April 24, 2024

Editorial Note: The CWPUSA republishes a work from the February 1948 issue of ‘Political Affairs’ by J. Mindel. Today, there is a resurfacing of the economic theories of Keynes which attempt to pass them off as ‘socialism’. The various opportunist currents, in a vulgar interpretation of Marxist political-economy and an incorrect understanding of imperialism, point to the theories of Keynes, in one form or another, as a means by which to achieve socialism. These beliefs lead to conclusions that support the myriad of forms of social democracy i.e. the governments of ‘progressivism’ in Chile and Colombia and other reformist tendencies that do not have the overthrow of capitalism as its objective. The lessons of Mexico and many Latin American countries, Spain, and Greece, to name a few, is that no party or management of capitalism, whether neoliberal or Keynesian, can solve the precarious situation in which the majority of the working class lives. The Socialist Revolution is the transformation that the working class needs to put an end to its situation of precariousness and exploitation

THE-ECONOMIC-THEORIES-OF-KEYNES-POLITICAL-AFFAIRS-FEB-1948