[Marxism] finance and planning?

Andrew Pollack acpollack2 at gmail.com
Thu Dec 1 10:09:21 MST 2016

As far as I can tell, Mason's proposals for the financial sector as a
potential savior are no more progressive than those currrent in the
mid-1930s, such as "social credit"; see:
https://www.marxists.org/archive/novack/1934/11/utopia1.htm (George Novack
writing under a pseudonym).

Which, on further digging, is no surprise, Mason being a defender of David

On Thu, Dec 1, 2016 at 8:57 AM, Andrew Pollack <acpollack2 at gmail.com> wrote:

> There's a new article at Jacobin entitled "Socialize Finance: We already
> live in a planned economy. Why not make it a democratic one?"
> Unfortunately the article is about pretty much everything except that.
> It has much useful information on how finance currently functions, and
> speculation on how it could be reformed under capitalism, but virtually
> nothing on how a socialist democracy would use finance for planning.
> As I've said before, the hypermegasupercharged computers currently used to
> trade stocks are far, far more powerful than would be needed to allocate
> resources and plan for the future from the shopfloor to the world as a
> whole. And in fact those computers used by logistics and retail giants
> already have a handle on the distribution and production steering wheels.
> Expropriation of the big banks would allow conversion of current financing
> computations into qualitatively simpler, product-by-product calculations
> aggregated up to a society-wide plan - one voted on in essentials at the
> lowest possible level, from central government down to
> factory/office/neighborhood.
> From calculating safe and equitable healthcare and education
> worker-per-student/patient ratios, to calculation of a minimum wage that
> would allow sufficient household income for fulfilling lives, it ain't
> rocket science.
> https://www.jacobinmag.com/2016/11/finance-banks-
> capitalism-markets-socialism-planning/

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