I dont know if a certain engagement "would pay off even in activistism's own pragmatic terms" right away at least, but it would certainly make things more interesting for some of us and help build stronger movements over the long haul.
Italy, which has arguably the most vibrant activist community in Europe, has a lot of accumulated resources which help account for a more organic left: daily newspapers well to the left of the Nation, hordes of lively social centers, a powerful ex CP and left union base etc all of which make broader conversations possible.
Dave
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