Just in time for Davos

[Doug Henwood]

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