Jack Rasmus on Crisis Theory, Bourgeois and Marxist

Jack’s theme is that those who focus on FRP as the primary driver of cycles and crises only understand half of Marx. Will also offer some ideas that expand upon Sweezy and Baran's 'economic surplus'--heading in the right direction but incomplete to understand finance capital. The talk will be about expanding Marxist analysis to better account for finance capital in the 21st century, which cannot be reduced simply to 'fictitious capital' or understood with just the production of value approaches based upon Marx's initial conceptual triad of rate of surplus value, organic composition, and FRP tendency. The presentation is not a refutation of value theory or even the TFRP, but a further development focusing on the circulation and realization of value (and the role of finance) as the other half of the crisis picture that Marx began to talk about in Vol. III but did not develop, partly due to time and partly due to remaining too immersed in classical economics' categories.
This is part of our regular series: Sunday Morning at the Marxist Library.