the debate surrounding Rosa Luxemburg's theories of imperialism and capital accumulation, and on Marx's therapy of technology and expertise within the Grundrisse. partly I I he seriously examines neo- and non-Marxian theories of complex capitalism, particularly the paintings of Jurgen Habermas concerning the challenge of political legitimation in complicated capitalism. Professor Rousseas argues that Marxists have seriously underestimated the resilience of the capitalist process, which has to be taken into consideration via any idea of political economic system proper to the 20 th century.

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Extra resources for Capitalism and Catastrophe: A Critical Appraisal of the Limits to Capitalism

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Human) being" (p. 1 35 ; Marx's italics). In a celebrated passage relating communism with humanism, Marx wrote (p. 1 35 ; second italics supplied) : Communism, as a fully developed naturalism, equals humanism; it is the genuine resolution of the conflict between man and nature and between man and man the true resolu­ tion of the strife . . between freedom and necessity . . Com­ munism is the riddle of history solved. - . Within communist society, the unity of man with nature is restored and the "hostility" between man's "general consciousness" and his "real life" abolished.

Have offered] theoretical proof that capitalism can go on forever. Assuming the accumulation of capi­ tal to be without limits, one has obviously proved the unlimited capac­ ity of capitalism to survive! Accumulation is the specifically capitalist method . . of economic progress. If the capitalist mode of production can ensure boundless expansion . . it is invincible indeed. The most important objective argument in support of socialist theory breaks down; socialist political ac­ tion and the ideological import of the proletarian class strug­ gle cease to reflect economic events, and socialism no longer appears an historical necessity.

2 This did not deter Engels. Marx's preliminary sketch for an expanded reproduction schema, in which capital accumulation can take place, is to be found in Chapter XXI of Volume I I . In it Marx pushed numbers around to arrive at the ex post facto equilibrium condition for capitalist growth. As in the simple reproduction model, the organic composition of capital (c/v) remains constant, indicating the total ab­ sence of technological change - a concept that, as we have seen, he stressed so heavily in his earlier Grundrisse.

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