“Crises: One After Another for the Life of the System,” Monthly Review, vol. 54, no. 6 (November 2002), pp. 47-59.
Our disagreement with our friends, Sam Gindin and Leo Panitch, is over three interrelated issues: (1) how and why to analyze a crisis-prone capitalism, (2) the capacity of the state to manage or “contain” crises, and (3) the near-term prospects for capital accumulation. In addition there are significant divergences in empirical assessment between us related to these issues.