[Marxism] Slow motion recession

bauerly at yorku.ca bauerly at yorku.ca
Thu Jul 3 15:00:55 MDT 2008

>>>Capitalism (as opposed to particular capitalist regimes) is in no danger
at all, regardless of economic disasters or triumphs, as long as there
is not a large and militant anti-capitalist, socialist movement. Economic
collapses, far from being in themselves a danger to capitalism are
merely the means by which capitalism is reborn, stronger than before.


I would second Carrol's point and add that the strength of the US is in the fact
that as the economy tailspins into what could be a major recession, no one is
questioning capitalism (articles such as the one sited are propaganda telling
labor to bite the bullet and acquiesce to being pinched).  In fact, the
bourgeoisie has gotten out in front and been the ones calling for 'reform' and
state intervention.

It is also important to point out that no one said the US was omnipotent but
that it was stronger relative to everyone else.  Because of the nature of US
Empire, a crisis in the US is a global crisis.  All of the national statistics
piled up don't grasp the nature of a US led global capitalism (in fact I think
national economic indicators are antiquated and based on Keynesian logic in a
non Keynesian global economy).  This system may be threatened by the
conjunctural downturn, however with out some sort of legitimation crisis of
global capitalism this will only act to devalue capital, thereby weakening some
capitalists and strengthen the rest.


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