On Apr 6, 2009, at 2:18 PM, SA wrote:
> It goes of a piece with Brenner's tendency to write about this
> period using language that seems to suggest that the capitalists
> have spent the last 25 years in a constant state of panic over the
> creeping stagnation enveloping capitalism....whereas I've mostly
> noticed them having a great time and being suffused with confidence.
This is also the beef I have with Patrick Bond. Capitalists have had a big old time of it more or less since the great bull market took off in August 1982. Labor was crushed and profits began a long uptrend. But wait! says a certain breed of Marxist - profits are not up, if you adjust them properly. But that assumes that the capitalists are too stupid to understand how poorly they're really doing. It's as if they're subject to a special version of the money illusion.