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To: Sigmund who wrote (6167)6/19/1998 12:00:00 PM
From: Dave Hanson  Read Replies (2) of 14266
 
"Marx and Adam Smith came from the same economic school (the Scottish School I think it is called) which was based partly on the labor theory of value. Marx went haywire with it and used it to foment revolution. But Marxists, although totally devoid of any sense when it comes to building an economy, are very good at critiquing and finding the gaps in classical and neoclassical economics. Their crisis theory is an example of where they are on to something."

As a professional philosopher as well as an amateur economist, I wanted to add that I think Sigmund has this precisely correct. Marx's critical account is very much underappreciated by contemporary capitalists.

Would like to hear more about your studies at the New School, when/if you're inclined.

Dave
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