ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Capitalism The Deepening Crisis

Frederick F Clairmonte IN Maxim Gorki's play "The Lower Depths'' one of the characters, Ryumin, in love with his neighbour's wife, soli- loquises that truth is ugly and delusion and deliberate self-deception make existence more delectable. Unfortunately, Paul Samuelson, in his appeal to a return of laissez fairyland of 'pure markets', is hardly assimilable to Ryumin. In his nostalgic chant of better days, he laments: "The centre of gravity has shifted. Economists are more conservative than they were 10 years ago because they have seen interference with the market system that has fulfilled their worst forebodings/' Man's "propensity to truck, barter and exchange" as with Adam Smith becomes the sum- mum bonum of economic thought and, of course, "the market",which is its institutional apotheosis.

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