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      RESPONSES TO THE CAPITALIST CRISIS: REFORMIST AND REVOLUTIONARY DEMANDS IN THE US "GREAT RECESSION"

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      World Review of Political Economy
      Pluto Journals
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            Abstract

            The current economic crisis in the US has generated the greatest popular discontent with the system and from that possible potential for radical change since World War II. This article looks at the Marxist tradition for generating revolutionary demands, including the essential issue of avoiding sterile revolutionary demands, and what distinguishes revolutionary demands from the socially more common progressive reformist demands. It then considers this issue specifically in the particular context of the US today of a working class that has been almost entirely demobilized for three decades, and largely politically disarmed since World War II. It specifically considers an important progressive set of economic demands that was issued early in the crisis, and compares these with a few recently issued demands that come out of an analysis of the crisis by revolutionaries who are seeking to begin to mobilize the working class to the project of transcending capitalism. The article ends with some preliminary proposals for extending these latter demands, in the approach of Marx, Engels and Lenin, more broadly to the current crisis.

            Content

            Author and article information

            Journal
            worlrevipoliecon
            10.2307/j50005553
            World Review of Political Economy
            Pluto Journals
            2042891X
            1 July 2011
            : 2
            : 2
            : 262-289
            Article
            10.2307/41917738
            fdda96f5-4fd1-4b6b-a453-fb5a8598fead
            © WORLD ASSOCIATION FOR POLITICAL ECONOMY 2011

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History

            Political economics

            Notes

            1. Financial Times: "Obama bank plan 'could be law within months'," January 27, 2010; "Bankers try to fight off the wave of controls," January 3 1, 2010; "Global financial reform hangs in the balance," January 31, 2010.

            2. New York Times, available at www.nytimes.com/2010/01/31/opinion/31volcker. html?_r=1&pagewanted=1&hp. www.businessinsider.com/ henry-blodget-paul-volcker-heres-my-complete-plan-to-fix-the-financial-system-and-save-the- world-2010-1

            3. Campbell (2010).

            4. George (1879).

            5. Lowenstein (2010) Lewis (2010).

            6. www.epl.org; www.cepr.net; www.peri.umass.edu.

            7. Crotty and Epstein (2008), D'Arista and Griffith-Jones (2008) Pollin (2009). www.peri.umass.edu/safer.

            8. Albo et al. (2010), chapter 7. Panitch and Gindin (2010).

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