From: Jim Devine Max Sawicky: > You'd have to look for a while to find an economist who would say > capitalism will be no more.
Charles Brown: > Was there a threat to the > system if the Wall Streets banks > had failed, or was that a false > and misleading claim by whoever > claimed it to get the dough ? how can capitalism go away (and "be no more") without a mass movement ready to replace it with something? ^^^ CB: Yes, I agree with you. There is a danger of "barbarism/fascism" in deep capitalist crisis. Without a working class highly organized, including with a Party with Leninist level of discipline, program, depth of theory, etc. to lead it, there would be no socialist replacement of the system But, I didn't say capitalism would be no more. I asked if there was a "systemic threat" , as some bourgeois ideologues claimed, I believe. If those several Wall Street financial institutions had been allowed to fail would there have been a systemic threat, as some who sought a bailout for the Wall Street financial corporations claimed ? What would have been more of the specifics of that "systemic threat" ? ^^^ I guess we could have Hobbesian anarchy for awhile, but eventually capitalism would reemerge (unless people create an alternative). ^^^ CB: Are you thinking that if those Wall Street corporations had not been bailed out, the US state would have collapsed , and there would have been a state-less society for a while ? ^^^^ Capitalism can be in deep doo-doo for a long time (as in the 1930s) without going away. The Wall Steeters were probably exagerrating to get the dough, but there was also a real financial crisis. ^^^ CB: So, the cries of "systemic threat" were Chicken Little like. I don't think critics of capitalism should drop analysis and discussion of what went down in those Wall Street bank failures. We should keep thinking ecomomists attention the Great October events of 2008. Write books, hold conferences, do an accounting on behalf of "The People".. Michael Moore should make a movie about the $8 trillion . We should never hear "moral hazard" from the right wing economists again. This message has been scanned for malware by SurfControl plc. www.surfcontrol.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
