[Marxism] Notes on the current crisis of capitalism

[S. Artesian]

What he said in Vol 3 is that in the last analysis the fundamental cause of 
all crises is the impoverishment of the masses.

He also devotes Part 3 to the law of the falling rate of profit and Chapter 
15 on unraveling the internal contradictions of the law.

He also says, on page 300 of the section on internal contradictions of the 
Charles H. Kerr 1909 edition:

"Overproduction of capital never signifies anything else but overproduction 
of the means of production--means of production and necessities of life--  
which may serve as capital, that is, serve for the exploitation of labor at 
a given degree of exploitation; for a fall in the intensity of exploitation 
below a certian point calls forth disturbances and stagnations in the 
process of capitalist production, crises, destruction of capital."

....If it is said that overproduction is only relative, then the statement 
is correct; but the entire mode of production is only a relative one, whose 
barriers are not absolute, but have absoluteness only in so far as it is 
capitalistic. ...

....This is possible only because in this specific capitalist interrelation 
the surplus-product assumes a form, in which its owner cannot offer it for 
consumption, unless it first reconverts itself into capital for him. 
Finally, if it is said that the capitalists would only have to exchange and 
consume those commodities among themselves, then the nature of the 
capitalist mode of production is forgotten, it is forgotten, that the 
question is merely one of expanding the value of capital, not consuming it."

Note that Marx, in this last paragraph, clearly identifies that consumption 
cannot be even offered unless the product can be converted into capital --  
not money-- but capital, a means for aggrandizing wage-labor at a specific 
rate sufficient to expand the reproduction of capital.  Consumption is not 
the issue.  Profitable expansion through further aggrandizement of 
wage-labor at a required rate of intensity is.  Which is why the bourgeoisie 
do what they do when confronted by the falling return on investment.

----- Original Message ----- 
From: "Charles Brown" <charlesb at cncl.ci.detroit.mi.us>
To: <sartesian at earthlink.net>
Sent: Thursday, October 16, 2008 5:37 PM
Subject: [Marxism] Notes on the current crisis of capitalism