My question below:
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Anthony P. D'Costa
Associate Professor Ph: (253) 692-4462
Comparative International Development Fax: (253) 692-5718
University of Washington Box Number: 358436
1900 Commerce Street
Tacoma, WA 98402, USA
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On Wed, 21 Mar 2001, Jim Devine wrote:
> Date: Wed, 21 Mar 2001 14:11:11 -0800
> From: Jim Devine <[EMAIL PROTECTED]>
> Reply-To: [EMAIL PROTECTED]
> To: [EMAIL PROTECTED]
> Subject: [PEN-L:9300] Re: Japan
>
> At 04:36 PM 3/21/01 -0500, you wrote:
> >Ellen Frank wrote:
> >
> >>First, most of the Japanese banks are insolvent
> >>by US standards
> >
> >So the government should buy their worst loans and hive off the less-bad
> >stuff and sell it to vultures. They could do it without disturbing the
> >class structure significantly. How can a capitalist class sustain itself
> >over the long term if it's not accumulating any capital?
>
> I don't think this proposed change "disturbs the class structure" as much
> as it goes against individual capitalists' particularistic self-interests.
> It's the latter that most often dominates capitalist politics. It's true
> that they unite and suppress individual differences and factional conflicts
> when they feel threatened by working-class power, while it's true that they
> all share the interest of maintaining capitalist power & privilege. But the
> latter isn't threatened and the former isn't happening. So they squabble
> amongst themselves. [This isn't really any different from the standard
> pluralist interpretation of politics, except that they leave the assumption
> that there's no threat from workers implicit.]
>
> I would guess (note the verb) that there's a deadlock between those
> neoliberals (at the Bank of Japan?) who want to remodel the entire
> financial system in the US mould and those who are trying to preserve
> individual positions...
But what brings about this actual "neo-liberal" transformation (at the BOJ
say), given that BOJ and the entire kereitsu system pretty much rejected
the neo-liberal, Anglo-Am model?
>
> Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine
>
>
