[lbo-talk] global stimulus: "colossal"

Wojtek Sokolowski swsokolowski at yahoo.com
Sat Mar 14 06:07:59 PDT 2009


[WS] I think it is more than just legitimacy concerns. Elite is not homogenous, there are various conflicting interest groups. These groups need grunt support to maintain their status vis a vis other groups. A good example is war which typically pushes elites to make concessions towards the working class to secure its support of the war effort.

A more accurate model of elite-grunt relationship is a partially symbiotic and partially parasitic system of mutual dependecies in which the grunts are a junior partner, but partner nonetheless. Elites need their actual support, not just passive consent, to maintain their position. The grunts in turn need elites to obtain different perks. US machine politics is a good example.

Wojtek

-----Original Message----- From: Doug Henwood <dhenwood at panix.com> Sent: Saturday, March 14, 2009 7:11 AM To: lbo-talk at lbo-talk.org Subject: Re: [lbo-talk] global stimulus: "colossal"

On Mar 14, 2009, at 12:15 AM, Michael Smith wrote:


> Doug, this is not a rhetorical question, though
> I know it sounds like one. Do you believe that the
> elites care about the provision of jobs and the production
> of goods?

Economic elites care about it to the degree that if it implodes - meaning more than an ordinary recession - profits and asset values will implode. Political elites, if they have to be elected, have to care about it so some degree if they want to get elected. Both sets of elites have to worry about maintaining political legitimacy at a fundamental level. So yes, at that level, they have to care, though they'd probably rather not.

Doug ___________________________________ http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk



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