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Reply to Troy Vettese's “Against Steady-State Economics”1

Posted On: Mar 19, 2020   |   Posted By: Steady State

By Herman Daly
Steady staters are used to being attacked by right-wing neoliberals. Attacks from left-wing neo-Marxists are new and require a reply. To put the matter simply, Marxists hate capitalism, and they mistakenly assume that steady-state economics is inherently capitalist. Vettese is a Marxist; ergo, Vettese hates steady-state economics.
To spell this out, let's begin by giving Marx due credit for emphasizing the reality of class exploitation under all heretofore existing economic systems, including especially capitalism, although excluding future idealized communism. Communism arrives after the Revolution in which the dictatorship of the proletariat seizes control of the enormous powers of capitalist production. With overwhelming abundance, bourgeois man is freed from scarcity-induced greed and acquisitiveness, giving birth to the “new socialist man” and the Marxist eschatology of heaven on earth.
Marx noted injustices of capitalism and predicted political crises, yet failed to foresee limits to...

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