Paul Mattick 1969 Marx Keynes Limits of the Mixed Econ

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    Paul Mattick 1969

    Marx and Keynes

    The Limits of the Mixed Economy

    First Published: Extending Horizons Books/Porter Sargent Publisher Boston, 1969;

    Source:Kurasje Council Communism Site;

    Transcribed: byAndy Blunden;

    Proofed: and corrected by Chris Clayton 2007.

    Introduction.

    I. The Keynesian Revolution

    II. Marx and Keynes

    III. Marxs Labor Theory of Value

    IV. Value and Price

    V. The Law of Value as Equilibrium Mechanism

    VI. Accumulation and the Falling Rate of Profit

    VII. The Business Cycle

    VIII. The Realisation of Surplus-Value

    IX. Capitalism in Crisis

    X. The Expropriation of Capital

    XI. Saving Capitalism

    XII Keynesianism in ReverseXIII. The Transformation of Capitalism

    XIV. The Mixed Economy

    XV. Money and Capital

    XVI. Technology and the Mixed Economy

    XVII. Capital Formation and Foreign Trade

    XVIII. Economic Development

    XIX. The Imperialist Imperative

    XX. State-Capitalism and The Mixed Economy

    XXI. Marxism and Socialism

    XXII. Value and SocialismEpilogue

    Bibliography

    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/www.marxists.org/archive/mattick-paul/1969/marx-keynes/ch08.htmhttp://www.marxists.org/archive/mattick-paul/1969/marx-keynes/ch07.htmhttp://www.marxists.org/archive/mattick-paul/1969/marx-keynes/ch06.htmhttp://www.marxists.org/archive/mattick-paul/1969/marx-keynes/ch05.htmhttp://www.marxists.org/archive/mattick-paul/1969/marx-keynes/ch04.htmhttp://www.marxists.org/archive/mattick-paul/1969/marx-keynes/ch03.htmhttp://www.marxists.org/archive/mattick-paul/1969/marx-keynes/ch02.htmhttp://www.marxists.org/archive/mattick-paul/1969/marx-keynes/ch01.htmhttp://www.marxists.org/archive/mattick-paul/1969/marx-keynes/introduction.htmhttp://www.marxists.org/admin/volunteers/biographies/ablunden.htmhttp://www.kurasje.org/
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    The Limits of the Mixed Economy. Paul Mattick 1969

    INTRODUCTION

    This book was written during a time hailed by the President of theUnited States as the greatest upsurge of economic well-being in

    history. Others, in other nations, spoke of an economic miracle, or

    else claimed that we never had it so good. Professional economists

    were overjoyed that their dismal science had finally turned out to be

    the hope of the world. They impressed governments and businessmen

    alike with their theoretical erudition and its practical applicability. With

    the unfortunate exception of an inarticulate minority, from the High

    down to the Low there was general agreement that business wasexcellent and that it would stay that way. There was some concern with

    a residue of poverty and with the few bottle-necks of unemployment

    which still marred the other wise beautiful face of Western prosperity;

    and there was something more than just concern with the unsolved

    problem of underdevelopment which prevented the large part of the

    world from partaking in the general prosperity. But some day the poor

    nations too would take off and emulate Western success, and the

    blessings of capitalism would spread over all the globe.

    Although I have witnessed this period of unprecedented prosperity,

    I also experienced the Great Depression between the two world wars. At

    that time, confidence in the resilience of capitalism was at a low ebb and

    theories abounded regarding its decline and predicting its certain demise.

    Marxism was once again in the ascendancy, if only as an expression of a

    growing discrepancy between capitalist ideology and reality. The

    climate of despair was ended by government interventions in the

    economy and by World War II. Meanwhile, John Maynard Keynes had

    evolved his theory, which suggested monetary and fiscal policies

    capable of assuring full employment in a stagnating capitalist economy.

    Governments applied the Keynesian suggestions to secure some measure

    of social and economic stability in their nations. Because these

    endeavors proved successful, an old slogan was modified to proclaim

    that we are all Keynesians now.

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    It is my contention that the Keynesian solution to the economic

    problems that beset the capitalist world can be of only temporary avail,

    and tha