Just in time for Davos

Doug Henwood dhenwood at panix.com
Tue Feb 6 08:56:54 PST 2001


Yoshie Furuhashi wrote:


>I have one question concerning the last sentence here. It seems to
>me that had "the nationalist-industrialist form and ideology of the
>post-World War II Japanese state" been "based on Japanese capital's
>complete domination of the Japanese working class," _by now_ the
>state & capital would have embarked upon a far more drastic
>restructuring of social relations along the neoliberal line than has
>been the case.

The Japanese r.c. has also been very slow to socialize the losses in the wake of the bubble. Compare the U.S., where the S&L bailout spent some $200 billion in public money with hardly any debate, and where hedge funds are deemed too important to fail.

Doug



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