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Jeffrey Sklansky Replies

Jeffrey Sklansky Replies 122 New Labor Forum 22(1) Still, Sklansky claims that there is reason to article struck an overly “holy” tone, glossing hope for the future, because the socialization of over the tensions within Marx’s nineteenth- financial assets has been practically completed by century theory and among the many who have the bailout of the big banks in the immediate sought to apply it to subsequent history. So, too, aftermath of the crisis, in 2008-2009. “The bank while there is much to learn from Marxism bailout represents for Marxists a golden missed about money and finance, those lessons have opportunity and a sign of how real change might been vitally reformed and augmented by learn- yet be achieved.” I do not see how this follows. ing from non-Marxist economists, most impor- To be missed, an opportunity must be recognized tantly, John Maynard Keynes, as Livingston as such. To be golden, it must be eminently practi- points out, and the Keynesian theorist of finan- cal and immediately plausible. How many cial crisis Hyman Minsky. Marxism has most to Marxists saw this “opportunity” and were on the offer as an evolving tradition in searching con- scene, advocating the public ownership or control versation http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png New Labor Forum SAGE

Jeffrey Sklansky Replies

New Labor Forum , Volume 22 (1): 2 – Jan 1, 2013

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Publisher
SAGE
Copyright
© 2013, The Murphy Institute, City University of New York
ISSN
1095-7960
eISSN
1557-2978
DOI
10.1177/1095796013475588
Publisher site
See Article on Publisher Site

Abstract

122 New Labor Forum 22(1) Still, Sklansky claims that there is reason to article struck an overly “holy” tone, glossing hope for the future, because the socialization of over the tensions within Marx’s nineteenth- financial assets has been practically completed by century theory and among the many who have the bailout of the big banks in the immediate sought to apply it to subsequent history. So, too, aftermath of the crisis, in 2008-2009. “The bank while there is much to learn from Marxism bailout represents for Marxists a golden missed about money and finance, those lessons have opportunity and a sign of how real change might been vitally reformed and augmented by learn- yet be achieved.” I do not see how this follows. ing from non-Marxist economists, most impor- To be missed, an opportunity must be recognized tantly, John Maynard Keynes, as Livingston as such. To be golden, it must be eminently practi- points out, and the Keynesian theorist of finan- cal and immediately plausible. How many cial crisis Hyman Minsky. Marxism has most to Marxists saw this “opportunity” and were on the offer as an evolving tradition in searching con- scene, advocating the public ownership or control versation

Journal

New Labor ForumSAGE

Published: Jan 1, 2013

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