[lbo-talk] Roubini, March 5

Carrol Cox cbcox at ilstu.edu
Sat Mar 14 16:04:26 PDT 2009


Mark Bennett wrote:
>
> I enjoy this sort of thing immensely myself, but I don't think fear of
> exposure is high on list of the monied-class' collective mind, presuming
> there is such a thing. Anyone who cares about the fraud has been aware of
> it for a long time;

I don't see where the fraud is. If you mean regular capitalist operations, it is a defense of capitalism to call them fraud. It lets capitalist relations off the hook and pretends that all would be well in the best of all possible worlds if only we could get rid of those scoundrels who are committing fraud. That is silly.

There of course is some fraud, but the elimination of fraud would not make a material difference in the basic situation.

Carrol



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