[Marxism] Henryk Grossman

[Rakesh Bhandari]

Here denying a crisis of overaccumulation Costas Lapitvistas challenges
those of us sympathetic to Grossman:

"It is not so much that real accumulation does not generate enough
profitable avenues for banks to lend. Rather productive capitals can
increasingly meet their financing requirement either by retaining profits
or by borrowing directly in open markets for bonds and other instruments.
This is very clear with Japanese companies that have historically relied
on big banks for finance. If they want external finance for their
investments now they are more likely to issue bonds in international
markets. Banks have been edged out of this business, and have to seek
other avenues of profitability for themselves."