On Nov 10, 2008, at 10:38 AM, Patrick Bond wrote:
> No comrade, let me rephrase like this: shouldn't part of the task of
> a left in such a period be to point out that the Volcker is another
> neolib/dereg'er, oriented to maximising financial power?
If you can't see a difference between Volcker and Greenspan, I give up.
I'll try this tack. Why *financial* power? Why not capitalist power? Fortune 500 CEOs were just as happy with Volcker as Wall Streeters were. He broke working class power in the U.S. and helped open the "developing" world to foreign investment. While there was some opposition to Volcker coming from the petty bourgeoisie, there was none at all from big capital. There was no finance/industry split.
Doug