I just finished reading all three volumes of Capital. I first read volume 1 in college about 1973 and re-read it two or three times since, but this is the first time I read volumes 2 and 3. This helped me to follow Professor Hudson's argument in the above video. The rest of the key to understanding is from following the news with the assumption that big media is lying to us.
Karl Marx was fundamentally a British classical economist. He didn't add a great deal to classical economics, but he did extend it to its logical conclusion through a dynamic philosophical analysis. I've always been a little suspicious of Marx' use of Hegel's dialectical idealism, but I must also admit that by applying that method to material phenomena Marx made far better use of it than Hegel himself. Hegel's The Philosphy of History is some of the silliest stuff I've ever read. Chapter 32 of the first volume of Capital read eerily like the daily headlines when I first read it in 1973, and no less so since.
The parasite will kill the host, move to the next host and move on until the host species becomes extinct, leaving the parasite nothing more to feed on. Neoliberalism is a useless theory, used only to justify a parasitic economic relationship between bankers, who do not produce any new wealth, and those of us who work for a living. We need a sustainable economy that takes the survival of the the human species and the environment that provides for it into account. That is why in this election year I enthusiastically support a democratic socialist over a neoliberal.
Thank you, Baobab.
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