A rejoinder

Martin Hart-Landsberg and Paul Burkett (hereafter “the authors”) attack our paper on three main counts. The first claims that we have set up an absurd model of three separate and distinct capitalisms, in which exploitation of workers plays no significant part, and in two of which market relations have no place. The second is that we have misunderstood the Asian financial crisis as a temporary crisis of friction between these capitalisms, rather than as a fundamental crisis of a single capitalist system, deriving from class conflict, a declining rate of profit, and over-production. The third accuses us of Thatcherism, of presenting a scenario in which “There Is No Alternative” to capitalism. We respond that the authors have largely misrepresented our paper and its purpose and that where the disagreements are real, they are wrong

Housing, Finance, and Neoliberalism · Philosophy · Political and Economic history of UK and US · Political Economy and Marxism