On Sat, May 31, 2014 at 5:00 PM, Marv Gandall <[email protected]> wrote:
> It’s not “linear thinking” which underlies the recourse to monetary rather > than fiscal policy in the US, or any other failure of thought or imagination. > The capitalists and the wealthy typically favour monetary easing because it > stokes stock, bond, and property markets; state deficit spending, on the > other hand, conjures up the spectre of higher taxes and increased capital and > labour costs down the road without any assurance of offsetting increases in > profits. As the US government is relatively less autonomous in relation to > its powerful capitalist class than is the Chinese state to its smaller > emergent one, it consequently has less freedom of action to more directly and > forcefully intervene in the economy, even were there the will to do so. This > thought seems to have eluded Roach. ============= "Workers spend what they get; Capitalists get what they spend." [MK] "You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due. " [DC to PO'N] Happy contortioning. The State is always-already intervening in-constituting "the economy". 24/7/365. There's a 'civil war' going on in the giant High School that is the USA today. It's just being waged with monetary circuits instead of muskets and cannons. Don't expect 'the economists' to give you an adequate picture of the scale of the nightmare. It's as though we're a society that doesn't want to be a society; we're trying to operationalize Margaret Thatcher's claim. E. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
