,M&EL'S ,ECONOMICS 

,PEOPLE 3 

,AU?OR 3 ,PAUL ,MATTICK 

,TEXT 3 

,S\RCE3 ,5D,PAGE4COM2 
,FIR/ ,PUBLI%$3 ,PAUL ,MATTICK1 ,M&EL'S ,ECONOMICS3 ,ANO!R ,VIEW1 ,9T]NATIONAL ,SOCIALISM 7#a/ ,S]IES71 ,NO4#c#g1 ,JUNE_/,JULY #a#i#f#i1 PP4#c#e-#c#i2 
,TRANSCRIB$3 BY ,&Y ,BLUND51 = M>XI/S4ORG #b#c2 
,PRO(READ3 BY ,*RIS ,CLAYTON #b#f4 

,9 ! LA/ ISSUE ( ,9T]NATIONAL ,SOCIALISM WE PR9T$ A REVIEW ( ,M&EL'S BOOK.<#a.> BY ,MI*AEL ,KIDRON4 ,WE >E N[ PR9T+ ANO!R REVIEW ( ! SAME BOOK BY ! ,AM]ICAN ,M>XI/1 ,PAUL ,MATTICK2 WE DO ?IS BECAUSE WE ?9K ?AT IT WILL BE ( 9T]E/ TO \R READ]S1 NOT BECAUSE WE NECESS>ILY AGREE ) ALL ( :AT HE SAYS4 ,9 P>TICUL> WE DO NOT ACCEPT HIS VIEW ( ! RELATION%IP BETWE5 ,/AL9ISM & ,BOL%EVISM 7SEE1 = EXAMPLE1 ,TONY ,CLIFF3 ,RUSSIA4 ,A ,M>XI/ ,ANALYSIS & ,TROTSKY ON ,SUB/ITUTIONISM 9 ,I,S#b1 & ,*RIS ,H>MAN ,H[ ! ,REVOLUTION WAS ,LO/ 9 ,I,S#c74 

,?IS IS AN AMBITI\S BOOK ATTEMPT+1 AS IT DOES1 TO ELUCIDATE ,M>XI/ ECONOMIC !ORY )9 A FRAMEWORK ?AT REA*ES FROM PREHI/ORIC TIMES TO ! ANTICIPAT$ SOCIALI/ SOCIETY4 ,M&EL DEEMS ?IS COMPREH5SIVE PROC$URE NECESS>Y BECAUSE ( ! DIALECTICAL PROPOSITION ?AT ! LO/ SOCIAL COLLECTIVITY ( PRIMITIVE SOCIETY WILL MAKE ITS REAPPE>ANCE 9 ! SOCIALI/ FUTURE1 ALBEIT 9 A 'HI<] =M4' ,SOCIALI/ ATTITUDES PRESUPPOSE SOCIALISM2 ACCORD+ TO ,M&EL1 9DIVIDUALS MU/ HAVE ACQUIR$ EXP]I5CES ?AT SOCIETY HAS CEAS$ TO TREAT !M AS ,C9D]ELLAS & BECOME A G5]\S & UND]/&+ MO!R1 AUTOMATICALLY SATISFY+ ALL ! BASIC NE$S ( H] *ILDR54 ,?IS EXP]I5CE MU/ HAVE P5ETRAT$ 9TO ! UNCONSCI\SNESS ( 9DIVIDUALS1 !RE TO 5C\NT] ! E*OES FROM ! PRIMITIVE-COMMUNI/ PA/ :I* HAVE NEV] BE5 COMPLETELY BURI$ BY ! EFFECTS ( '#g1 YE>S ( EXPLOITATION ( MAN BY MAN4' .<#b.> ,AL?\< !SE 'E*OES ( ! PA/' >E A M]E ASS]TION1 IT IS QUITE CLE> ?AT M5 WILL TRANS=M !MSELVES BY *ANG+ !IR RELATIONS TO O!R M5 &1 !RE)1 ! CONDITIONS ( !IR EXI/5CE4 ,!RE IS NO NE$ TO EVOKE A 'COLLECTIVE UNCONSCI\SNESS' TO SUPPORT ! POSSIBILITY ( A SOCIALI/ CONSCI\SNESS4 ,9 ANY CASE1 ?IS HAS NO?+ TO DO ) ,M>XI/ ECONOMIC !ORY1 :I* RE/RICTS ITSELF TO A CRITIQUE ( POLITICAL1 OR B\RGEOIS1 ECONOMY & :I*1 9 ,M&EL'S VIEW1 TOO1 IS B\ND TO DISAPPE> ) ! DISAPPE>ANCE ( CAPITALI/ SOCIETY4 

,HI/ORICAL MAT]IALISM IS MORE & SOME?+ ELSE ?AN ECONOMIC !ORY4 ,:]EAS HI/ORICAL MAT]IALISM ELUCIDATES SOCIAL DEVELOPM5T AS SU*1 ECONOMIC !ORY DEALS ) ! SPECIFIC HI/ORICAL =M ?IS DEVELOPM5T ASSUMES 9 CAPITALISM4 ,! DIFF]5CE IS CL\D$ 9 ,M&EL'S EXPOSITION1 :I* ROAMS ALL OV] ! WORLD1 & ?R\< ALL HI/ORY1 9 AN ATTEMPT TO BR+ ,M>X'S ECONOMIC ANALYSIS UP-TO-DATE4 ,M&EL DOES SO1 H[EV]1 )\T 'QUOT+ ! SACR$ TEXTS4' ,AGA9/ ?AT1 HE SAYS1 'WE QUOTE ABUNDANTLY FROM ! *IEF ECONOMI/S1 ECONOMIC HI/ORIANS1 E?NOLOGI/S1 AN?ROPOLOGI/S1 SOCIOLOGI/S & PSY*OLOGI/S ( \R TIME1 9 SO F> AS !Y EXPRESS OP9IONS ON PH5OM5A RELAT+ TO ! ECONOMIC ACTIVITY1 PA/1 PRES5T & FUTURE1 ( HUMAN SOCIETIES4 ,:AT WE SEEK TO %[ IS ?AT IT IS POSSIBLE1 ON ! BASIS ( ! SCI5TIFIC DATA ( CONTEMPOR>Y SCI5CE1 TO RECON/ITUTE ! :OLE ECONOMIC SY/EM ( ,K>L ,M>X4' .<#c.> ,9 ?IS WAY1 ,M&EL WANTS TO DEMON/RATE ?AT ,M>X'S ECONOMIC TEA*+ ALL[S = A SYN!SIS ( ! TOTALITY ( HUMAN KN[L$GE4 .<#d.> ,HE REALIZES1 ( C\RSE1 ?AT ?IS IS QUITE A TASK & CLAIMS NO MORE ?AN TO HAVE M]ELY PRODUC$ A DRAFT ':I* CALLS = MANY CORRECTIONS & AN 9VITATION TO ! Y\NG] G5]ATIONS ( ,M>XI/S1 9 ,TOKYO & ,LIMA1 9 ,LONDON & ,BOMBAY1 & 7:Y NOT87 9 ,MOSC[1 ,NEW ,YORK1 ,PEK+ & ,P>IS1 TO CAT* ! BALL 9 FLI<T & C>RY TO COMPLETION BY TEAM WORK :AT AN 9DIVIDUAL'S EF=T CAN OBVI\SLY NO LONG] ACCOMPLI%4' .<#e.> 

,:AT ,M&EL WAS ABLE TO ACCOMPLI%1 H[EV]1 WAS TO READ MANY BOOKS & A LOT ( MORE-OR-LESS RELEVANT /ATI/ICS & ?US TO F9D ! MAT]IAL :I* 9 ONE FA%ION OR ANO!R VALIDATES HIS [N 9T]PRETATION ( ,M>XI/ !ORY4 ,AL?\< ?IS !ORY F9DS ILLU/RATIONS 9 MORE REC5T DATA IT REMA9S ESS5TIALLY ITS FAMILI> SELF4 ,!RE IS ! DIVISION ( LABOR 9TO NECESS>Y-LABOR & SURPLUS-LABOR1 ! EVOLUTION ( ! M>KET ECONOMY1 ! USE-VALUE & EX*ANGE-VALUE RELATIONS1 ! !ORY ( VALUE & SURPLUS-VALUE1 ! TRANS=MATION ( SURPLUS-VALUE 9TO CAPITAL1 ! ACCUMULATION PROCESS1 BO? PRIMITIVE & ADVANC$1 ! RIS+ ORGANIC COMPOSITION ( CAPITAL1 & ! V>I\S CONTRADICTIONS ( CAPITALISM :I* F9D !IR EXPRESSION 9 ITS SUSCEPTIBILITY TO CRISES & 9 ! T5D5TIAL FALL ( ! RATE ( PR(IT4 ,SPECIAL *APT]S DEAL ) TRADE1 CR$IT1 MONEY1 & AGRICULTURE4 ,FROM !RE ,M&EL PROCE$S TO MONOPOLY CAPITAL1 IMP]IALISM1 & TO ! PRES5T EPO* CONSID]$ AS ONE ( CAPITALI/ DECL9E4 ,! RE/ ( ! BOOK IS DEVOT$ TO ! PROBLEMS ( ! ,SOVIET ECONOMY1 ! TRANSITION FROM CAPITALISM TO SOCIALISM1 & TO SOCIALISM ITSELF4 ,UNLESS ONE WANTS TO H>P ON UNESS5TIALS1 ! L>G] P>T ( ,M&EL'S MORE DESCRIPTIVE ?AN !ORETICAL BOOK DOES NOT CALL = CRITICAL APPRAISAL4 ,9 FACT1 MO/ ( ! MAT]IAL PRES5T$ IS ( A NON-CONTROV]SIAL NATURE & SO WELL DONE AS TO B5EFIT ANYONE 9T]E/$ 9 SOCIAL HI/ORY & ! ECONOMIC PROBLEMS ( TODAY4 ,AT ANY RATE1 :AT IS ( SPECIAL 9T]E/ TO SOCIALI/S >E NOT SO MU* ! V>I\S ME*ANISMS ( ! CAPITALI/ M>KET ECONOMY1 SU* AS ! MONEY & CR$IT FUNCTIONS1 ! ROLE ( COMPETITION1 & SO =?1 BUT ! SY/EM'S HI/ORICAL B\ND>IES :I* >E ! RESULT ( ITS 9T]NAL CONTRADICTIONS4 ,! LATT] >E R$UCIBLE TO ! EXPLOITATIVE CAPITAL-LABOR RELATIONS & !RE) TO ! CONTRADICTIONS ( USE-VALUE & EX*ANGE-VALUE1 FROM :I* FOLL[ ALL O!R CONTRADICTIONS ?AT BESET CAPITALISM D[N TO ! FALL+ RATE ( PR(IT AS JU/ ANO!R EXPRESSION ( ! ACCUMULATION ( CAPITAL4 ,DISREG>D+ ALL PO9TS ( AGREEM5T1 WE WILL CAT* ,M&EL'S 'BALL 9 FLI<T' ONLY :]E WE DISAGREE ) HIS 9T]PRETATIONS ( ,M>XISM & ( PRES5T-DAY REALITY4 

,M>X 9T5D$ TO DISCOV] ! LAWS ( CAPITALI/ DEVELOPM5T4 ,JU/ AS CAPITALISM EM]G$ \T ( ANO!R SOCIAL SY/EM1 SO IT IS B\ND TO MAKE ROOM = A DIFF]5T ONE4 ,IT CANNOT P]SI/1 9 ,M>X'S VIEW1 BECAUSE ITS TRANS=MATION IS ALREADY 9DICAT$ BY ! OPPOS+ SOCIAL =CES OP]AT+ )9 IT1 & BECAUSE ( ITS [N DYNAMIC1 :I* WILL LEAD ?IS OPPOSITION TO ! PO9T ( SOCIAL REVOLUTION4 ,! G5]AL HI/ORICAL DEVELOPM5T HAS TO WORK ?R\< ! SPECIFIC CAPITALI/ PRODUCTION RELATIONS ) RESPECT TO BO? !IR REAL NATURE & !IR FETI%I/IC APPE>ANCES 9 ! CAPITALI/ M>KET & MONEY ECONOMY4 ,M>X'S ANALYSIS YIELD$ ! CONVICTION ?AT CAPITALI/ DEVELOPM5T1 AS ! ACCUMULATION ( CAPITAL1 HAS DEF9ITE LIMITS BEYOND :I* IT CEASES BE+ A PROGRESSIVE SOCIAL SY/EM4 ,ATTEMPTS TO MA9TA9 IT NONE!LESS W\LD F9D !IR REFLECTIONS 9 POLITICAL /RUGGLES :I* W\LD F9ALLY BR+ CAPITALISM TO ITS 5D4 

,9 ECONOMIC T]MS1 CAPITALI/ PRODUCTION IS ! PRODUCTION ( SURPLUS-VALUE1 ?AT IS1 ( UNPAID LABOR P[]4 ,CAPITAL =MATION IS ! ACCUMULATION ( SURPLUS-VALUE4 ,IT IMPLIES AN 9CREAS+ PRODUCTIVITY ( LABOR4 ,9 ! PROCESS ( ACCUMULATION1 LESS & LESS LABOR WILL BE EMPLOY$ RELATIVE TO ! GR[+ MASS ( CAPITAL4 ,?IS IS *>ACT]IZ$ BY ,M>X AS ! RIS+ 'ORGANIC COMPOSITION ( CAPITAL1' I4E41 MORE CAPITAL IS 9VE/$ 9 MEANS ( PRODUCTION1 OR CON/ANT CAPITAL1 ?AN 9 LABOR P[]1 OR V>IABLE CAPITAL4 ,BECAUSE ONLY V>IABLE CAPITAL YIELDS SURPLUS-VALUE1 :ILE ! RATE ( PR(IT IS MEASUR$ 9 TOTAL CAPITAL - V>IABLE & CON/ANT CAPITAL COMB9$ - ! RATE ( PR(IT MU/ FALL UNLESS ?IS FALL IS COMP5SAT$ = BY A RIS+ RATE ( EXPLOITATION1 OR SURPLUS-VALUE4 ,ACTUALLY1 SO LONG AS CAPITAL ACCUMULATES1 ! RIS+ ORGANIC COMPOSITION ( CAPITAL IMPLIES A GR[+ RATE ( SURPLUS-VALUE SO ?AT ! DECL9E ( ! RATE ( PR(IT EXI/S ONLY 9 LAT5T =M4 

,H[EV]1 = ,M>X AS WELL AS = ,M&EL1 'AN EQUIVAL5T 9CREASE ( ! RATE ( SURPLUS-VALUE & ( ! ORGANIC COMPOSITION ( CAPITAL IS 9 ! LONG RUN IMPOSSIBLE TO A*IEVE4' .<#f.> ,BUT ,M&EL'S REASONS = ?IS CAPITALI/ IMPASSE DIFF] FROM ?OSE ( ,M>X4 ,:]EAS ,M>X D]IVES !M FROM ! /RICT APPLICATION ( ! LABOR !ORY ( VALUE TO ! ACCUMULATION PROCESS1 ,M&EL ?9KS ?AT ') ! 9CREASE 9 ! PRODUCTIVITY ( LABOR !RE (T5 COMES AN EXT5SION ( WORK]S NE$S & A CORRESPOND+ 9CREASE 9 ! VALUE ( LABOR P[]1 :I* 9 TURN 5C\RAGES ! DEVELOPM5T ( ! LABOR MOVEM5T1 ?US RE/RICT+ ! GR[? 9 ! RATE ( SURPLUS-VALUE4' .<#g.> ,M&EL MI/AKES ! GR[? 9 REAL WAGES = 'GR[?' 9 ! VALUE ( LABOR P[]4 ,BUT REAL WAGES CAN RISE EV5 ) A 'DECL9E' 9 ! VALUE ( LABOR P[]1 &1 9 FACT1 G5]ALLY DO RISE 9 ?IS MANN]1 :I* IS TO SAY ?AT A GR[? 9 REAL WAGES PRESUPPOSES A /ILL FA/] 9CREASE 9 ! RATE ( SURPLUS-VALUE4 ,= ,M>X1 '! DIM9UTION ( UNPAID LABOR CAN NEV] REA* A PO9T AT :I* IT W\LD ?REAT5 ! SY/EM ITSELF 444 ,ACCUMULATION IS ! 9DEP5D5T1 NOT ! DEP5D5T1 V>IABLE2 ! RATE ( WAGES1 ! DEP5D5T1 NOT ! 9DEP5D5T V>IABLE4' .<#h.> ,M>X MAY BE WRONG1 ( C\RSE1 & ,M&EL RI<T1 BUT ?IS W\LD HAVE TO BE PROV5 EMPIRICALLY4 ,!RE IS NO SU* EVID5CE4 ,! V]Y FACT ( CAPITAL ACCUMULATION DESPITE 9CREAS+ WAGES 9DICATES AN 9CREASE 9 ! RATE ( SURPLUS-VALUE1 EV5 ?\< ?IS 9CREASE MAY NOT SUFFICE TO GU>ANTEE A RATE ( ACCUMULATION ?AT ASSURES CONDITIONS ( PROSP]ITY4 

,BECAUSE REAL WAGES HAVE RIS51 ,M&EL HOLDS ?AT ,M>X'S !ORY ( ACCUMULATION IS NOT A '!ORY ( IMPOV]I%M5T' & ?AT TO ASS]T ! CONTR>Y W\LD DISCR$IT ,M>XISM4 ,BY BE+ BAS$ ON ! LABOR !ORY ( VALUE1 ON ! ASSUMPTION1 ?AT IS1 ?AT LABOR ALWAYS RECEIVES ! VALUE ( ITS LABOR P[]1 I4E41 ITS REPRODUCTION CO/S1 !RE IS 9DE$ NO 9CREAS+ IMPOV]I%M5T AS REG>DS ! LABOR+ POPULATION4 ,BUT ?IS DOES NOT ALT] ! FACT1 AS ,M&EL HIMSELF PO9TS \T1 ?AT ! DECREAS+ NUMB] ( WORK]S RELATIVE TO ! GR[+ CAPITAL IMPLIES A GR[+ NUMB] ( UNEMPLOYABLES & !RE) AN 9CREAS+ PAUP]IZATION - NOT TO SPEAK ( ! 9CREAS+ MIS]Y 9 P]IODS ( DEPRESSION & ! 5ORMITIES ( CAPITALI/ W>F>E4 ,AS A WORLD-M>KET SY/EM1 MOREOV]1 CAPITALISM %>ES 9 ! RESPONSIBILITY = ! WORLD'S 9CREAS+ IMPOV]I%M5T4 ,AT A TIME :5 EV5 ! B\RGEOISIE HAS TO RECOGNIZE !SE FACTS1 IT IS RA!R /RANGE ?AT ,M>XI/S %\LD F9D IT NECESS>Y TO D5Y ?AT CAPITAL ACCUMULATION IS ALSO ! ACCUMULATION ( MIS]Y4 

,TO BE SURE1 ,M&EL IS NOT 9CL9$ TO M9IMIZE ! CONTRADICTIONS ( CAPITALISM4 ,HE SEEMS CONV9C$1 H[EV]1 ?AT PROLET>IAN IMPOV]I%M5T HAS BE5 SUCCESSFULLY =E/ALL$ BY WAY ( WAGE-/RUGGLES AT ! EXP5SE ( PR(ITS4 ',AT ! PEAK ( ! BOOM1' HE WRITES1 'IF FULL EMPLOYM5T IS ACTUALLY A*IEV$1 ! DEM& = LABOR GREATLY EXCE$S ! SUPPLY1 & ! WORK]S CAN BR+ PRESSURE TO BE> TO PU% WAGES UP1 ! R$UCTION 9 ! RATE ( PR(IT :I* RESULTS BE+ ONE ( ! CAUSES ( ! \TBREAK ( CRISIS4' .<#i.> ,ACTUALLY1 H[EV]1 AT P]IODS ( HI< PROSP]ITY PRICES RISE FA/] ?AN WAGES1 SO ?AT ! DECL9+ PR(ITABILITY CANNOT F9D A CAUSE 9 ! SUPPLY-&-DEM& RELATIONS ( ! LABOR M>KET4 ,AT ?IS PO9T1 ,M&EL SACRIFICES ,M>XI/ !ORY TO B\RGEOIS !ORY1 :I* NATURALLY WILL PUT ! BLAME = CRISIS ON HI< WAGES4 ,M>XISM DOES NOT D]IVE ITS CRISIS !ORY FROM SUPPLY-&-DEM& RELATIONS BUT FROM UND]LY+ *ANGES 9 ! ORGANIC COMPOSITION ( CAPITAL & ! *ANG+ PRODUCTIVITY ( LABOR4 

,M&EL'S :OLE CONC]N ) ,M>X'S LAW ( ! FALL+ RATE ( PR(IT WAS CLE>LY WA/$ AS F> AS HE HIMSELF IS CONC]N$1 = HE IS NOT ABLE TO BR+ IT 9 ANY MEAN+FUL CONNECTION ) ! CRISIS-CYCLE ( CAPITALI/ DEVELOPM5T4 ,HIS EXT5SIVE READ+S 9 CURR5T ECONOMIC !ORY1 P>TICUL>LY ! ,KEYNESIAN BR&1 HAS L$ HIM A/RAY1 = 9 ORD] TO UTILIZE ?IS MAT]IAL HE HAS (T5 TO VIOLATE ,M>X'S [N !ORIES4 ,! CAPITALI/ CRISIS1 ACCORD+ TO ,M&EL1 'IS DUE TO 9ADEQUACY NOT ( PRODUCTION OR PHYSICAL CAPACITY TO CONSUME1 BUT ( MONET>ILY EFFECTIVE DEM&4 ,A RELATIVE ABUNDANCE ( COMMODITIES F9DS NO EQUIVAL5T ON ! M>KET1 CANNOT REALIZE ITS EX*ANGE VALUE1 REMA9S UNSALEABLE1 & DRAGS ITS [N]S D[N TO RU94' .<#a.> ,AL?\< ,M&EL HOLDS ?AT ! 9CREASE 9 ! ORGANIC COMPOSITION ( CAPITAL & ! D[NW>D T5D5CY ( ! AV]AGE RATE ( PR(IT >E ! G5]AL LAWS ( DEVELOPM5T ( ! CAPITALI/ MODE ( PRODUCTION1 HE ALSO SAYS ?AT '!Y CREATE ! !ORETICAL POSSIBILITY ( G5]AL CRISIS ( OV]PRODUCTION1 IF AN 9T]VAL BETWE5 ! PRODUCTION & SALE ( COMMODITIES IS ASSUM$4' .<#a#a.> ,ACCORD+ TO ,M>X1 H[EV]1 ! CRISIS RESULTS FROM ! G5]AL LAWS ( CAPITALI/ DEVELOPM5T EV5 IF !RE W]E NO 9T]VAL BETWE5 ! PRODUCTION & SALE ( COMMODITIES4 ,IT IS NOT ! DIFFICULTY ( REALIZ+ SURPLUS-VALUE1 BUT ! RECURR5T DIFFICULTY ( PRODUC+ IT 9 SUFFICI5T MEASURE :I* BR+S AB\T CRISIS4 

,?IS IS NOT TO SAY ?AT !RE IS NO REALIZATION PROBLEM1 = ACTUALLY ! PRODUCTION & REALIZATION ( SURPLUS-VALUE HAVE TO GO H&-9-H&4 ,RA!R1 IT IS TO SAY ?AT ! F9AL S\RCE ( ALL CAPITALI/ DIFFICULTIES MU/ BE LOOK$ = 9 ! SPH]E ( PRODUCTION & NOT 9 ?AT ( ! M>KET1 EV5 ?\< ! PROBLEMS ( PR(IT PRODUCTION DO APPE> AS M>KET PROBLEMS4 ,) A SUFFICI5T PR(ITABILITY1 CAPITAL ACCUMULATES RAPIDLY & CREATES ITS [N M>KET 9 :I* SURPLUS-VALUE CAN BE REALIZ$2 ) AN 9SUFFICI5T PR(ITABILITY1 ! RATE ( ACCUMULATION SLACK5S1 OR DISAPPE>S ALTOGE!R1 & CONTRACTS ! M>KET1 ?US MAK+ ! REALIZATION ( SURPLUS-VALUE DIFFICULT4 ,! '9T]VAL' BETWE5 PRODUCTION & SALE IS BAS$ ON ! DIFF]5CE BETWE5 ! ACTUAL RATE ( PR(IT & ?AT RATE ( PR(IT :I* W\LD BE REQUIR$ = AN ACCEL]AT$ CAPITAL ACCUMULATION4 

,9 ,M>X'S !ORY1 ! CRISIS-CYCLE F9DS ITS EXPLANATION 9 A DISCREPANCY BETWE5 ! ORGANIC COMPOSITION ( CAPITAL & ! RATE ( PR(IT ASSOCIAT$ ) IT1 AS SOON AS ! LATT] PRECLUDES AN ACCEL]AT$ RATE ( ACCUMULATION4 ,! DILEMMA IS RESOLV$ BY AN 9CREASE 9 ! PRODUCTIVITY ( LABOR SUFFICI5T TO ALL[ = A FUR!R ACCUMULATION ( CAPITAL DESPITE ITS HI<] ORGANIC COMPOSITION4 ,S9CE ! CRISIS F9DS ITS S\RCE 9 ! SPH]E ( PRODUCTION1 IT IS 9 ?IS SPH]E1 TOO1 ?AT IT IS OV]COME4 ,ALL ! CRISIS ELEM5TS APPE>+ 9 ! M>KET MU/ BE TRAC$ BACK TO ?IS BASIC CRISIS SITUATION 9 ! SPH]E ( PRODUCTION4 

,! MORE DEEPLY ?AT ,M&EL 9VOLVES HIMSELF ) ! PH5OM5A ( CRISIS1 ! MORE OBSCURE BECOMES HIS EXPOSITION4 ,:ILE HE IS CORRECT 9 9SI/+ ?AT 'CAPITALI/ PRODUCTION = PR(IT' & ?AT '! V>IATIONS 9 ! AV]AGE RATE ( PR(IT >E ! DECISIVE CRIT]IA ( ! ACTUAL CONDITIONS ( CAPITALI/ ECONOMY'.<#a#b.>1 & :ILE TO HIM '! CYCLICAL MOVEM5T ( CAPITAL IS NO?+ BUT ! ME*ANISM ?R\< :I* ! T5D5CY ( ! AV]AGE RATE ( PR(IT TO FALL IS REALIZ$1' .<#a#c.> ! CRISIS REMA9S = HIM NEV]!LESS A CRISIS ( OV]PRODUCTION1 DUE MA9LY TO DISPROPORTIONALITIES BETWE5 ! TWO GREAT SECTORS ( PRODUCTION1 IE1 ! PRODUCTION ( CAPITAL GOODS & ( CONSUMPTION GOODS4 ',! P]IODICAL OCCURR5CE ( CRISIS1' ,M&EL WRITES1 'IS TO BE EXPLA9$ ONLY BY ! P]IODICAL BREAK 9 ! PROPORTIONALITY 7( ! TWO SECTORS ( PRODUCTION7 OR1 9 O!R WORDS1 BY AN UNEV5 DEVELOPM5T ( !SE TWO SECTORS4' .<#a#d.> ,AL?\< ,M&EL KN[S ALL AB\T ! COMPETITIVE EQUALIZATION ( PR(IT RATES1 HE L9KS '! P]IODICAL DISPROPORTION BETWE5 ! DEVELOPM5T ( ! CAPITAL GOODS SECTOR & ?AT ( ! CONSUM] GOODS SECTOR ) ! P]IODICAL DIFF]5CE BETWE5 ! RATES ( PR(IT 9 ! TWO SECTORS4' .<#a#e.> ,9 A GREAT EF=T TO CONCRETICIZE ,M>X'S AB/RACT CRISIS !ORY1 ,M&EL F9ALLY ACCEPTS 9 SOME MEASURE ELEM5TS ( ALMO/ ALL EXI/+ CRISIS !ORIES1 ,M>XI/ OR O!R1 & EV5 SPURI\S CONCEPTS SU* AS '! MULTIPLI]' & '! ACCEL]ATION PR9CIPLE1' :ILE AT ! SAME TIME B]AT+ !IR AU?ORS = !IR FAILURE TO CONSID] ! FACTOR ( ! 'UNEV5 DEVELOPM5T ( DIFF]5T SECTORS1 BRAN*ES & C\NTRIES DRAWN 9 ! CAPITALI/ M>KET1' .<#a#f.> :I*1 TO HIS M9D1 IS NOT ONLY 'A UNIV]SAL LAW ( HUMAN HI/ORY'.<#a#g.>1 BUT ALSO ! KEY TO ! PROP] UND]/&+ ( ! CAPITALI/ CRISIS ME*ANISM4 ,9/EAD ( LEAD+1 H[EV]1 TO A SYN!SIS ( ALL ! P>TIAL KN[L$GE HI!RTO EVOLV$ ) RESPECT TO ! CRISIS-CYCLE1 ,M&EL'S 5DEAVOR LEADS ONLY TO AN AMALGAM ( CONTRADICTORY IDEAS :I* >E1 AT TIMES1 H>DLY COMPREH5SIBLE4 ,9 CONTRA/ TO ,M&EL'S 9T]PRETATION ( ,M>X'S !ORIES1 HIS *APT]S ON MONOPOLY CAPITAL1 IMP]IALISM1 & ! DECL9E ( CAPITALISM >E CLE> & CONCISE1 & IF !Y >E DISAPPO9T+ IT IS ONLY BECAUSE !Y DES]VE MORE ( A !ORETICAL BACKGR\ND4 ,! FACTS PRES5T$ SPEAK = !MSELVES1 ( C\RSE1 YET !Y W\LD BE EV5 MORE ELOQU5T IF !Y W]E BR\<T 9 CLOS] CONTACT ) ,M>XIAN !ORY1 :I* MAKES IT CLE> ?AT MONOPOLY & IMP]IALISM >E NOT CAPITALI/ AB]RATIONS BUT ! 9EVITABLE CONSEQU5CES ( CAPITAL PRODUCTION4 ,! MAT]IAL H]E TELLS ! FAMILI> /ORY ( CAPITALI/ CONC5TRATION & C5TRALIZATION ON A NATIONAL & 9T]NATIONAL SCALE & RELAT$ /ATE 9T]V5TIONS 9 ! ECONOMY4 ,:AT APPE>S TO SOME AS A FUR!R EXPANSION & EXT5SION ( CAPITALISM1 & AS ! CONSOLIDATION ( ! SY/EM ?R\< A DIRECT M]G] ( BUS9ESS & GOV]NM5T1 SEEMS TO ,M&EL SUFFICI5T PRO( ?AT CAPITALISM F9DS ITSELF 9 A /ATE ( DECL9E1 BECAUSE '! 9CREAS+ PRACTICE ( 9T]V5TION 9 ! ECONOMY BY ! /ATE IS AN 9VOLUNT>Y HOMAGE R5D]$ TO SOCIALISM BY CAPITALISM4' .<#a#h.> 

,M&EL PO9TS \T1 ( C\RSE1 ?AT /ATE 9T]V5TIONS OP]ATE )9 ! FRAMEWORK ( CAPITALISM 9 ORD] TO CONSOLIDATE CAPITALI/ PR(IT2 YET1 !Y HAVE AT ! SAME TIME1 ! LONG-T]M EFFECT ( UND]M9+ ! F\NDATIONS ( ! REGIME4 ,BECAUSE IT IS LESS & LESS POSSIBLE TO MAKE PR(ITABLE USE ( ALL CAPITAL1 ,M&EL WRITES1 '! B\RGEOIS /ATE BECOMES ! ESS5TIAL GU>ANTOR ( MONOPOLY PR(ITS1' .<#a#i.> :I* 9VOLVES ! 'TRANSF] TO PRIVATE TRU/S ( PUBLIC PROP]TY1' .<#b.> & ! 'GR[+ IMPORTANCE ( >MAM5TS & A W> ECONOMY1' .<#b#a.> AS A SUB/ITUTE 'M>KET'2 A PROCESS :I*1 IF 'C>RI$ TO ITS LOGICAL CONCLUSION NECESS>ILY IMPLIES A PROCESS ( CONTRACT$ REPRODUCTION4' .<#b#b.> ,IF NOT C>RI$ ?AT F>1 H[EV]1 '/ATE CONTRACTS /IMULATE PRODUCTION & EXPANSION ( PRODUCTIVE CAPACITY NOT ONLY 9 ! DIRECTLY 0MILIT>IZ$0 SECTORS1 BUT ALSO 9 ! RAW MAT]IAL SECTORS1 & EV51 ?R\< ! 9CREASE 9 G5]AL DEM& ?US CREAT$1 9 ! CONSUM] GOODS SECTORS4 ,SO LONG AS !RE >E UNUS$ RES\RCES 9 SOCIETY1 ?IS 0/IMULANT0 WILL T5D TO 5SURE FULL EMPLOYM5T ( !M1 :ILE 9 ! LONG RUN UND]M9+ ! /ABILITY ( ! CURR5CY4' .<#b#c.> 

,?IS IS UND\BT$LY TRUE1 REG>DLESS ( :E!R OR NOT !RE >E UNUS$ RES\RCES4 ,! 'UNUS$ RES\RCES' 9 CAPITALISM1 ?AT IS1 CON/ANT & V>IABLE CAPITAL1 >E CAPITALI/ PROP]TY & WILL BE SET 9 MOTION ONLY :5 PR(ITS >E PROMIS$ & CAPITAL IS AUGM5T$4 ',PUBLIC CONSUMPTION1' I4E41 PUBLIC WORKS1 >MAM5TS1 & W>1 SUBTRACT FROM ! AVAILABLE SURPLUS-VALUE DE/9$ TO BE TURN$ 9TO ADDITIONAL1 SURPLUS-VALUE-PRODUC+ CAPITAL4 ,A PROGRESSIVELY 9CREAS+ NON-PR(ITABLE PRODUCTION IMPLIES A DECL9+ RATE ( ACCUMULATION & EV5TUALLY ITS DEMISE1 ?US DE/ROY+ ! RATIONALE ( CAPITALI/ PRODUCTION4 ,9 SO F> AS IT IS NOT EXTRACT$ FROM ! MASS ( ! POPULATION BY WAY ( 9FLATION1 ! EXP5SE ( 'PUBLIC CONSUMPTION' PILES UP 9 ! NATIONAL DEBT = :I* !RE IS NO PR(IT-C\NT]P>T4 ,JU/ AS ! 5L>G$ 'M>KET' IS A PSEUDO-M>KET1 SO ! PROSP]ITY RELEAS$ BY IT IS A PSEUDO-PROSP]ITY1 :I* CAN PO/PONE1 BUT NOT PREV5T1 ! RETURN ( CRISIS CONDITIONS4 ,! POLICY'S APPLICABILITY IS LIMIT$1 SO ?AT EV5 UND] CONDITIONS ( GOV]NM5T-9DUC$ PRODUCTION1 UNUS$ RES\RCES >E B\ND TO GR[4 

,AN 5L>G$ PRODUCTION IS NO AID TO CAPITALISM4 ,:AT IT NE$S IS A L>G] PRODUCTION ( PR(ITS TO C\NT]ACT ! T5D5CY ( ! RATE ( PR(IT TO FALL4 ,9 DEAL+ ) ! MIX$ ECONOMY1 ,M&EL =GETS HIS ,M>XI/ LE>N+ ALTOGE!R1 & HIS EXPOSITION BECOMES SELF-CONTRADICTORY4 ,:ILE PO9T+ \T ?AT /ATE 9T]V5TIONS >E NECESS>Y TO 5SURE ! PR(ITABILITY ( ! MONOPOLIES1 HE ASS]TS1 AT ! SAME TIME1 ?AT 'TRU/S NO LONG] SUFF] FROM A %ORTAGE ( CAPITAL BUT RA!R FROM AN EXCESS ( IT1' .<#b#d.> & ?AT ?IS 'OV]-CAPITALIZATION' IS DUE TO 'MONOPOLY SUP]-PR(ITS1' .<#b#e.> :I* F9D NO \TLET 9 NEW 9VE/M5TS4 ,BUT IF !RE >E SU* 'SUP]-PR(ITS1' :Y %\LD ! MONOPOLIES REQUIRE GOV]NM5T SUPPORT TO 5ABLE !M TO PRODUCE PR(ITABLY8 ,OBVI\SLY1 IF !Y >E HAV+ DIFFICULTIES F9D+ PR(ITABLE 9VE/M5T OPPORTUNITIES1 !SE DIFFICULTIES CANNOT BE ALLEVIAT$ ?R\< NON-PR(ITABLE GOV]NM5T-9DUC$ PRODUCTION4 ,IT IS PRECISELY BECAUSE ( ! FACT ( 9SUFFICI5T PR(ITABILITY1 RELATIVE TO ! EXI/+ CAPITAL1 ?AT 9VE/M5TS TAP] (F & ?US REQUIRE GOV]NM5T-9DUC$ PRODUCTION TO =E/ALL ECONOMIC CRISIS4 

,H[EV]1 ,M&EL MI/AKES ! LACK ( PRIVATE 9VE/M5TS1 DUE TO A DEFICI5T PR(ITABILITY1 = AN 'ABUNDANCE' ( CAPITAL RELATIVE TO ! 'EFFECTIVE DEM&1' & HOLDS ) ! ,KEYNESIANS ?AT GOV]NM5T-9DUC$ 'EFFECTIVE DEM&' ACTS AS A '/ABILIZ]' ( ! ECONOMY4 ',FREQU5TLY1' HE WRITES1 'EXP&$ REPRODUCTION MAY EV5 CONT9UE 9 ALL SECTORS1 ON CONDITION ?AT ! RATE ( EXPANSION IS /ABLE OR DECL9+1 ?AT IS1 ?AT ! >MAM5TS SECTOR ABSORBS ! BULK OR ! :OLE ( ! ADDITIONAL RES\RCES AVAILABLE 9 ! ECONOMY4' .<#b#f.> ,/ABILITY IS ASSUR$1 9 HIS M9D1 ?R\< A LIMITATION ( CAPITAL ACCUMULATION & NOT ?R\< ITS RESUMPTION & ACCEL]ATION4 ,9 ?IS WAY1 HE SAYS1 '! CAPITALI/ ECONOMY T5DS TO 5SURE GREAT] /ABILITY BO? ( CONSUMPTION & ( 9VE/M5TS ?AN 9 ! ]A ( FREE COMPETITION1 OR ?AN DUR+ ! FIR/ PHASE ( MONOPOLY CAPITALISM2 IT T5DS T[>D A R$UCTION 9 CYCLICAL FLUCTUATIONS1 RESULT+ ABOVE ALL FROM ! 9CREAS+ 9T]V5TION ( ! /ATE 9 ECONOMIC LIFE4' .<#b#g.> 

,TO DESCRIBE ?IS /ATE ( BLISS BY WAY ( GOV]NM5T 9T]V5TIONS & >MS PRODUCTION AS AN 'EPO* ( CAPITALI/ DECL9E1' IS UND]/&ABLE ONLY ON ! BASIS ( ,M&EL'S ASSUMPTION ?AT ! 5L>GEM5T ( ! GOV]NM5T-9DUC$ SECTOR ( ! ECONOMY IS A /EP T[>DS SOCIALISM - SE5 AS A /ATE-CONTROLL$ ECONOMY4 ,9 ?IS RESPECT1 ( C\RSE1 GOV]NM5T [N]%IP W\LD BE EV5 BETT] ?AN GOV]NM5T CONTROL & ,M&EL DOES NOT FAIL TO PO9T \T '?AT NATIONALIZATION ( SECTORS ( 9DU/RY 444 CAN CON/ITUTE A V]ITABLE S*OOL ( COLLECTIVE ECONOMY1 PROVID$ ?AT ! COMP5SATION PAYM5TS TO CAPITAL >E R$UC$ OR CANCEL$1 ?AT IT IS NOT LIMIT$ TO SECTORS RUN AT A DEFICIT1 ?AT ! REPRES5TATIVES ( PRIVATE CAPITAL >E REMOV$ FROM ! MANAGEM5T1 ?AT WORK]S' P>TICIPATION 9 ! MANAGEM5T IS 5SUR$1 OR ?AT ?IS MANAGEM5T IS SUBJECT TO DEMOCRATIC WORK]S' CONTROL1 & ?AT ! NATIONALIZ$ SECTORS >E US$ BY A WORK]S' GOV]NM5T = ! PURPOSE ( ALL-R\ND PLANN+1 ESPECIALLY TO A*IEVE C]TA9 OBJECTIVES ( HI< PRIORITY1 EI!R SOCIAL OR ECONOMIC4' .<#b#h.> ,9 VIEW ( ! RELATIVE /ABILITY A*IEV$ BY /ATE 9T]V5TIONS1 ,M&EL =ESEES A *ANGE ( OBJECTIVES = ! PROLET>IAN CLASS /RUGGLE4 ',SOCIALLY & POLITICALLY1' HE WRITES1 '! P]IOD ( CAPITALI/ DECL9E $UCATES ! WORK+ CLASS TO 9T]E/ ITSELF 9 ! MANAGEM5T ( 5T]PRISES & ! REGULATION ( ! ECONOMY AS A :OLE1 JU/ AS 0FREE COMPETITION0 CAPITALISM $UCAT$ ! WORK+ CLASS TO 9T]E/ ITSELF 9 ! DIVISION ( SOCIAL 9COME BETWE5 PR(ITS & WAGES4' .<#b#i.> 

,WORK]S' CONTROL ( PRODUCTION PRESUPPOSES A SOCIAL REVOLUTION4 ,IT CANNOT GRADUALLY BE A*IEV$ UND] ! AUSPICES ( A WORK]S' GOV]NM5T :I* 'NATIONALIZES SECTORS ( ! ECONOMY' - NOT TO SPEAK ( ! IMPOSSIBILITY ( 'ALL-R\ND PLANN+' 9 A P>TLY NATIONALIZ$ & P>TLY PRIVATE-5T]PRISE ECONOMY4 ,TO BE SURE4 ,M&EL IS NOT OPPOS$ TO SOCIAL REVOLUTION2 YET1 ALREADY BE=E ITS OCCURR5CE1 HE 5VISIONS ITS RESULT AS A MANAG$ ECONOMY ) 'WORK]S' P>TICIPATION1' NOT AS AN ECONOMY MANAG$ BY ! PRODUC]S !MSELVES4 ,?IS BR+S US TO ! LA/ P>TS ( ! BOOK1 DEAL+ ) SOCIALISM & ! ,SOVIET ECONOMY4 

,ACCORD+ TO ,M&EL1 ALL ! CONTRADICTIONS ( ! CAPITALI/ MODE ( PRODUCTION 'CAN BE SUMM$ UP1 9 ONE G5]AL & FUNDAM5TAL CONTRADICTIONS1 ?AT BETWE5 ! EFFECTIVE SOCIALIZATION ( PRODUCTION & ! PRIVATE1 CAPITALI/ =M ( APPROPRIATION4' .<#c.> ,! LATT] IS A CONSEQU5CE ( ! PRIVATE [N]%IP ( ! MEANS ( PRODUCTION4 ,CAPITALISM EVOLV$ AS A SY/EM ( PRIVATE [N]%IP ( ! MEANS ( PRODUCTION 9 A M>KET ECONOMY :I* F9DS A K9D ( BL9D 'REGULATION' ?R\< VALUE RELATIONS :I* DOM9ATE ! EX*ANGE PROCESS4 ,REC5T HI/ORY HAS %[N ?AT CAPITALI/ RELATIONS ( PRODUCTION CAN EXI/ )\T PRIVATE [N]%IP ( ! MEANS ( PRODUCTION & ?AT1 ) REG>D TO ! WORK+ CLASSES1 A C5TRALLY-DET]M9$ APPROPRIATION ( SURPLUS-LABOR BY GOV]NM5T WILL NOT LEAD TO A 'SOCIALI/ APPROPRIATION' ( ! PRODUCTS ( LABOR4 ,9 BO? SY/EMS1 ( C\RSE1 !RE IS 'EFFECTIVE SOCIALIZATION ( PRODUCTION' DUE TO ! DIVISION ( LABOR4 ,BUT SOCIALIZATION ( PRODUCTION 9 ! ,M>XIAN S5SE IMPLIES ?AT ! MEANS ( PRODUCTION >E NO LONG] SEP>AT$ FROM ! PRODUC]S1 SO ?AT ! LATT] MAY !MSELVES DET]M9E H[ TO EMPLOY !IR LABOR & H[ TO DISPOSE ( !IR PRODUCTS4 ,IF !Y CONT9UE TO BE SEP>AT$ FROM ! MEANS ( PRODUCTION1 ?AT IS1 IF ! CONTROL ( ! LATT] REMA9S ! PRIVILEGE ( A SEP>ATE SOCIAL GR\P ORGANIZ$ AS ! /ATE1 ! SOCIAL RELATIONS ( PRODUCTION - CONT9UE TO BE CAPITALI/ RELATIONS ( PRODUCTION1 EV5 ?\< 9DIVIDUAL CAPITALI/S NO LONG] EXI/4 ,ON ?IS PO9T1 ,M&EL MISSES A *ANCE TO BR+ ,M>XISM 'UP-TO-DATE4' ,HE /ILL 9SI/S ?AT CAPITALISM CAN MEAN NO?+ O!R ?AN PRIVATE-5T]PRISE CAPITALISM1 & :]E IT NO LONG] PREVAILS1 !RE WILL NOT BE AS YET SOCIALISM BUT A TRANSITION TO SOCIALISM4 ,HE IS NOT ALWAYS CONSI/5T1 H[EV]2 FREQU5TLY HE REF]S TO 'SOCIALI/ C\NTRIES' AS IF !Y W]E ALREADY A REALITY1 :ILE1 AT O!R TIMES1 & P>TICUL>LY ) RESPECT TO ,RUSSIA1 HE SEES SOCIALISM AS ONLY 9 PROGRESS & /ILL T>NI%$ BY REMNANTS ( ! CAPITALI/ PA/4 ,/ILL1 = HIM1 '! ,SOVIET ECONOMY DOES NOT DISPLAY ANY ( ! FUNDAM5TAL ASPECTS ( CAPITALI/ ECONOMY1' .<#c#a.> IT IS M]ELY M>K$ 'BY ! CONTRADICTORY COMB9ATION ( A NON-CAPITALI/ MODE ( PRODUCTION & A /ILL BASICALLY B\RGEOIS MODE ( DI/RIBUTION4' .<#c#b.> 

,ACCORD+ TO ,M>X1 ! RELATIONS ( PRODUCTION DET]M9E ?OSE ( ! DI/RIBUTION ( BO? LABOR & ITS PRODUCTS4 ,A B\RGEOIS MODE ( DI/RIBUTION C\LD NOT EXI/ )\T A SIMIL> MODE ( PRODUCTION4 ,!RE >E1 ( C\RSE1 DIFF]5CES BETWE5 PRIVATE-5T]PRISE CAPITALISM & /ATE-CAPITALISM1 BUT !Y RELATE TO ! RUL+ CLASS1 NOT TO ! RUL$1 :I* F9DS ITSELF 9 AN ID5TICAL SOCIAL POSITION 9 BO? SY/EMS4 ,TO A CAPITALI/1 /ATE-CAPITALISM MAY 9DE$ APPE> AS 'SOCIALISM' = IT DOES DEPRIVE HIM ( HIS CU/OM>Y PRIVILEGES1 BUT TO ! WORK]S ?IS 'SOCIALISM' M]ELY SIGNIFIES A DIFF]5T SET ( EXPLOIT]S4 ,TO ! NEW RUL]S1 ! SY/EM IS ( C\RSE DIFF]5T FROM CAPITALISM SIMPLY BY ! FACT ( !IR [N EXI/5CE & ! ECONOMIC & 9/ITUTIONAL *ANGES WR\<T TO CONSOLIDATE !IR NEW POSITION4 ,/ATE-CAPITALISM SEEMS ! MO/ APPROPRIATE DESIGNATION = ?IS SY/EM1 & IF ,M&EL OBJECTS TO IT1 HE MU/ BE REM9D$ ?AT ,L59 & ! OLD ,BOL%EVIKS REF]R$ TO ,RUSSIA 9 !SE T]MS4 ,9 !IR VIEWS1 /ATE-CAPITALISM WAS SUP]IOR TO CAPITALI/ MONOPOLY-CAPITAL & = ?AT REASON CLOSET TO A SOCIALI/ FUTURE4 ,ONLY LAT] WAS ?IS WRONGLY-PRESUM$ 'TRANSITION TO SOCIALISM' FALSIFI$ AS SOCIALISM ITSELF4 

,IT %\LD BE CLE> ON !ORETICAL GR\NDS1 AS WELL AS BY FIFTY YE>S ( ,BOL%EVISM1 ?AT /ATE-CAPITALISM IS NOT A ROAD TO SOCIALISM4 ,IT MAY BE CONSID]$ AS SU* ONLY ON ! FALSE1 NON-,M>XI/ ASSUMPTION ?AT ITS NEW RUL+ CLASS 7OR CA/E1 ACCORD+ TO ,M&EL7 WILL ( ITS [N ACCORD1 & BY A S]IES ( 'REVOLUTIONS FROM ABOVE1' ELIM9ATE ITS [N PRIVILEGES & !RE) ! 'BASICALLY B\RGEOIS MODE ( DI/RIBUTION' 9 FAVOR ( A =M ( APPROPRIATION MORE AK9 TO ITS 'NON-CAPITALI/ MODE ( PRODUCTION4' ,BECAUSE ! ,BOL%EVIK RUL]S FAIL$ TO DO SO1 ,M&EL MA9TA9S ?AT !Y HAVE 'BETRAY$' SOCIALISM & ! WORK+ CLASS1 HAVE CEAS$ BE+ REAL COMMUNI/S1 & %\LD BE REPLAC$ BY MORE CONSI/5T REVOLUTION>IES4 ,!RE MU/ ALSO BE A MORE EFFICI5T SY/EM ( 'WORK]S' CONTROL' TO PREV5T ! EXCESSIVE GR[? ( ! BUREAUCRACY & TO LIMIT ITS P[]S4 ,9 ,RUSSIA1 ,M&EL EXPLA9S1 'MANAGEM5T WAS 9CREAS+LY C>RI$ ON BY A BUREAUCRATIC APP>ATUS1 AT FIR/ ?R\< A SORT ( DELEGATION ( P[]1 LAT] MORE & MORE BY USURPATION4 ,! ,BOL%EVIK ,P>TY DID NOT UND]/& 9 GOOD TIME ! S]I\SNESS ( ?IS PROBLEM1 DESPITE ! MANY W>N+S S\ND$ BY ,L59 & BY ! ,LEFT ,OPPOSITION4' .<#c#c.> 

,:5 ,M&EL SPEAKS ( ,RUSSIA'S BUREAUCRATIC DI/ORTIONS & ! /ATE'S BRUTAL1 >BITR>Y1 & T]RORI/IC ME?ODS ( RULE & EXPLOITATION1 HE BLAMES !M NOT ON ,BOL%EVISM & ITS CONCEPT ( AU?ORIT>IAN P>TY-RULE1 BUT ON ,/AL9ISM & ! ,RUSSIAN WORK+ CLASS ITSELF1 ':I* BEGAN TO %[ LESS & LESS 9T]E/ 9 DIRECT MANAGEM5T ( ! /ATE & ! ECONOMY4' .<#c#d.> ,HE TRIES TO MAKE BELIEVE ?AT HE IS UNAW>E ( ! FACT ?AT IT WAS ! ,BOL%EVIK ,P>TY UND] ,L59 & ,TROTSKY :I* DEPRIV$ ! WORK+ CLASS ( BO? CONTROL & MANAGEM5T ( PRODUCTION1 & REPLAC$ ! RULE ( ! SOVIETS BY ?AT ( ! P>TY & ! /ATE4 ,ALL ! T]RORI/IC 9NOVATIONS ASSOCIAT$ ) ! ,/AL9I/ REGIME1 9CLUD+ =C$-LABOR & CONC5TRATION CAMPS1 HAD BE5 9ITIAT$ UND] ,L59'S LEAD]%IP4 ,9 HIS WIDE READ+1 ,M&EL CANNOT HAVE FAIL$ TO NOTE ! ,BOL%EVIK ,REVOLUTION'S E>LY HI/ORY D[N TO ,L59'S DEA?1 & HE MU/ ?US BE AW>E ( ! DICTATORIAL & T]RORI/IC ME?ODS EMPLOY$ AT ?AT TIME AGA9/ BO? ! B\RGEOISIE & ! WORK+ CLASS4 ,TO RE/RICT ,RUSSIA'S DILEMMA TO ITS ,/AL9I/ P]IOD CAN ONLY BE REG>D$ AS A FALSIFICATION ( HI/ORY4 

,:AT IS ( GREAT] SIGNIFICANCE1 H[EV]1 IS ?AT ,M&EL EV5 N[ REG>DS ! ,BOL%EVIK ,REVOLUTION AS AN EXAMPLE ( A WORK+-CLASS REVOLUTION :I* C\LD HAVE BE5 PREV5T$ FROM GO+ A/RAY BY A BETT] LEAD]%IP ?AN ?AT :I* FOLL[$ 9 ,L59'S WAKE4 ,HE CANNOT CONCEIVE ( FUTURE SOCIALI/ REVOLUTIONS EXCEPT 9 T]MS ( ! ,BOL%EVIK ,REVOLUTION4 ,& HE ASSUMES ?AT ! PROBLEMS ( SOCIALISM WILL EV]Y:]E BE SIMIL> TO ?OSE 5C\NT]$ 9 ,RUSSIA4 ',! CONTRADICTION BETWE5 ! NON-CAPITALI/ MODE ( PRODUCTION & ! B\RGEOIS NORMS ( DI/RIBUTION1' HE WRITES1 'IS ! FUNDAM5TAL CONTRADICTION ( EV]Y SOCIETY TRANSITIONAL BETWE5 CAPITALISM & SOCIALISM4' .<#c#e.> ,& ?IS IS SO1 BECAUSE 'A %ORTAGE ( USE-VALUE PROLONGS ! LIFE ( EX*ANGE-VALUE1' .<#c#f.> = :I* REASON COMMODITY PRODUCTION CANNOT BE ABOLI%$ BUT CAN ONLY 'WI!R AWAY' ?R\< ! GR[+ MA/]Y ( 'SC>CITY4' ,!RE=E1 ! ECONOMIC CATEGORIES ( CAPITALI/ ECONOMY1 VALUE1 PRICE1 PR(IT1 WAGES1 MONEY1 ETC41 WILL HAVE TO BE RETA9$ TO BE UTILIZ$ 9 A 'PLANN$ ECONOMY' :I* 'MU/ MAKE FULL USE ( ! M>KET1 )\T YIELD+ PASSIVELY TO IT4 ,IT MU/1 IF IT CAN1 GUIDE ! M>KET BY MEANS ( 9C5TIVES1 IT MU/1 IF NE$ BE1 CO]CE ! M>KET BY MEANS ( 9JUNCTIONS1 EV]Y TIME ?IS IS REQUIR$ = ! REALIZATION ( ITS PRIM>Y AIMS1 AS FREELY DECID$ BY ! WORK+-PEOPLE4' .<#c#g.> ,! EVOLUTION ( ! WORK]S' DECISION+-P[] WILL BE *>ACT]IZ$ BY A *ANGE FROM 'WORK]S' CONTROL1' I4E41 SUP]VISION ( ! MANAGEM5T BY ! WORK]S1 TO 'WORK]S' P>TICIPATION' 9 MANAGEM5T1 &1 F9ALLY1 TO 'WORK]S' SELF-MANAGEM5T' .<#c#h.> 9 ! COMPLET$ SOCIALI/ SOCIETY4 

,& ?US1 ! 5D BE+ WELL1 ALL IS WELL4 ,:ATEV] ONE MAY ?9K ( ?IS FA%IONABLE & SILLY TALK REG>D+ ! WORK+ CLASS & SOCIALISM1 IT HAS NO?+ :ATEV] TO DO ) ,M>XI/ ECONOMIC !ORY4 

,NOTES 

#a4 ,M>XI/ ,ECONOMIC ,!ORY4 ,E4 ,M&EL4 ,! ,M]L9 ,PRESS1 ,LONDON1 #a#i#f#h4 #b VOLS4 PP4#g#i#g4 #dGNS4 

#b4 ,IBID41 P4#f#e#f4 

#c4 ,IBID41 P4#a#g4 

#d4 ,IBID41 P4#d4 

#e4 ,IBID41 P4#b4 

#f4 ,IBID41 P4#a#f#g4 

#g4 ,IBID41 P4#a#f#g4 

#h4 ,CAPITAL1 ,VOL4#a1 P4#f#g#i4 

#i4 ,OP4 CIT41 ,E4 ,M&EL1 P4#a#d#d4 

#a4 ,IBID41 P4#c#d#c4 

#a#a4 ,IBID41 P4#c#d#f4 

#a#b4 ,IBID41 P4#c#d#f4 

#a#c4 ,IBID41 P4#c#d#i4 

#a#d4 ,IBID41 P4#c#d#i4 

#a#e4 ,IBID41 P4#c#e4 

#a#f4 ,IBID41 P4#c#g#a4 

#a#g4 ,IBID41 P4#i#a4 

#a#h4 ,IBID41 P4#e#d#a4 

#a#i4 ,IBID41 P4#e#b4 

#b4 ,IBID41 P4#e#c4 

#b#a4 ,IBID41 P4#e#b#a4 

#b#b4 ,IBID41 P4#e#b#d4 

#b#c4 ,IBID41 P4#e#c#d4 

#b#d4 ,IBID41 P4#e#a#b4 

#b#e4 ,IBID41 P4#e#a#g4 

#b#f4 ,IBID41 P4#e#b#e4 

#b#g4 ,IBID41 P4#e#b#i4 

#b#h4 ,IBID41 P4#e#c4 

#b#i4 ,IBID41 P4#e#c#f4 

#c4 ,IBID41 P4#a#g4 

#c#a4 ,IBID41 P4#e#f4 

#c#b4 ,IBID41 P4#e#f#e4 

#c#c4 ,IBID41 P4#e#g#b4 

#c#d4 ,IBID41 P4#e#g#b4 

#c#e4 ,IBID41 P4#e#g#b4 

#c#f4 ,IBID41 P4#e#f#g4 

#c#g4 ,IBID41 P4#f#c#f4 

#c#h4 ,IBID41 P4#f#d#d4 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #b1 #bba 3 ,M&EL'S ,ECONOMICS -- ,ADD$4 
,JANU>Y #h1 #bbb 3 ,M&EL'S ,ECONOMICS -- ,UPDAT$4 

 FILE G5]AT$ FROM 3  
HTTP3_/_/REVOLTLIB4COM_/