>Carrol Cox wrote:
>
>> It is at least arguable that the first impact of a serious global
>> deflation will be the utter collapse of any left forces around. The left
>> (scattered marxist, marxist influenced, and non-electoral progressive
>> groups) has made some gains during the present boom, but those gains have
>> not even begun to make up for the destruction of any organized left in
the
>> U.S. following the 1974-75 slump. The left flourishes most during the
>> period of recovery from a deep slump -- but even then it cannot gain
>> unless during the slump whatever scattered left there is around has
>> grouped itself around a non-electoral program (program, not merely verbal
>> posturing) and sharply differentiated itself from such enemies as the
>> Democratic Party.
>
>Of course this is exactly the opposite of what happened when the 1920s
>boom collapsed. The left had almost disappeared (due first to WWI
>repression and the Red Scare that followed, but then to corporate
>consolidation during the boom) but came roaring back in the bust that
>followed.
>
Yes, but there's a big difference between a boom and bust soon after the Russian Revolution, and a boom and bust following the collapse of "actually existing socialism".