[Marxism] "Cast aside illusions!” Crisis dee =?win...

Waistline2 at aol.com Waistline2 at aol.com
Fri Mar 6 23:09:14 MST 2009


In a message dated 3/6/2009 9:26:34 P.M. Eastern Standard Time,  
sabocat59 at mac.com writes:

So what wopuld you call this new animal? Global finance  corporatism?

Greg McD
 
 
Reply
 
I tend to shy away from attaching the word corporate to this new animal,  
because corporate implies surplus value. Or rather this animal with a new skin.  
Corporations and monopoly most certainly exists but the idea is to try and  
capture the spirit of the new world of financialization. 
 
Speculative capital as dominator of the financial capital regime. 
 
Dominator implying a decisive sector/form of capital writing the  economic, 
social and political agenda for the world total capital. At each  juncture of 
the development of capitalism and the industrial system a form of  capital 
dominates and its corresponding political representatives write the  agenda for 
capital . . . the country. 
 
Speculative capital is not a "separate category" to be treated as so fixed  
rigid entity. 
 
Had industrial capital continued to dominate America politically after the  
Civil War, rather than Wall Street finance capital, Wall Street Imperialism,  
political shift in the country would have probably been delayed into the early  
1900's. The domination of Wall Street finance capital over industrial capital 
 took place on the basis of financing the Civil War and did not mean the  
abolishing of "industrial" or productive capital. 
 
Another example of the shift in the form of capital and the  political/social 
consequence was the transition from the agrarian  bourgeoisie (capital) to 
the industrial bourgeoisie, which in the last instance  was case of the Civil 
War. 
 
This is not to say I am hung up on a name as long as we inch closer to  
capturing reality and concepts that mirror this moment of time. 
 
WL. 
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