The major places in the world with sustained economic booms are China, India and Russia. Russia has seen 10% growth in real wages every year since the 1998 collapse. Where is the rising anticapitalist movement in those countries?
Russians have seen a greater rise in living standards in the past 5 years than in the last two decades of the Soviet Union. Why on Earth would they rebel?
--- Carrol Cox <cbcox at ilstu.edu> wrote:
>
>
> joanna wrote:
> >
> > Several of the world’s biggest banks are in talks
> to put up about $75
> > billion in a backup fund that could be used to buy
> risky mortgage
> > securities and other assets, a move designed to
> ease pressure on a
> > crucial part of the credit markets that threatens
> the broader economy.
>
> We should hope it works. A huge crash would give
> _some_ hurt to a large
> number of not-so-big capitalists, and perhaps to one
> or two big
> capitalists. But it would hugely hurt working people
> and be of no great
> use to the left. What leftists need is a _real_
> sustained boom to
> create another revolution of rising expectations and
> the margin that
> working (including 'middle') class people need to
> devote energy to
> political activity.
>
> Carrol
>
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>
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