Economía marxista para el Siglo XXI

Returning to Heinrich


Michael Roberts Blog

Back in May, I did a short post (http://thenextrecession.wordpress.com/2013/05/19/michael-heinrich-marxs-law-and-crisis-theory/) outlining my rejection of the arguments of Michael Heinrich, a Marxist scholar.  He recently wrote an article in the US journal, Monthly Review, arguing that Marx’s law of profitability was faulty, empirically unproven or even unprovable and anyway, Marx decided to drop it in his later works and only editing distortions by Engels have left us epigones with the impression that Marx still supported the law (see monthlyreview.org-Crisis_Theory_the_Law_of_the_Tendency_of_the_Profit_Rate_to_Fall_and_Marxs_Studies_in_the_1870s__Mont).

Well, since then there have been several more responses to Heinrich’s arguments.  Andrew Kliman et al has published a long reply (http://www.marxisthumanistinitiative.org/economic-crisis/the-unmaking-of-marxs-capital-heinrichs-attempt-to-eliminate-marxs-crisis-theory.html).  Sam Williams has also started a two-part response on his blog (http://critiqueofcrisistheory.wordpress.com/2013/07/07/michael-heinrichs-new-reading-of-marx-a-critique-pt-1/) and more recently Ed George has delivered a very clear and perceptive defence of Marx’s law (http://edgeorgesotherblog.wordpress.com/2013/07/04/but-still-it-falls-on-the-rate-of-profit/).  And as promised in my May post, G Carchedi and I have produced…

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