A panel event held at the New School in New York City on November 14th, 2012.
Transcribed in Platypus Review #56:
The present moment is arguably one of unprecedented confusion on the Left. The emergence of many new theoretical perspectives on Marxism, anarchism, and the left generally seem rather than signs of a newfound vitality, the intellectual reflux of its final disintegration in history. As for the politics that still bothers to describe itself as leftist today, it seems no great merit that it is largely disconnected from the academic left’s disputations over everything from imperialism to ecology. Perhaps nowhere are these symptoms more pronounced than around the subject of the economy. As Marxist economics has witnessed of late a flurry of recent works, many quite involved in their depth and complexity, recent activism around austerity, joblessness, and non-transparency while quite creative in some respects seems hesitant to oppose with anything but nostalgia for the past the status quo mantra, “There is no Alternative.” At a time when the United States has entered the most prolonged slump since the Great Depression, the European project founders on the shoals of debt and nationalism. If the once triumphant neoliberal project of free markets for free people seems utterly exhausted, the “strange non-death of neo-liberalism,” as a recent book title has it, seems poised to carry on indefinitely. The need for a Marxist politics adequate to the crisis is as great as such a politics is lacking.
And 2011 now seems to be fading into the past. In Greece today as elsewhere in Europe existing Left parties remain largely passive in the face of the crisis, eschewing radical solutions (if they even imagine such solutions to exist). In the United States, #Occupy has vanished from the parks and streets, leaving only bitter grumbling where there once seemed to be creativity and open-ended potential. In Britain, the 2011 London Riots, rather than political protest, was trumpeted as the shafted generation’s response to the crisis, overshadowing the police brutality that actually occasioned it. Finally, in the Arab world where, we are told the 2011 revolution is still afoot, it seems inconceivable that the revolution, even as it bears within it the hopes of millions, could alter the economic fate of any but a handful. While joblessness haunts billions worldwide, politicization of the issue seems chiefly the prerogative of the right. Meanwhile, the poor worldwide face relentless price rises in fuel and essential foodstuffs. The prospects for world revolution seem remote at best, even as bankers and fund managers seem to lament democracy’s failure in confronting the crisis. In this sense, it seems plausible to argue that there is no crisis at all, but simply the latest stage in an ongoing social regression. What does it mean to say that we face a crisis, after all, when there is no real prospect that anything particularly is likely to change, at least not for the better?
In this opaque historical moment, Platypus wants to raise some basic questions: Do we live in a crisis of capitalism today and, if so, of what sort — political? economic? social? Why do seemingly sophisticated leftist understandings of the world appear unable to assist in the task of changing it? Conversely, can the world be thought intelligible without our capacity to self-consciously transform it through practice? Can Marxism survive as an economics or social theory without politics? Is there capitalism after socialism?
1. Do we live in a crisis of capitalism today and, if so, of what sort — political? economic? social? Is capitalism basically the same in its “laws of motion” and can it be grasped equally well today as it was by Marx? What difference, if any, does the collapse of the socialist workers movement make for our understanding of capitalism?
2. Why are sophisticated leftist understandings of the world seemingly unable to assist in the task of changing it? Conversely, is the world intelligible despite our incapacity to transform it politically? Can the Left survive as an economics or social theory? Is our work more “difficult” today in theorizing capitalism, or of a completely different kind than it was for past generations of leftist intellectuals?
3. Many on the Left welcomed the #Occupy movement in 2011 because, above all, it responded to capitalist austerity in its slogans and characterized itself in class terms. Did #Occupy betoken a renewed salience of class? How did #Occupy and other movements worldwide differ from the political response — whether by the new social movements or other political expressions — to the crisis of Fordism beginning in the late 1960s and crystallizing with the Oil Crisis in 1973?
4. How does the present crisis compare with past crises of capital? What might we expect to be the duration of the present crisis? Is there an end in sight? Or are we witnessing the “terminal crisis” of capitalism? How do we know? If not the end of capitalism as such, does the present crisis at least signal an end to neoliberalism? If so, what will take its place?
5. How do your political views influence your understanding of capitalism and crisis? In what sense is economics as a science or discipline independent and autonomous from those politics? How do you avoid the danger of your theory from simply confirming your politics, rather than allowing our understanding of present circumstances to help push beyond our present political impasse?
6. At different moments of its unfolding the crisis has been differently expressed in different locations — a sub-prime mortgage crisis in North America, then a sovereign debt crisis in Europe, and now in a still different form in China. What is the extent of the present crisis and how has it been distributed globally? Unevenly? What does globalization look like in a period of prolonged crisis? Is the era of US hegemony at an end? If so, what will take its place? How is/was American imperialism connected to first Fordism and, later, post-Fordist capitalism and how does the new capitalism challenge a new American Empire-led global (re-)organization?
// Co-Editor at Insurgent Notes; ┇ Author (complete archive of writings available here): — Ubu Saved From Drowning: Class Struggle and Statist Containment in Portugal and Spain, 1974-1977 (2000), — “The Sky Is Always Darkest Just Before the Dawn: Class Struggle in the U.S. From the 2008 Crash to the Eve of Occupy” (2011), “Globalization of Capital, Globalization of Struggle” (2012)
// Distinguished Professor of Anthropology and Geography at the CUNY Grad Center; ┇ Author: — The Condition of Postmodernity (1989), — A Brief History of Neoliberalism (2005), — “Why the US Stimulus Package is Bound to Fail” (2008), — The Enigma of Capital and the Crises of Capitalism (2011), — Rebel Cities: From the Right to the City to the Urban Revolution (2012)
// Professor of Economics at Pace University; ┇ Contributing author to the Marxist-Humanist Initiative’s (MHI’s) With Sober Senses since 2009; ┇ Author: — Reclaiming Marx’s “Capital”: A Refutation of the Myth of Inconsistency (2007), — The Failure of Capitalist Production: Underlying Causes of the Great Recession (2012)
// Teaches Philosophy at Adelphi University; ┇ Former editor of the International Journal of Political Economy (1987-2004), frequent contributor to The Brooklyn Rail ┇ Author: — Social Knowledge: An Essay on the Nature and Limits of Social Science (1986), — Art in Its Time: Theories and Practices of Modern Aesthetics (2003), — Business as Usual: The Economic Crisis and the Failure of Capitalism (2011)
OWS has put the focus on finance capital as a driver of inequality, and on the need for political action to address it. But what is the function of finance capital in the modern world, and how should our politics address it? This panel will bring together various Marxist and anarchist perspectives on finance capital.
Radhika Desai is Professor at the Department of Political Studies, University of Manitoba, Winnipeg, Canada. She is the author of Slouching Towards Ayodhya: From Congress to Hindutva in Indian Politics (2nd rev ed, 2004) and Intellectuals and Socialism: 'Social Democrats' and the Labour Party (1994), She edited Developmental and Cultural Nationalisms in 2009. She is co-editing Volume 27 of Research in Political Economy with Paul Zarembka.
Alan Freeman is co-editor of the ‘Future of World Capitalism’ book series and is a former economist at the Greater London Authority. He wrote ‘The Benn Heresy’ and co-edited two books on value theory and, with Boris Kagarlitsky, ‘The Political Economy of Empire and the Crisis of Globalisation.’ With Andrew Kliman he co-edits the new critical pluralist journal Critique of Political Economy.’
Andrew Kliman, a professor of economics at Pace University, is the author of The Failure of Capitalist Production: Underlying Causes of the Great Recession and Reclaiming Marx’s “Capital”: A Refutation of the Myth of Inconsistency. He and Alan Freeman edit Critique of Political Economy, a new scholarly online journal. Many of his writings are available at akliman.squarespace.com and With Sober Senses, marxist-humanist-initiative.org/our-publication, Marxist-Humanist Initiative’s publication.
Costas Panayotakis is Associate Professor of Sociology at CUNY's New York City College of Technology and author of Remaking scarcity: from capitalist inefficiency to economic democracy.
A discussion held by the Platypus Affiliated Society and News & Letters (Marxist-Humanists) on Thursday, January 17th, 2008, at the University of Chicago.
Andrew Kliman on his new book "Reclaiming Marx's 'Capital'"
Marx's critique of political economy: the relation between price and social value in proper context
Andrew Kliman is Professor of Economics at Pace University, New York