Battle of Marxian Economists Richard Wolff vs Michael Roberts
Flashpoints /
07 Dec 2019
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How do we account for the current crisis of capitalism. Richard Wolff adopts an underconsumptionist model which says that workers are not paid high enough to buy the products off the shelves. Roberts contends the crisis is due to the tendency of the rate of profit to fall. When it comes to socialism, Roberts feels Wolff has gone too far in letting workplace democracy (worker self-directed enterprises) be the cell of the new world. Roberts feels that workplace democracy needs a plan, otherwise capitalist markets will still determine what happens in worker cooperatives.
Read on Michael Roberts Blog