[Marxism] More on why workers no longer strike, and why owners of capital act with virtual impunity

Andrew Pollack acpollack2 at gmail.com
Sun Jan 6 21:29:09 MST 2013

When someone posted Hudson's tomfoolery on a Strike Debt list (SD is
the successor organization to OWS), I posted the reply below.
Unfortunately some of the Strike Debters, while wonderful people and
dedicated activists, don't yet have the theoretical tools needed and
are way to open to any theory that mentions debt or finance, and have
little or no interest in hearing about Marxist economics. A couple
years ago I thought the MR economists had gone overboard with their
promoting of finance to all-determining factor. OWS and SD took that
to a ludicrous extreme.
Somehow they latched on to David Graeber's theory of debt as the
explanation for everything. And, as I pointed out to the list
recently, they don't even see (yet) how that contradicts theories of
some of their own supporters, such as Silvia Federici or George
Caffentzis, both of whom have written amazing stuff (even though I
don't completely agree with all of Silvia's claims).
I wrote to the SD list:
"Hudson is widely cited on the Left, for better and worse.
Re his claim that "Indebting labor means that it no longer is
necessary to hire strikebreakers to attack union organizers and
strikers." You've gotta be shitting me. Has he read nothing about all
the labor battles that occurred this year around the globe, and the
corporate/government repression of them (as well as the antilabor laws
and politicians that stopped there from being more)? see
As for his claim about finance running the show, see this alternative
picture of what's happened the last couple years:
Also see
Which says, correctly: "The changing role of finance in the economy in
recent decades can, in our view, best be captured, not by the idea of
dominance by the financial sector, but by the concept of
'financialization,' which suggests an expanding role for finance in
economic activity."
The author, David Kotz, has spent his entire career studying finance
capital, and interlocking directorates of banks and corporations."

On Sun, Jan 6, 2013 at 11:19 PM, Ralph Johansen <mdriscollrj at charter.net> wrote:
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