[lbo-talk] Subprime crisis - overaccumulation?

Carrol Cox cbcox at ilstu.edu
Wed Jan 16 14:51:02 PST 2008


Marvin Gandall wrote:
>
>
> Both Charles and Woj, in arguing for the subjective factor, acknowledge that
> you need "objective conditions including increased immiseration" and
> "historical conditions"

My own sense is that "what you need" is the opposite of "immiseration," which merely individualizes (fragmens) the working class in the scurry for survival. What you need is a "revolution of rising expectations," which, of course, can occur within considerably misery.It was only in the '50s or '60s that the phrase was coined, but I believe it also applies to the French and Russian Revolutions as well as the CIO upsurge of the '30s (which occurred after FDR had provided some hope though only small material gains).

We just don't know what kind of a party we need, and as you say it's pretty trivial merely to recite the fact that we do need a party.

Carrol



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