,SECTION #b1 ,*APT] #bd 
,HI/ORICAL ,EXPOSITION ( ! ,PROBLEM3 ,! ,5D ( ,RUSSIAN ',LEGALI/' ,M>XISM 

,PEOPLE 3 

,AU?OR 3 ,ROSA ,LUXEMBURG 

,TEXT 3 

,! ,RUSSIAN 'LEGALI/' ,M>XI/S1 & ,TUGAN ,B>ANOVSKI ABOVE ALL1 CAN CLAIM ! CR$IT1 9 !IR /RUGGLE AGA9/ ! D\BT]S ( CAPITALI/ ACCUMULATION1 ( HAV+ 5RI*$ ECONOMIC !ORY BY AN APPLICATION ( ,M>X'S ANALYSIS ( ! SOCIAL REPRODUCTIVE PROCESS & IT S*EMATIC REPRES5TATION 9 ! SECOND VOLUME ( ,CAPITAL4 ,BUT 9 VIEW ( ! FACT ?AT ?IS SAME ,TUGAN ,B>ANOVSKI QUITE WRONGLY REG>D$ SAID DIAGRAM AS ! SOLUTION TO ! PROBLEM 9/EAD ( ITS =MULATION1 HIS CONCLUSIONS W]E B\ND TO REV]SE ! BASIC ORD] ( ,M>X'S DOCTR9E4 

,TUGAN ,B>ANOVSKI'S APPROA*1 ACCORD+ TO :I* CAPITALI/ PRODUCTION CAN CREATE UNLIMIT$ M>KETS & IS 9DEP5D5T ( CONSUMPTION1 LEADS HIM /RAI<T ON TO ! !SIS ( ,SAY-,RIC>DO1 I4E4 A NATURAL BALANCE BETWE5 PRODUCTION & CONSUMPTION1 BETWE5 SUPPLY & DEM&4 ,! DIFF]5CE IS SIMPLY ?AT ?OSE TWO ONLY ?\<T 9 T]MS ( SIMPLE COMMODITY CIRCULATION1 :IL/ ,TUGAN ,B>ANOVSKI APPLIES ! SAME DOCTR9E TO ! CIRCULATION ( CAPITAL4 ,HIS !ORY ( CRISES BE+ CAUS$ BY A 'LACK ( PROPORTION' IS 9 EFFECT JU/ A P>APHRASE ( ,SAY'S OLD TRITE ABSURDITY3 ! OV]-PRODUCTION ( ANY ONE COMMODITY ONLY GOES TO %[ UND]-PRODUCTION ( ANO!R2 & ,TUGAN ,B>ANOVSKI SIMPLY TRANSLATES ?IS NONS5SE 9TO ! T]M9OLOGY US$ 9 ,M>X'S ANALYSIS ( ! REPRODUCTIVE PROCESS4 ,EV5 ?\< HE DECL>ES ?AT1 ,SAY NOT)/&+1 G5]AL OV]-PRODUCTION IS QUITE POSSIBLE 9 ! LI<T ( ! CIRCULATION ( MONEY :I* ! =M] HAD 5TIRELY NEGLECT$1 YET IT IS 9 FACT ?IS V]Y SAME NEGLECT1 ! BESETT+ S9 ( ,SAY & ,RIC>DO 9 !IR DEAL+S ) ! PROBLEM ( CRISES :I* IS ! CONDITION = HIS DELI<TFUL MANIPULATIONS ) ,M>X'S DIAGRAM4 ,AS SOON AS IT IS APPLI$ TO ! CIRCULATION ( MONEY1 'DIAGRAM ,NO4#b' BEG9S TO BRI/LE ) SPIKES & B>BS4 ,BULGAKOV WAS CAU<T 9 !SE SPIKES :5 HE ATTEMPT$ TO FOLL[ UP ,M>X'S 9T]RUPT$ ANALYSIS TO A LOGICAL CONCLUSION4 ,?IS COMP\ND ( =MS ( ?\<T BORR[$ FROM ,M>X ) CONT5TS D]IV$ FROM ,SAY & ,RIC>DO IS :AT ,TUGAN ,B>ANOVSKI MODE/LY CALLS HIS 'ATTEMPT AT A SYN!SIS BETWE5 ,M>X'S !ORY & CLASSICAL ECONOMICS'4 

,AFT] ALMO/ A C5TURY1 ! !ORY ( OPTIMISM :I* HOLDS1 9 ! FACE ( PETTY-B\RGEOIS D\BTS1 ?AT CAPITALI/ PRODUCTION IS CAPABLE ( DEVELOPM5T1 RETURNS1 BY WAY ( ,M>X'S DOCTR9E & ITS 'LEGALI/' *AMPIONS1 TO ITS PO9T ( DEP>TURE1 TO ,SAY & ,RIC>DO4 ,! ?REE ',M>XI/S' JO9 =CES ) ! B\RGEOIS 'H>MONI/S' ( ! ,GOLD5 ,AGE %ORTLY BE=E ! ,FALL :5 B\RGEOIS ECONOMICS WAS EXPELL$ FROM ! ,G>D5 ( ,9NOC5CE - ! CIRCLE IS CLOS$4 

,!RE CAN BE NO D\BT ?AT ! 'LEGALI/' ,RUSSIAN ,M>XI/S A*IEV$ A VICTORY OV] !IR OPPON5TS1 ! 'POPULI/S'1 BUT ?AT VICTORY WAS RA!R TOO ?OR\<4 ,9 ! HEAT ( BATTLE1 ALL ?REE - ,/RUVE1 ,BULGAKOV & ,TUGAN ,B>ANOVSKI - OV]/AT$ !IR CASE4 ,! QUE/ION WAS :E!R CAPITALISM 9 G5]AL1 & ,RUSSIAN CAPITALISM 9 P>TICUL>1 IS CAPABLE ( DEVELOPM5T2 !SE ,M>XI/S1 H[EV]1 PROV$ ?IS CAPACITY TO ! EXT5T ( EV5 (F]+ !ORETICAL PRO( ?AT CAPITALISM CAN GO ON = EV]4 ,ASSUM+ ! ACCUMULATION ( CAPITAL TO BE )\T LIMITS1 ONE HAS OBVI\SLY PROV$ ! UNLIMIT$ CAPACITY ( CAPITALISM TO SURVIVE6 ,ACCUMULATION IS ! SPECIFICALLY CAPITALI/ ME?OD ( EXP&+ PRODUCTION1 ( FUR!R+ LABOR PRODUCTIVITY1 ( DEVELOP+ ! PRODUCTIVE =CES1 ( ECONOMIC PROGRESS4 ,IF ! CAPITALI/ MODE ( PRODUCTION CAN 5SURE B\NDLESS EXPANSION ( ! PRODUCTIVE =CES1 ( ECONOMIC PROGRESS1 IT IS 9V9CIBLE 9DE$4 ,! MO/ IMPORTANT OBJECTIVE >GUM5T 9 SUPPORT ( SOCIALI/ !ORY BREAKS D[N2 SOCIALI/ POLITICAL ACTION & ! IDEOLOGICAL IMPORT ( ! PROLET>IAN CLASS /RUGGLE CEASE TO REFLECT ECONOMIC EV5TS1 & SOCIALISM NO LONG] APPE>S AN HI/ORICAL NECESSITY4 ,SETT+ \T TO %[ ?AT CAPITALISM IS POSSIBLE1 ?IS TR5D ( REASON+ 5DS UP BY %[+ ?AT SOCIALISM IS IMPOSSIBLE4 

,! ?REE ,RUSSIAN ,M>XI/S W]E FULLY AW>E ?AT 9 ! C\RSE ( ! DISPUTE !Y HAD MADE AN AB\T-TURN1 ?\< ,/RUVE1 9 HIS 5?USIASM = ! CULTURAL MISSION ( CAPITALISM1 DOES NOT WORRY AB\T GIV+ UP A USEFUL W>RANT47#a7 ,BULGAKOV TRI$ TO /OP ! GAPS N[ MADE 9 SOCIALI/ !ORY ) ANO!R FRAGM5T ( ! SAME !ORY AS BE/ HE C\LD3 HE HOP$ ?AT CAPITALI/ SOCIETY MI<T YET P]I%1 9 SPITE ( ! IMMAN5T BALANCE BETWE5 PRODUCTION & CONSUMPTION1 BECAUSE ( ! DECL9+ PR(IT RATE4 ,BUT IT WAS HE HIMSELF :O F9ALLY CUT AWAY ! GR\ND FROM UND] ?IS SOME:AT PREC>I\S COM=T4 ,=GETT+ ! /RAW HE HAD (F]$ = ! SALVATION ( SOCIALISM1 HE TURN$ ON ,TUGAN ,B>ANOVSKI ) ! TEA*+ ?AT1 9 ! CASE ( L>GE CAPITALS1 ! RELATIVE DECL9E 9 ! PR(IT RATE IS COMP5SAT$ BY ! ABSOLUTE GR[? ( CAPITAL47#b7 ,MORE CONSI/5T ?AN ! O!RS1 ,TUGAN ,B>ANOVSKI F9ALLY ) ! CRUDE JOY ( A B>B>IAN DE/ROYS ALL OBJECTIVE ECONOMIC >GUM5TS 9 SUPPORT ( SOCIALISM1 ?US BUILD+ 9 HIS [N SPIRIT 'A MORE BEAUTIFUL WORLD' ON AN E?ICAL F\NDATION4 ',! 9DIVIDUAL PROTE/S AGA9/ AN ECONOMIC ORD] :I* TRANS=MS ! 5D 7MAN7 9TO A MEANS 7PRODUCTION7 & ! MEANS 7PRODUCTION7 9TO AN 5D4'7#c7 

,\R ?REE ,M>XI/S DEMON/RAT$ 9 P]SON ?AT ! NEW F\NDATIONS ( SOCIALISM HAD BE5 FRAIL & J]RY-BUILT4 ,!Y HAD H>DLY LAID D[N ! NEW BASIS = SOCIALISM BE=E !Y TURN$ !IR BACKS ON IT4 ,:5 ! MASSES ( ,RUSSIA W]E /AK+ !IR LIVES 9 ! FI<T = ! IDEALS ( A SOCIAL ORD] TO COME1 :I* W\LD PUT ! 5D 7MAN7 BE=E ! MEANS 7PRODUCTION71 ! '9DIVIDUAL' W5T 9TO RETREAT1 TO F9D PHILOSOPHICAL & E?ICAL SOLACE ) ,KANT4 ,9 ACTUAL FACT1 ! 'LEGALI/' B\RGEOIS ,M>XI/S 5D$ UP JU/ :]E WE %\LD EXPECT !M TO FROM !IR !ORETICAL POSITION - 9 ! CAMP ( B\RGEOIS H>MONIES4 

,FOOTNOTES 

7#a7 ,/RUVE SAYS 9 ! PREFACE TO ! COLLECTION ( HIS ,RUSSIAN ESSAYS 7PUBLI%$ 9 #a#i#e73 ',9 #a#h#i#d1 :5 ! AU?OR PUBLI%$ HIS ,CRITICAL ,COMM5TS ON ! ,PROBLEM ( ,ECONOMIC ,DEVELOPM5T 9 ,RUSSIA1 HE 9CL9$ 9 PHILOSOPHY T[>DS POSITIVISM1 9 SOCIOLOGY & ECONOMICS T[>DS \TSPOK51 ?\< BY NO MEANS OR?ODOX1 ,M>XISM4 ,S9CE !N1 ! AU?OR NO LONG] SEES ! :OLE TRU? 9 POSITIVISM & ,M>XISM :I* IS GR\ND$ 9 IT 7671 !Y NO LONG] FULLY DET]M9E HIS VIEW ( ! WORLD4 ,MALIGNANT DOGMATISM :I* NOT ONLY BR[BEATS ?OSE :O ?9K DIFF]5TLY1 BUT SPIES UPON !IR MORALS & PSY*OLOGY1 REG>DS SU* WORK AS A M]E 0,EPICUREAN 9/ABILITY ( M9D04 ,IT CANNOT UND]/& ?AT CRITICISM 9 ITS [N RI<T IS TO ! LIV+ & ?9K+ 9DIVIDUAL ONE ( ! MO/ VALUABLE RI<TS4 ,! AU?OR DOES NOT 9T5D TO R5\NCE ?IS RI<T1 ?\< HE MI<T CON/ANTLY BE 9 DANG] ( BE+ 9DICT$ = 09/ABILITY0' 7,MISCELLANY1 ,/4 ,PET]SBURG #a#i#a74 

7#b7 ,BULGAKOV1 OP4 CIT41 P4#b#e#b4 

7#c7 ,TUGAN ,B>ANOVSKI1 ,/UDIES ON ! ,!ORY & ,HI/ORY 4441 P4#b#b#i4 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #f1 #bba 3 ,SECTION #b1 ,*APT] #bd -- ,ADD$4 

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