The Welfare state and the third world

Rahul Mahajan rahul at peaches.ph.utexas.edu
Thu May 2 18:36:47 MDT 1996


>Rahul wrote:
>
>>I don't know anything about the Swedish budget cutting, which is why I
>>asked. In the US, it goes considerably beyond any reasonable cost/benefit
>>calculus. In fact, some of it seems almost designed to hurt corporate
>>profits in the long run.
>
>Rahul, old son, the organic nature of *capitalism* itself will hurt
>corporate profits in the long run -- that's the whole point of Marx nagging
>about the tendency of the rate of profit to fall and the relations of
>production becoming a barrier to the forces of production.
>
>By the way, is it your conviction that capitalism, sanely managed by a
>group of savvy (Austro-)Marxists, could in fact be run in equilibrium and
>as such survive for ever?
>
>Cheers,
>
>Hugh


Hugh, old bean, vague nonsense is no substitute for analysis. All your
triumphalist rhetoric aside, there is no reason that capitalism has to
collapse. It has in fact proven extraordinarily effective in defending
itself against its inherent contradictions. Besides, by "long run," I
didn't mean until the millennium, when Lenin, sitting at the right hand of
Jesus, will raise all the communist martyrs from their graves, but merely
within the next generation or so.

Rahul




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