Date: Wed, 05 Aug 1998 18:14:02 +0100 To: lbo-talk at lists.panix.com From: James Heartfield <James at heartfield.demon.co.uk> Subject: Re: executive pay In-Reply-To: <l03130309b1ee28e1717f@[166.84.250.86]> References: <RHdkVAAfRBy1Mwea at heartfield.demon.co.uk>
<l03130301b1ecf65f2cff@[166.84.250.86]> Mime-Version: 1.0 Content-Type: text/plain; charset="us-ascii"
At 11:29 05/08/98 -0400, you wrote:
>I recognize here on of the LM themes, the capitalists' loss of nerve.
>There's more than a little truth to this in an era of multibillion dollar
>bailouts and generalized coupon-clipping. But the capitalists are still
>revolutionizing production - the industrialization of Latin America and
>Southeast Asia
All new conditions come as tendencies, rather than in black and white, but on the whole, I'm not convinced that the Asian growth wil not be subordinated to Western parsimony. After all isn't that what's happening right now?
I rather wish that there were more growth in Asia. After all the accumulation of capital is the accumulation of its contradictions, too.