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Liquidationism

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Liquidationism

Usage in Marxist Theory

Liquidationism is a term in Marxist theory which refers to the ideological liquidation of the revolutionary party program by party members. According to the Russian revolutionary Vladimir Lenin, liquidationism "consists ideologically in negation of the revolutionary class struggle of the socialist proletariat in general, and denial of the hegemony of the proletariat".[1]

Usage in Economics

An alternative use, entirely unrelated to politics, of the term Liquidationism denotes the belief in economics that no actions to mitigate the effects of recessions should be taken by the government or the central bank, but, rather, that the "temporary pain" of companies being liquidated, on account of crises, is a solution in itself. This in no way relates to communism and is thought by many Austrian economists to be necessary as a view on recessions and depressions. In their view, the intervention caused the recession/depression in the first place and so more of the same intervention is the worst course of action. [2] [3]

See also

References

  1. ^ The Liquidation of Liquidationism Marxist Internet Archive, July 11, 1909. Retrieved: August 22, 2010.
  2. ^ Banging the liquidationist drum The Economist, November 4, 2008. Retrieved: December 15, 2012.
  3. ^ Mitt Romney, Liquidationist The New York Times, September 15, 2012. Retrieved: December 15, 2012.

 

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