Bill Burgess wrote: > At 12:03 PM 15/09/99 -0400, Doug wrote: > > >Actually they had a big struggle over that in the 1980s - just how > >much direction major corps were going to take from Wall Street. Wall > >Street won, but the very fact that there was a struggle suggests that > >it's not quite so top-down as all that. > > > > So, are there really different sectors involved in the circuit of capital? > _Wall Street_ suggests that industrial firms are essentially > self-financing, using aggregate data. But as noted above, 'Wall Street' has > been gaining power. Isn't this a contradiction? Back in the '70s there was a debate in *Socialist Revolution* over who owns the corporations -- a debate that revolved around this distinction between industrial and finance (bank) capital. If I can remember it correctly, the most impressive article in the series was by Jim O'Connor and was entitled "Who Owns the Corporations? Capitalists Do." Viewed *politically* is there any real difference within the capitalist class based on this real or alleged distinction between finance capital and industrial capital. (Definitions of fascism based on the distinction seem to me to be not only incorrect now but also wrong when they were first promulgated.) Carrol
