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MARXIAN ECONOMICS |
 | | To justify their newly-found position and alleviate the fears of the middle classes, they retreated from the breakdown theory and embraced the revisionist idea of socialism being a "conscious choice" of the proletariat, not an inevitable outcome. |
 | | The great exceptions were Henryk Grossman (1929) and Otto Bauer (1936) who set forth a new (and more formalized) "breakdown" theory arising from underconsumption. |
 | | With the exception of the unlucky Schumpeter, the rival Austrian School economists, most of whom had played important roles in the pre-1918 Hapsburg public life, withdrew into the harbor of private businesses and chambers of commerce and observed the procession of events. |
| cepa.newschool.edu /het/schools/marxian.htm (2381 words) |