The Latest Bourgeois Theory of "Economic Growth"

Abstract

The Declaration of the Conference of Representatives of Communist and Workers' Parties stresses the growing instability of the capitalist economy, the intensification of its anarchy, the continued aggravation of the contradictions of capitalism both on a national and international scale. These facts, the Declaration states, once again refute the lies which the bourgeois ideologists and revisionists spread to the effect that modern capitalism has become ‘people's capitalism’, that it has established a so-called ‘welfare state’ capable of overcoming the anarchy of production and economic crises and ensuring well-being for all working people. This appraisal must be applied above all to Keynesian theory, the main trend in bourgeois political economy in the era of the general crisis of capitalism. The failure of the Keynesian program — which had set itself the impossible task of overcoming the anarchy of capitalist production and delivering capitalism from economic crises while preserving the capitalist so...