Capitalism; Imperialism; Saving and investment; Socialism
There can be no doubt that the 'legalist' Russian Marxists achieved a
victory over their opponents, the 'populists', but that victory was
rather too thorough. In the heat of battle, all three--Struve, Bulgakov
and Tugan Baranovski--overstated their case. The question was whether
capitalism in general, and Russian capitalism in particular, is capable
of development; these Marxists, however, proved this capacity to the
extent of even offering theoretical proof that capitalism can go on for
ever. Assuming the accumulation of capital to be without limits, one has
obviously proved the unlimited capacity of capitalism to survive!
Accumulation is the specifically capitalist method of expanding
production, of furthering labour productivity, of developing the
productive forces, of economic progress. If the capitalist mode of
production can ensure boundless expansion of the productive forces, of
economic progress, it is invincible indeed. The most important objective
argument in support of socialist theory breaks down; socialist political
action and the ideological import of the proletarian class struggle
cease to reflect economic events, and socialism no longer appears an
historical necessity. Setting out to show that capitalism is possible,
this trend of reasoning ends up by showing that socialism is impossible.
The three Russian Marxists were fully aware that in the course of the
dispute they had made an about-turn, though Struve, in his enthusiasm
for the cultural mission of capitalism, does not worry about giving up a
useful warrant.[329] Bulgakov tried to stop the gaps now made in
socialist theory with another fragment of the same theory as best he
could: he hoped that capitalist society might yet perish, in spite of
the immanent balance between production and consumption, because of the
declining profit rate. But it was he himself who finally cut away the
ground from under this somewhat precarious comfort. Forgetting the straw
he had offered for the salvation of socialism, he turned on Tugan
Baranovski with the teaching that, in the case of large capitals, the
relative decline in the profit rate is compensated by the absolute
growth of capital.[330] More consistent than the others, Tugan
Baranovski finally with the crude joy of a barbarian destroys all
objective economic arguments in support of socialism, thus building in
his own spirit 'a more beautiful world' on an ethical foundation. 'The
individual protests against an economic order which transforms the end
(man) into a means (production) and the means (production) into an
end.'[331]
Public-domain text, read in full here on John Shaqi.
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