>
> On Feb 24, 2009, at 2:56 AM, Patrick Bond wrote:
>
> Yes, sustained overaccumulation in the US manufacturing sector is to blame
>> for subsequent periods of relatively low investment. We've been saying all
>> these things for some time - are you just getting it now, Doug? Join us!
>>
>
> This is preposterous. The U.S. manufacturing sector has been shrinking in
> relative terms for decades. A lot of Marxoids will tell you that's the
> fundamental problem - there's no real value production, just unproductive
> stuff like retail and finance. Now we learn that there's too much capital in
> manufacturing.
>
> Doug
>
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>
I still think that there's still too much confusion around Brenner's argument in this regard. According to him its not to do with over-investment in manufacturing being too great in the US... its to do with over-investment - and hence, overcapacity - in the international sphere in general that's the main problem.
If there were a structural problem with international capitalism wouldn't this tie in both the over-accumulation (on an international level) and the "economic deferral" within the main capitalist power (on a national - i.e. US level of profit with regard to "fictitious capital"?
Its a question. But lets answer it.