[lbo-talk] Hits on auto capital keep on coming, esp. to variable capital

Charles Brown charlesb at cncl.ci.detroit.mi.us
Tue May 27 11:24:41 PDT 2008


Avery Ray Colter

If that is true, then why have they been resisting alternative fuels for so long, only going for ethanol in recent years after ADM started backing it, killing electric cars, etc?

^^^ CB: Good question. On one level, it seems like the auto companies were just being "stubborn" and participating in the ideology that Americans are bigger and better than everybody else, with big cars symbolizing that or whatever. On another level, I'm starting to wonder how GM, Ford and Chrysler couldn't figure out how to compete better with Toyota, et al. I wonder whether there wasn't a kind of collusion between industrial and financial capital to achieve exactly this result of busting the wages of auto workers down, in half for the next generation of auto-workers. The auto exec's are stilling getting their fortunes, golden parachutes or some sort.

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