[Marxism] Atilio Borón: From infinite war to =?win...
sartesian at earthlink.net
Sat Apr 4 21:56:45 MDT 2009
Couple of things:
I think we are mostly in agreement on the critical points-- although I think
overproduction is still in fact what goes on, but we have to know what
production, and overproduction is-- the production and overproduction of the
means of production able to exploit wage-labor at a sufficient intensity.
But yes-- what is going on here is the system devaluation of accumulated
capital-- or as you put it, the destruction of value production.
As for China's direct investment in the US-- China does have such direct
investments, concentrated almost exclusively in the financial sector through
use of its sovereign wealth funds. Of course, those funds have been burned,
and to the crisp, by the implosion in that sector, but hey separating fools
from their money is what capitalism is all about.
The "shopping spree" of China in other countries-- 2 recent "grand tours" of
the UK and Europe, didn't really produce such big purchases-- couple
billion here, couple billion there, real money, I know, but nothing
anywhere near the M&A action the bourgeoisie pulled on each other during the
2003-2007 run up.
No, China is not producing real goods in exchange for worthless paper that
then sit and become a drag on the expansion of the market. China is a
contract player, producing real goods, for the purpose of accumulating
capital, just like any other capitalist country. Just like a big fat
maquilladora. The "imbalance" or accumulation of the US denominated
reserves, based on trade surpluses is once again the result, and an index,
to China's own lack of development, the tethering of its population to the
rural economy, and the inability to reorganize that rural production, that
rural property without detonating all the conflicts of uneven and combined
development, without detonating class struggle in both city and countryside.
One critical point you make, and that needs to be reemphasized is that this
predicament of capital will not, cannot be resolved simply by "expanding
markets." First-- because there is no simple "expanding of markets."
Creating the market, expanding it means creating the class relations where
the means of production exist as a private property and confront, and
exchange, labor as wage-labor. But if capital has so overproduced as to not
be able to exploit that wage-labor with sufficient intensity so as to offset
a decline in the rate of return-- then capitalists can only destroy the
means of production, and drive the exploitation of labor below reproduction
levels-- and that is exactly what they intend to do.
Count on it. And that is historically, not faith, based.
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To: <sartesian at earthlink.net>
Sent: Saturday, April 04, 2009 6:46 PM
Subject: Re: [Marxism]Atilio Borón: From infinite war to =?win...
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