[lbo-talk] literacy

Alexander Nekvasil a8504902 at unet.univie.ac.at
Sun Oct 26 11:13:20 PST 2003


Miles Jackson <cqmv at pdx.edu> writes:


> I'd like to argue just the opposite: a thriving
> capitalist society requires independent and innovative
> thought and action.

Capitalism is not healthy in our day. It runs on simulated growth (example from this week's _Economist_: "Waking from the dreamy 1990s, investors discovered that G[eneral] E[lectric] was not, after all, a smooth earnings machine that pumped out profit growth of 16-18% a year, but a collection of mature industrial assets bolted to a fast-growing, opaque, and highly leveraged finance business.").

Obviously, such a situation requires skillsets very different from those deployed by the ascending bourgeoisie in the 17th century. In the above, the _Economist_ indicates that "dreamyness" is the skill to have while the bubble builds, for instance.

cheers AN



More information about the lbo-talk mailing list