He says 'Conservatives will accuse you of nationalizing the financial system, and some will call you a Marxist. (It happens to me all the time.)' sticks and stones. Marxist seems to be a swear word. He also wants to nationalise the banks for a while and rejuvenate them and give them back to the private sector. The only revolution occurring in mainstream economic thought is moving from 2-3 years short term bookkeeping and budget balancing to 10-20 years bookkeeping of infrastructural investment and redistribution repaying long term public debt by long gestation investment and maintaining capital accumulation at lower but longer term assured profit rates. It says nothing about an immaterial social relationship dictating the course of capital accumulation for maintaining bourgeois power. It says nothing about time outside the chronology of accounting where qualitative social events mark clear departures from the past. It is not meant to socialise capitalism because capitalism cannot be socialised by stealth- it has proven too smart for that already. Helping the poor to buy from the rich will lead nowhere, especially when competition or ‘the war of each against all’ intensifies and devours the poor themselves. And most importantly what only a third world-ist can see is that servicing a trillion dollar debt at 30 billion a year or 1.2 percent of current budget can only be a luxury possible by imperial rent or war booty-the or is inclusive.
________________________________ From: Julio Huato <[email protected]> To: [email protected]; Lbo Talk Lbo Talk <[email protected]> Sent: Tuesday, January 20, 2009 8:45:17 PM Subject: [Pen-l] Krugman to Obama: This is what you should do http://www.rollingstone.com/politics/story/25456948/what_obama_must_do _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
_______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
