Re: Re: Marx and financial crises

[Doug Henwood]

Apropos Ted's psychoanalysis of crisis, I think one of the mechanisms 
by which modern bailouts work is psychological - they put a cap or 
collar (to use the language of derivatives) on fear, thereby slowing 
the rush to the exits to a more manageable pace. This will no doubt 
outrage some Freud-hating Marxists, but I don't see how anyone who's 
followed the financial history of the post-WW II era can conclude 
otherwise - except to cling to a faith in the Big One to come.

Doug