Thanks Michel<div><br></div><div>yes, that's what I seem to notice too.</div><div><br></div><div>yet Kliman seems to requestion the data Prof Wolff uses ( The professor presenting "Capitalism Hits the Fan" lecture )... hence I get confused about the points Kliman tries to make.<br>
<br><div class="gmail_quote">On Sat, Nov 12, 2011 at 12:53 PM, Michel Bauwens <span dir="ltr"><<a href="mailto:michel@p2pfoundation.net">michel@p2pfoundation.net</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex;">
what I have heard and seen� on this issue, is that<br><br>- wages are largely stagnant<br><br>- share of gdp constant, which means none of productivity gains were factored in to benefit workers ...<br><br>- real estate prices have gone up, taking larger parts of household income, but 4 many items, cost is down ...<div class="HOEnZb">
<div class="h5"><br>
<br><div class="gmail_quote">On Sat, Nov 12, 2011 at 6:29 PM, Dante-Gabryell Monson <span dir="ltr"><<a href="mailto:dante.monson@gmail.com" target="_blank">dante.monson@gmail.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0pt 0pt 0pt 0.8ex;border-left:1px solid rgb(204, 204, 204);padding-left:1ex">
Thanks.<div>I googled it further,</div><div>and ended up reading a relatively recent article by the author of the book, Andrew Kliman ( see below ).</div><div><br></div><div>If I understand properly, he seems to argument that real wage income did not go down.</div>
<div>This then leads me to ask : did real spending capacity increase ?</div><div>How is the adapted real wage income calculated ?</div><div>For example, did the cost of housing in percentage of income increase ?</div><div>
Is this taken into account ?</div><div>Here in western europe, and more particularly in relation to my family,</div><div>I noticed for example that over the years, that despite my mother working more, and her children not being on her expenses anymore, she ends up being able to afford only smaller and smaller apartments to rent for herself.</div>
<div><br></div><div>Hence,this leads me to ask if it may be of interest to understand the impact of inequality, and more specifically make usage of data regarding growing inequality of incomes - references needed - ( impacted by increases in productivity and further delocalisation ? ) , on the cost of living, and quality of life ?</div>
<div><br></div><div>Hence look at comparisons of consumption in terms of what one can afford after paying for necessities. �Apparently, when my mother was young, one working parent seemed to be able to cover basic necessity costs of the children.</div>
<div>Today, even two working parents seem to have difficulties in affording a decent living, at least here in western europe.</div><div><br></div><div>///</div><div><br></div><div><a href="http://www.marxisthumanistinitiative.org/economic-crisis/lies-damned-lies-and-underconsumptionist-statistics.html" target="_blank">http://www.marxisthumanistinitiative.org/economic-crisis/lies-damned-lies-and-underconsumptionist-statistics.html</a></div>
<div><br></div><div>excerpt :<br><div><br></div><div><span style="color:rgb(51, 51, 51);font-family:Palatino,Georgia,Palladio,'URW Palladio L',serif;font-size:14px;line-height:18px;background-color:rgb(255, 255, 255)">"I do not mean to imply that working people are living well. That isn�t the case. But the reason it isn�t the case doesn�t have to do with the alleged but nonexistent decline in the share of national income they receive. It has to do with a sharp decline in GDP growth that began in the mid-1970s and has more or less persisted ever since. Since GDP isn�t growing fast and working people are getting a close-to-constant share of it, their incomes aren�t growing fast."</span><br>
<br><div class="gmail_quote">On Sat, Nov 12, 2011 at 7:57 AM, Michel Bauwens <span dir="ltr"><<a href="mailto:michel@p2pfoundation.net" target="_blank">michel@p2pfoundation.net</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0pt 0pt 0pt 0.8ex;border-left:1px solid rgb(204, 204, 204);padding-left:1ex">
<br><br><div class="gmail_quote">---------- Forwarded message ----------<br>From: <b class="gmail_sendername">seth weiss</b> <span dir="ltr"><<a href="mailto:weiss_seth@hotmail.com" target="_blank">weiss_seth@hotmail.com</a>></span><br>
Date: Sat, Nov 12, 2011 at 11:50 AM<br>Subject: New book: "The Failure of Capitalist Production"<br>To: newspacegroup newspacegroup <<a href="mailto:newspacegroup@lists.mutualaid.org" target="_blank">newspacegroup@lists.mutualaid.org</a>><br>
<br><br>
<div><div dir="ltr">
<p style="margin:0px;text-align:justify;font:12px Helvetica">New SPACE friends, An important new book by Andrew Kliman has just been published. Please have a look! Take care, Seth �</p><p style="margin:0px;text-align:justify;font:12px Helvetica">
<br></p><p style="margin:0px;text-align:justify;font:12px Helvetica"><br></p><p style="margin:0px;text-align:justify;font:12px Helvetica"><span style="font-family:arial,sans-serif;font-size:13px;border-collapse:collapse"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<b><span style="font-size:12pt;font-family:'Times New Roman',serif;color:black">THE FAILURE OF CAPITALIST PRODUCTION</span></b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><b><span style="font-size:12pt;font-family:'Times New Roman',serif;color:black">Underlying Causes of the Great Recession</span></b><span style="font-size:12pt;font-family:'Times New Roman',serif;color:black"></span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><font face="Georgia, serif"><br></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<span style="font-size:10pt;font-family:Georgia,serif;color:black">by Andrew Kliman</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<font face="Georgia, serif"><br></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:black">Paperback / 256 pp. / ISBN-13: 978-0745332390.�<span>�</span>Published by Pluto Press, November 2011.</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><font face="Georgia, serif"><b><br></b></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<b><span style="font-size:10pt;font-family:Georgia,serif;color:black">Only $23.40 from MHI + $3.60 shipping in U.S. -- below Amazon's price (foreign purchasers: please contact MHI for rates).</span></b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><b><span style="font-size:10pt;font-family:Georgia,serif;color:black">Order here:�<a href="http://www.marxisthumanistinitiative.org/economic-crisis/new-book-the-failure-of-capitalist-production.html" style="color:rgb(0, 0, 204)" target="_blank">http://www.<u></u>marxisthumanistinitiative.org/<u></u>economic-crisis/new-book-the-<u></u>failure-of-capitalist-<u></u>production.html</a></span></b></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><font face="Georgia, serif"><br></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<span style="font-size:10pt;font-family:Georgia,serif;color:black">The reasons behind the global financial crisis and the Great Recession are the subject of much debate. This is the first book to conclude, on the basis of in-depth analyses of official U.S. data, that Marx�s crisis theory can explain these events.</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:black">Marx believed that the rate of profit has a tendency to fall, leading to economic crises and recessions. Many economists, Marxists among them, have dismissed this theory out of hand, but Andrew Kliman�s careful data analysis shows that the rate of profit did indeed decline after the post-World War II boom. He shows that free-market policies have failed to reverse that decline. This fall in profitability led to sluggish investment and economic growth, mounting debt problems, desperate attempts of governments to fight these problems by piling up even more debt � ultimately ending in the Great Recession.</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:black">Kliman's conclusion is simple but shocking: short of socialist transformation, the only way to escape the �new normal� of a stagnant, crisis-prone economy is to restore profitability through full-scale destruction of the value of existing capital assets, something not seen since the Depression of the 1930s.�</span><span style="font-size:10pt;font-family:Georgia,serif;color:white">.</span><b><span style="font-size:10pt;font-family:Georgia,serif;color:black"></span></b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><font color="#291201" face="Georgia, serif"><b><br></b></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)">Endorsements:</span></b></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:black">�Clear, rigorous and combative. Kliman demonstrates that the current economic crisis is a consequence of the fundamental dynamic of capitalism, unlike the vast bulk of superficial contemporary commentary that passes for economic analysis.��</span><b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><br>
</span></b><b><span style="font-size:10pt;font-family:Georgia,serif;color:black">� Rick Kuhn, Deutscher Prize winner, Reader in Politics at the Australian National University</span></b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:black">�Among the myriad publications on the present day crisis, this work stands out as something unusual. Kliman cogently argues against the view that the crisis is ultimately rooted in financialization. He is an excellent theorist, and an equally excellent analyst of empirical data.��</span><b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><br>
</span></b><b><span style="font-size:10pt;font-family:Georgia,serif;color:black">� Paresh Chattopadhyay, Universit� du Qu�bec � Montr�al</span></b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:black">�One of the very best of the rapidly growing series of works seeking to explain our economic crisis. � The scholarship is exemplary and the writing is crystal clear. Highly recommended!�</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><br>
</span><b><span style="font-size:10pt;font-family:Georgia,serif;color:black">� Professor Bertell Ollman, New York University, author of�<i>Dance of the Dialectic</i></span></b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><font face="Georgia, serif"><b><br></b></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<b><span style="font-size:10pt;font-family:Georgia,serif;color:black">Chapters:</span></b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p><p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white">
<span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>1.<span>�</span></span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">Introduction</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>2.<span>�</span></span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">Profitability, the Credit System, and the �Destruction of Capital�</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>3.<span>�</span></span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">Double, Double, Toil and Trouble: Dot-com boom and home-price bubble</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>4.<span>�</span></span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">The 1970s��Not the 1980s��as Turning Point</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>5.<span>�</span></span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">Falling Rates of Profit and Accumulation</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>6.<span>�</span></span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">The Current-cost �Rate of Profit�</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>7.<span>�</span></span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">Why the Rate of Profit Fell</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>8.</span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">The Underconsumptionist Alternative</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"><span>9.<span>�</span></span></span><span style="font-size:10pt;font-family:Georgia,serif;color:black">What Is to Be Undone?</span><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0in 0in 2.25pt 45pt;line-height:normal;background-color:white"><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)">�</span></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)">For a�<b>synopsis</b>�of chapters, and�<b>excerpts</b>�from the book, please visit�</span><b><span style="font-size:10pt;font-family:Georgia,serif;color:black"><a href="http://www.marxisthumanistinitiative.org/economic-crisis/new-book-the-failure-of-capitalist-production.html" style="color:rgb(0, 0, 204)" target="_blank">http://www.<u></u>marxisthumanistinitiative.org/<u></u>economic-crisis/new-book-the-<u></u>failure-of-capitalist-<u></u>production.html</a></span></b><span style="font-size:10pt;font-family:Georgia,serif;color:rgb(41, 18, 1)"></span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><font face="Georgia, serif"><b><br></b></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<b><span style="font-size:10pt;font-family:Georgia,serif;color:black">Podcast (audio) interview</span></b><span style="font-size:10pt;font-family:Georgia,serif;color:black">:�<span>�</span>Kliman and host Doug Lain discuss the book (causes of the Great Recession, inequality, underconsumptionism, the #Occupy movement, and more) on Diet Soap Podcast #125: Crisis and Capitalism�s System Failure (70 mins.),�<a href="http://dietsoap.podomatic.com/" title="http://dietsoap.podomatic.com/" style="color:rgb(0, 0, 204)" target="_blank">http://dietsoap.podomatic.com</a>�.</span></p>
<p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><font face="Georgia, serif"><br></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white">
<font face="Georgia, serif"><br></font></p><p class="MsoNormal" style="margin:0px 0px 16.2pt;line-height:normal;background-color:white"><font face="Georgia, serif"><br></font></p><p></p> </div></div>
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