Whenever capitalism is in a period of crisis there is an emergence of a particular type of bourgeois economist. Unlike those economists who serve as the cheerleaders of capitalism during its "boom" periods, where the global centres do not experience the visceral facts of class contradiction, these particular economists are attentive to the reality of crisis capitalism. Indeed, the Milton Friedmans of the economist world, who did little more than play the role reserved for a feudal court's charlatan astrologer (as Samir Amin once claimed), are not really convincing in a context that disproves all of their supposedly "mathematical" theories. They don't vanish altogether, and of course remain popular in various faculties, but since their theories were predicated on justifying a temporary phase of capitalism that is no longer ascendent, they cannot help but seem somewhat antiquated. Hence a discursive space is opened for economists who do not shy away from a...
Marxist-Leninist-Maoist reflections