The valuations as determined by the machinations of the stock market are how capitalists understand their own successes and failures. It is the realm where owners pass judgment on all manner of social events and their expected impact upon the earnings of capital. Recently the value of Toyota has been soaring, while GM is famously in the doldrums. Activists/revolutionaries/leftists should try to understand what is going on beneath these movements.
One of the most important lessons we can learn is that the capitalist class is far from homogeneous. The market divides winners and losers. Dominant powers have long capitalised (literally) on the divisions they can sow among the diverse members of the resistance class. Perhaps we can take a page from their playbook and return the favour. It is the market that will provide clues as to where the points of conflict are at their most intense. Jim Devine <[EMAIL PROTECTED]> wrote: does everything have to be relevant to political action? me: > If the stock market were to be > open 1 day a week, it would serve its purpose for capitalism without > all the useless brouhaha. Doug: > No it wouldn't. The whole point of the stock market is to make > private claims on social wealth readily tradable and immediately > liquid, at least in potential. Yes, the daily gyrations are > economically meaningless, but having the means of production up for > constant sale is at the root of modern capitalism. On 3/1/07, Charles Brown wrote: > CB: What significance does this have for political action ? -- Jim Devine / "The truth is more important than the facts." -- Frank Lloyd Wright --------------------------------- The best gets better. See why everyone is raving about the All-new Yahoo! Mail.
