On Nov 22, 2009, at 2:11 PM, Eric Beck wrote:
> But what percentage of people in the developed world, and even in the
> developing world, have credit cards? Not to mention auto loans, home
> loans, and the like. Plus more and more people have to make
> entrepreneurial-type choices about consumption versus savings, etc.
> Isn't it true that debt structures more peoples' lives than ever
> before?
Yes, it's true. I think someone or other coined a term "secondary exploitation" to describe it. But this strikes me as a new wrinkle on being working class rather than some kind of petit bourgeoisification. The central point of being p.b. is being between the capitalists and the workers, having one foot in each camp. There are many ways in which today's workers are more like 19th century workers than those of the mid-20th century, as unions disappear and state supports weaken.
Doug