East Bay
East Bay
Indybay Regions North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area California United States International Americas Haiti Iraq Palestine Afghanistan
From the Open-Publishing Calendar
From the Open-Publishing Newswire
Indybay Feature

Marx vs. Keynes

Sunday, December 04, 2011
10:30 AM - 12:30 PM
Event Type:
Panel Discussion
Ron Kelch
6501 Telegraph Ave., Oakland, Ca. 94609
Location Details:
Niebyl-Proctor Library
6501 Telegraph Ave (at Alcatraz)

Sunday Morning at the Marxist Library

Sunday, December 4, 2011, 10:30 AM - 12:30 PM

*Marx vs. Keynes*

Radicals 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:

“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.

“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.”

Today’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.

What 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?

Sunday, December 4, 2011, 10:30 AM - 12:30 PM
6501 Telegraph Ave., Oakland, CA 94609

Speakers Ron Kelch and Raj Sahai

Sponsored by the Institute for Critical Study of Society
Added to the calendar on Sat, Nov 26, 2011 4:44PM
We are 100% volunteer and depend on your participation to sustain our efforts!


$70.00 donated
in the past month

Get Involved

If you'd like to help with maintaining or developing the website, contact us.


Publish your stories and upcoming events on Indybay.

IMC Network