Role of the state

Doug Henwood dhenwood at
Wed Feb 22 11:00:56 MST 1995

At 9:18 AM 2/22/95, Louis N Proyect wrote:

>There's something of the same notion in Lyotard's "Postmodern Condition"
>whre he states "Already in the last few decades, economic powers have
>reached the point of imperiling the stability of the State through new
>forms of the circulation of capital that go by the name of multinational
>corporations. These new forms of circulation imply that investment
>decisions have, at least in part, passed beyond the control of the

Why do froggies *have* to write like this? "That go by the name..." Give me
a goddam break.

>Granted that Lyotard is not part of the Marxist left, I stil am
>interested in finding out who else of note holds to this point of view.
>Is this something that is widespread in "post-Marxism". Does anybody on
>this list agree with Lyotard and such views?

I did a schtick at the NY Marxist School a while back arguing that one of
the reasons we see currency crises these days is that investment and
commerce are increasingly organized internationally while politics and
money (e.g. central banks, which are the political form of money) are
organized nationally. Currency crises, like Mexico's or the ERM's or the
various US$ melodramas, are the manifestations of imbalances in trade and
capital flows. I think this is why Kapital needs international state
institutions, and why the IMF and BIS are growing in importance - because K
can't exist without a state to discipline and support it.



Doug Henwood
[dhenwood at]
Left Business Observer
250 W 85 St
New York NY 10024-3217
+1-212-874-4020 voice
+1-212-874-3137 fax

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