[lbo-talk] [Pen-l] PBS documentary: "Park Avenue: Money, Power & the American Dream"

c b cb31450 at gmail.com
Mon Nov 19 08:15:26 PST 2012


Marv:


> What did change at the end of the century was the balance of class forces.
This
> profound shift, rather than sudden appearance of a generation of Gordon
> Gekkos, is what underlies today's "neoliberal" capitalist excesses. The
regulated
> welfare state and modest reduction in inequality were the the product of
an
> expanding industrial economy and labour shortages which produced strong
trade
> unions able to place some restraint on unbridled capitalism. By the same
token,
> the assault on the welfare state and widening inequality are a consequence
of the
> abrupt decline of the labour and socialist movement under the combined
pressure
> of new communications, transportation, and production technologies which
have
> allowed capital to shed workers at home and tap huge new reserves of
cheaper
> labour overseas. Politically, the unexpected restoration of capitalism in
the fSU and
> China also discredited left-wing ideas everywhere, and we're only now
beginning
> to see their revival under the impact!
> of crisis in the older capitalist economies.

Carrol Cox :

This is superb!

^^^^ CB: Ditto



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