Date: Sat, 2 Aug 1997 11:27:11 +0100
From: Lew <Lew-AT-dialogues.demon.co.uk>
Subject: Re: M-TH: Labor Theory of Value and Keynesianism


In article <199708020203.DAA03860-AT-indigo.ie>, Karl Carlile
<joseph-AT-indigo.ie> writes

>KARL: Surely Lew it is not a question of what monetary policy should
>be. Surely it is a question of struggling to abolish the money form.

I agree entirely, Karl. But there are many, probably the majority on
this list, who do not agree. I was asking where is *their* monetary
policy and how does it square with Marx. 

>Although discredited
>by experience, Keynesian assumptions are still accepted by the major
>political parties, Treasury officials and economists. Criticism of
>Keynes is common on the Left; but what is not so common is a statement
>of what they believe monetary policy should be. Since the alternatives
>are either some form of "sound money" (remember monetarism?) or the
>policies of increased spending which can be grouped under the heading
>of
>Keynesianism, they have yet to face up to the implications of their own
>analysis. 

-- 
Lew


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