[Marxism] New Deal: Racism, and imperialism

Louis Proyect lnp3 at panix.com
Thu Dec 25 12:11:01 MST 2008

Mike Friedman wrote:
>But, we don't have a favorable "New Deal" balance of forces and the rulers
>don't have the prospect of unfettered growth and expansion into the
>devastated post WWII allied and enemy markets that the U.S. rulers had,
>nor the perspective of another world war to clean out the clogged profit

This is a super-important point. The irony is that while the 30s were 
more devastating from the point of view of working-class 
immiseration, American capitalism had a lot more "play". The auto 
industry, to take just one example, was in its relative infancy while 
today it is in its dotage. In 1938 workers struck for union 
recognition using very militant tactics and were led by 
revolutionaries. Today auto workers are facing much deeper threats 
than in 1938 and have no appetite for a sit-in, at least for the time 
being. What good does it do to sit-in when the bosses can simply go 
out of business? But there is a limit to liquidating GM and various 
other manufacturing companies. In the long run, it weakens the US 
economically since the financial sector has been "played out" 
completely. The bottom line is that a repeat of the 1930s type 
solution to capitalist crisis is pretty much ruled out. I have deep 
respect for Anthony's acumen but I don't think that Obama can pull of 
a new New Deal. 

More information about the Marxism mailing list