Left Forum 2014: The Economic Crisis & Crisis Theory Panel 2/2 –_on Economic Collapse Teach-in

This show was broadcast October 25, 2014.
It is now archived here — Use Player


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ONE KEY ECONOMIC COLLAPSE TRUTH Revelation

Key information for the uninitiated and the initiated alike.

Left Forum 2014: The Economic Crisis & Crisis Theory Panel 2/2

Marxist-Humanist Initiative panel at Left Forum 2014, June 1, 2014

The Economic Crisis and Crisis Theory, Panel II

This panel explored causes of the Great Recession and the continuing economic sluggishness since the recession’s ended, as well as how the left can respond to this situation. In keeping with the conference theme, panelists addressed what different analyses and theories imply about the kind of socioeconomic change that is called for.

Alan Freeman spoke on “Consumption, Profit and Finance: why can’t the left get it right?” He explored why so many academic left thinkers persistently avoid normal methods of enquiry after truth. Focusing on Marx’s theory of crisis, the share of wages in US income, and the relation between finance and profitability as examples, he discussed how prejudice and the desire to find “evidence” to support a political line take first place over the use of logic and the study of evidence. Andrew Kliman asked “Were Corporations–or Corporate Executives–Really Hogging a Bigger Share of the Income Workers Produce?” and explained why the answer is “no.” For this and other reasons, increased income inequality wasn’t a main cause of the Great Recession. Michael Hudson spoke on “The New Austerity: Feeding the FIRE sector overhead.” He argued that the aim of Quantitative Easing is not to re-inflate wages and consumer prices, but to re-inflate asset prices to rescue Wall Street, not the economy. Thus, increased output is going to the FIRE sector, not into production and consumption. Mike Dola was chair.

Marxist-Humanist Initiative, www. marxisthumanistinitiative.org


Uploaded on Jun 12, 2014

The Economic Collapse Teach-in encompases upon some of the most highly controversial an crucial subjects of our day—the collapsing economy, the Federal Reserve, the Banks, Wall Street, financial fraud, foreclosures, homelessness, unemployment, workers rights, unions, trade agreements, etc. We scour the world to find and gather debates and presentations that are extremely informative and educational. Related subjects are also discussed. It provides key information for the uninitiated and the initiated alike.



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