I think this analysis is really important and is relvant the Australian context also. Here,the opposition to the Federal government and Business Council austerity prescription for the economy, is strong but it is built on the assumptions of Keynesian economics. In the past week I have had brief and friendly exchanges with union comrades who hve been praising Keynesian journos and commentators. I understand why: in Australia we are constantly desperate to find and promote those who oppose the barrage of neoliberal / austerity capitalist dogma that is our daily bread. Any port in a storm, so to speak. But, this is not good enough. Analysing the interactions between investment, profit, incomes etc – but at last foussing on investment is a gap that must be filled.
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