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DESCRIPTION:Sunday Morning at the Marxist Library\n\nSunday, December 4, 2011, 10:30 AM 
 - 12:30 PM\n\n*Marx vs. Keynes*\n\nRadicals have no monopoly on questioning 
 the viability of capitalism itself in today’s crisis. In the September 14 
 issue of Business Week the capitalist ideologue Peter Coy expressed his own 
 trepidation as he pointed to the relevance of Karl Marx to the current 
 crisis in a long article. Here is the conclusion:\n\n“Now, once again, 
 unbridled capitalism is threatening to undermine itself. The world’s 
 biggest banks, financially weak but politically powerful, are putting the 
 screws on borrowers in an attempt to rescue their own balance sheets. 
 Likewise, creditor nations such as China and Germany are attempting to 
 shift the pain of rebalancing onto debtor nations, even though squeezing 
 them too hard threatens to cause an economic and financial 
 disaster.\n\n“It’s time for another burst of enlightenment. In years 
 past, Britain’s John Maynard Keynes and America’s Hyman P. Minsky 
 (author of Stabilizing an Unstable Economy) did capitalism a service by 
 diagnosing its tendency toward crisis and advising on ways to make things 
 better. The sooner policymakers today ‘recognize we’re facing a 
 once-in-a-lifetime crisis of capitalism,’ as Magnus writes, ‘the better 
 equipped they will be to manage a way out of it.’ Grasping the ways in 
 which Marx was right is the first step toward making sure that his 
 predictions of capitalism’s downfall remain wrong.”\n\nToday’s 
 leading Keynesian, Paul Krugman, supports the Occupy Wall Street (OWS) 
 movement and a radical boost in government spending to put people back to 
 work. Robert Reich, another proponent of a Keynesian solution, gave the 
 Mario Savio Memorial Lecture to several thousand at the Occupy Berkeley and 
 Occupy Oakland solidarity rally on November 16. \n\nWhat did Marx 
 anticipate about a Keynesian type of “burst of enlightenment,” like the 
 one in the 1930s when it was put into practice, and what is distinctive 
 about Marx’s approach for today’s crisis that can help the OWS 
 movement?\n\nSunday, December 4, 2011, 10:30 AM - 12:30 PM\n6501 Telegraph 
 Ave., Oakland, CA 94609\n\nSpeakers Ron Kelch and Raj Sahai\n\nSponsored by 
 the Institute for Critical Study of Society\n\n 
 https://www.indybay.org/newsitems/2011/11/26/18701026.php
SUMMARY:Marx vs. Keynes
LOCATION:Niebyl-Proctor Library\n6501 Telegraph Ave (at Alcatraz)\nOakland
URL:https://www.indybay.org/newsitems/2011/11/26/18701026.php
DTSTART:20111204T183000Z
DTEND:20111204T203000Z
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