WILLIAM JEFFERIES REPUBLISHES HIS ARTICLE ON WHY CAPITALISM IS TOO COMPLEX AND VOLATILE TO STRUCTURE THE RELATION BETWEEN VALUE AND PRICE.
July 6, 2026 2 Comments
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THEPLANNINGMOTIVE.COM 
“All sciences, except it seems Marxism, are allowed to abstract or simplify their inquiry to map out the basic structure of the phenomenon under examination.” Very correct. If William Jefferies says that Capitalism is too complex and chaotic to study its foundations (abstraction), it’s because he hasn’t read Marx, of course. Or any other capitalist economist of political economy. Which is impossible, so his objection is incomprehensible. Indeed, all knowledge, including scientific knowledge, must study the surface, the concrete, the particular aspects of the observed phenomenon, but it must also study its foundations, its background, its abstract nature. Abstraction equalizes and makes it easier to understand the elements that appear unequal and scattered on the surface. I do this in the theory of CERs (Relative Equilibrium Control). It’s true that I provide a lot of concrete evidence of revolutions, almost becoming a historical encyclopedia of them (socialist, capitalist, feudal, and slave-owning), covering their relevant political and economic events. But it’s also true that an entire chapter of the book is dedicated to fundamentals, to abstract theory about revolutions and their effects on production and growth, including macroeconomic formulations. Regarding the book, I hope to have it finished in August, after two moves delayed it. I’ll keep you posted. Best regards.
Look forward to it and finally meeting you. Jefferies is a big disappointment for me.