[lbo-talk] Crunch time for US capitalism?

Doug Henwood dhenwood at panix.com
Sun Dec 5 10:32:14 PST 2004


Marvin Gandall wrote:


>There's no assurance all these broken eggs would result in a
>satisfying omelette, either; there is no longer even a coherent left or
>self-conscious working class as there was in the 30s.

But the hope of many crisis fans is that the collapse will finally bring about that class-conscious left. That's delusional, I think, but it's a common belief.

There are also some weird affinities between crisis Marxists and libertarians/Austrians. Both camps think that state bailouts just can't work, and the crunch has to come - someday. That position makes sense for the right, which sees the state as some external imposition on the beauties of the market. For Marxists, who presumably understand the role of the state as enforcing a ruling class agenda, it's mysterious.

Doug



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