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1、ListenKeynesians,It’stheSystem!ResponsetoPalleyJOhnBeLLaMYFOsTeRandROBeRTW.McchesneYTheproblemInanarticleentitled“Listen,Keynesians,”publishedinJanuary1983inMonthlyReview,HarryMagdoffandPaulSweezyarguedthattheradicalbreakthatJohnMaynardKeynes’sGeneralTheoryofEmployment
2、,InterestandMoney(1936)representedfororthodoxeconomicslayinthefactthat“Forthefirsttimethepossibilitywasfranklyfaced,indeedplacedattheverycenteroftheanalysis,thatbreakdownsoftheaccu-mulationprocess,theheartandsoulofeconomicgrowth,mightbebuiltintothesystemandnon-selfcorr
3、ecting.”1Sweezymade“Listen,Keynesians”thebasisforhiscontributiontotheKeynescentennialmeetingofeconomistsatHofstraUniversitylaterthatsameyear(ameetingthatalsoincludedsuchluminariesasJamesTobin,JohnKennethGalbraith,DudleyDillard,andJamesEatwell).2ForSweezy,theearly1980sw
4、ereatimeofrenewedeconomicstagnation,theriseofsupply-sideeconomics(theveryantithesisofKeynes’sviews),andtheemergenceofnewcontradictions,suchasfinancialization.ItwasthereforehightimethattheremainingKeynesiansreturnedtothecentralproblemraisedbyKeyneshimself,ofanunderlying
5、contradictioninthecapital-accumulationprocess,leadingtoastrongstagnationtendency.3SweezywasaMarxisteconomist,butonewhohadalsobeeninflu-encedbytheKeynesianrevolutionatitsinception,embracingsomeofthemoreradicalconclusionsofKeynes’seconomics,whichhebelievedfitwellwithinaM
6、arxianpoliticalandideologicalframework.4Itwaspossible,heargued,tobebothasocialistandanorthodoxKeynesian—asinthecaseofJoanRobinson,Keynes’syoungercolleagueatCambridgeUniversityandoneoftheforemosteconomistsofherday,whofrequentlywroteforMonthlyReview.AsJosephSchumpetersai
7、dofJohnBellamyFoster(jfoster@monthlyreview.org)iseditorofMonthlyReview,professorofsociologyattheUniversityofOregon,andauthor(withFredMagdoff)ofTheGreatFinancialCrisis(MonthlyReviewPress,2009).RobertW.Mcchesney(rwmcches@uiuc.edu)isGutgsellEndowedProfessorofCommunication
8、sattheUniversityofIllinoisatUrbana-Champaign,andauthorofThePoliticalEconomyofMedia(MonthlyReviewPress,2008)and(withJo
