Wall Street

Henry C.K. Liu hliu at SPAMmindspring.com
Sat Mar 17 15:55:39 MST 2001

Environmental restoration is a form of consumption.  I mention education, which I
believe is still non-polluting.  Since the world is saddled with overproduction,
increased consumption does not necessarily lead immediately to more production.
Also, I am not advocating a disparity of income between the core and the
peripheral, nor am I advocating polluting consumption.

The fact remains that due to neo-liberal policies of the like of Larry Summers,
the environment in the core is in better shape than in the peripheral where
consumption is low.

This thread began as a request for an explanation of a narrowly define question -
a "marxist" perspective of the bubble.


Mark Jones wrote:

> Henry wrote:
> >Why is capital so fearful of fair wages?  Is it not time to face facts and
> recognize that wages drives consumption and in a world of structural over
> capacity, high wages is good economics?<
> Keynesian reflations are more likely to produce inflation than growth in
> consumption standards during cycles of falling profit, and capitalism has been
> locked into such a downswing (admitting counter-tendencies) since 1973 at
> least. This does not go to the underlying problem.
> What's more, any substantial increase in mass consumption levels in the
> peripheries would immediately run into a more serious underlying problem:
> shortage of water, food and above all, energy. There is no real scope for
> expanding energy production even to cater for the 1.7% p.a. increase in
> production needed (other things being equal) to provide for continuing
> population growth.
> And what would be the enviornmental and climate effects of substantial
> increases in mass consumption levels? Raising this question is not
> misanthropy, it is to point to a very real issue which the Left either ignores
> or does not address properly. It is no good compartmentalising our politics,
> and arguing in one place against global warming and ecocide, and in another
> for increases in human impacts on the environment.
> Mark

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