--- Dennis Robert Redmond <dredmond at efn.org> wrote: > On Wed, 25 Jul 2001,
Kelley Walker wrote:
>
> > have you read legitimation crisis? how about the stuff on social
> > movements? how about the historical sociology of the public sphere?
>
> Sure have. They're pretty good as a portrait of Central European social
> democracy in its full Brandt-era bloom -- but pretty far from an analysis
> of Eurocapitalism, the Eurostate,
dennis, mate, you're in danger of getting to the stage we in the market know as "caught up in your model". Of course he doesn't have "an analysis of Eurocapitalism", nobody does. On this entire list, I'd wager that the only two people who give a fuck about Deutsche Bank are you and me, and I'm paid to.
> or its constituent components; his frame
> of analysis is the welfare-state, ethnically homogenous nation-state.
> We're living through the tumultuous birth-hour of a variety of global
> public spaces, so there are probably places where his stuff is useful, but
> only Pierre Bourdieu has gone the distance towards a genuine
> Eurosociology, with all these wondrously subversive and useful categories
> like the habitus, the field, symbolic capital and symbolic domination,
> etc., concepts capable of taking on trillion-euro beasts like Deutsche
> Bank on their own turf.
Deutsche is not a "trillion euro beast" in terms of profits or market capitalisation. Even the balance sheet figure, which does top EUR1trn is hugely exaaggerated by a repo book, the vast majority of which is an economic nullity. In terms of lending to the wider economy, Deutsche swings no more than an average sized bat.
And in any case, where is Deutsche's "own turf"? The European capital markets?
Goldman Sachs has a higher market share in Europe than it does in the USA. There is a very real question about whether there will be *any* non-American survivors in global banking. The Germans in particular are utterly unable to finance growth internally. I really think you're barking up a wrong tree on this one.
dd
>
> -- Dennis
>
===== ... in countries which do not enjoy Mediterranean sunshine idleness is more difficult, and a great public propaganda will be required to inaugurate it. -- Bertrand Russell
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