[lbo-talk] The end of American capitalism as we knew it

Carrol Cox cbcox at ilstu.edu
Wed Sep 17 14:30:22 PDT 2008


Marvin Gandall wrote:
>


> Capitalism is compatible only with the temporary public ownership and
> restructuring of distressed industries.

Why? This does not seem self-evidfent to me at all. There obviously has to be a huge and varied private sector, but there doesn't seem to be any "natural" tipping point at which state enterprsise growth transforms the system significantly. I see no a priori reason why the entire banking system could not be nationalized without overturning capitalism.

Please explain. I think you vastly underestimate the vitality and flexibility of capitalist social relations -- and the political, cultural, ideological strength embedded in those social relations.

Carrol



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