[Marxism] On Walter's expulsion (a criticism and self-criticism)

[S. Artesian]

This by Joaquin on oil, is exactly what I am talking about-- seeing it's 
price increase as reflection as a "natural" conditions, a physical 
limitation, and not social-- not in and of itself part of the run-up to 
offset a falling rate of return on investment that absolutely pre-figured 
the collapse of the price and the spiral into recession.  That's what is so 
mistaken about the analysis.

----- Original Message ----- 
From: "Joaquin Bustelo" <jbustelo at gmail.com>
To: <sartesian at earthlink.net>
Sent: Wednesday, January 28, 2009 4:49 PM
Subject: Re: [Marxism] On Walter's expulsion (a criticism and 
self-criticism)


>
> Oil second. The recession led to a drop in demand and a decline in price.
> That is the way markets work. Then came the financial panic in September,
> and the spiraling down of economic activity has become quite dramatic.
> IF/WHEN growth resumes, and aggregate demand for oil gets close to what it
> was at the peak of the last cycle, we will test once again whether 
> physical
> supply can expand and by how much.