On Tue, Mar 26, 2024 at 11:58 AM, hari kumar wrote: > > Still trying to understand your position. > It seems that you do not accept that the Sate is the executive body of the > ruling class - which in the USA - represents the leading top fraction of > private owners of society.
Rest assured, Hari, that I continue to believe that the state is the executive body of the ruling class, that the ruling class comprises the large private corporations, and that the capitalist state acts in their collective interest to ensure "fair competition", social stability, and to otherwise advance their domestic and foreign agenda. In the US, Wall Street embodies the "leading top fraction of prtvate owners of society", as you put it, dictating to the state. My point was that, by contrast, the state rather than the private sector owns the big banks in China and appoints and dictates to their boards of directors. While there are large private corporations and many billionaires in China's high-tech, real estate, and auto industries, for example, there is no equivalent to Wall Street in China's financial sector. Neither the heads of the big banks nor those who regulate them derive their wealth from their *ownership* of state assets which they are then able to trade on the market and pass on to their heirs. On the other hand, if you're an adherent of the "state capitalist" school which believes that state officials are a "new class" whose power and privileges are based on their *control* rather than ownership of state property, then I can see where my position might seem confusing . -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#29687): https://groups.io/g/marxmail/message/29687 Mute This Topic: https://groups.io/mt/105142448/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
