Make no mistake about it: new Greek finance minister Yanis Varoufakis is a self-described Marxist (Confessions of an Erratic Marxist in the Midst of a Repugnant European Crisis). And yet at the same time, he may be Europe’s best hope for the survival of the EU and its underlying capitalist system.
To understand why this is not contradictory, it is first necessary to explain what Marx really said.…
There is no way to offer a comprehensive explanation of Marx’s economic theory in a blog post, nor is that my goal. I do, however, want to offer enough insight into his work to shed light on what Greece is really about right now. The focus will be on those aspects of Marx that people find most surprising–at least I did when I took my first history of economic thought course in 1980!
Forbes — Pragmatic Economist
Can The Marxist Save European Capitalism
Can The Marxist Save European Capitalism
John T. Harvey | Professor of Economics, Texas Christian University
2 comments:
A self-decribed Marxist who wants to reform Capitalism? Riiiight.
Along with Francois Hollande, "socialist" leader and President of France, I can see that the revolution is in good hands.
"Want to save it? Make sure it’s sustainable, incorporating some means of reinjecting the spending that the Germans, et al, drain with their trade surpluses (for an explanation of why the current system is unstable see What The EU Can Learn From The National Football League). This is Varoufakis’s goal."
This is probably wishful thinking on John's part... imo, John's understanding is much further along than Yanis' is..
I think John understands this Greece situation mathematically while Yanis does not...
Rsp,
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