>>The ideas that nothing has changed since Lenin is just intellectual laziness and a refusal to admit that things change at best and dogmatism at worse.
GMAC not GM is the master of GM. GMAC is GM. . Dude, its all finance capital.<< I'm not sure I'm following your arguments. One, who here has said that nothing has changed since Lenin? Two, who here has said we should ignore 'finance capitalism' and speculation? Three, the categories you are talking about are analytic ones, not ontological ones. I'm not even sure they get to the psychological motive of most capitalists. They simply describe the way capital functions in the transformative social process. Often investors have only one motive (they have been all but guaranteed a 12-20% annual return on their investment, even more if the window given is 3-5 years). Their money goes towards industrial and financial ends. In times of a bubble, since everyone wants that 12-20% return they put their money into whatever they think will get them that higher return. If manufacturing cars in Detroit would get that--or at least convince them it could get that--they would put their money there. Consider the Madoff scandal. Two years ago he was one of the go-to guys who could get investors that high rate of return. Now he is an alleged Ponzi scheme broker. What is the difference between now and two years ago? No one believes in his scheme anymore. I'm not sure if such speculative craziness goes all the way back to the Tulip Bubble, but it has been in world capitalism for quite some time. It's main attraction? The higher rate of return promised. Why do people become convinced? Because they saw so-and-so and so-and-so-and-so get 20% last year. Whether it is individual investors or CALPERS or Harvard, the thinking is the same and is exploited the same. So could you re-state what you are trying to argue here? I just don't get it. CJ _______________________________________________ Marxism-Thaxis mailing list Marxism-Thaxis@lists.econ.utah.edu To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis