[lbo-talk] it's over - now the destruction really begins

Patrick Bond pbond at mail.ngo.za
Sun Mar 8 21:08:49 PDT 2009


Doug Henwood wrote:
> With war, you basically have a sample size of 1: the Great Depression
> leading to WWII. Otherwise, we've had devalorizations with nothing
> like world war. In the late 19th century U.S., we had deflation
> coexisting with huge industrial investment.

Ah, then you would have missed late 19th century European colonialism. But other serious scholars of capitalism, like Hobson and Luxemburg, make it central to their explanation of the way that era of crisis played out. In my 'hood, for Cecil B. Rhodes the overaccumulation in the 1870s London and Paris financial markets was a godsend, and we know the extent to which he resorted to war to play a geopolitics of accumulation (historian Ian Phimister writes brilliantly about this).


> ... To the ruling class, riots are just the downtrodden blowing off
> steam. The cops can take care of them. If they lead to systemic
> instability, or worse, revolution, that's another thing. But riots
> come and go.

And often go inward, too. No one is promoting IMF Riots, don't worry.

Sorry I can't get to all the others - post limits... and off to work.

Ciao, P.



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