From: troy c
________________________________
The valuations as determined by the machinations of the stock market are how
capitalists understand their own successes and failures.
^^^^
CB; Do the richest capitalists have many failures on the stock market ?
^^^^^
It is the realm where owners pass judgment on all manner of social events
and their expected impact upon the earnings of capital. Recently the value
of Toyota has been soaring, while GM is famously in the doldrums.
Activists/revolutionaries/leftists should try to understand what is going on
beneath these movements.
One of the most important lessons we can learn is that the capitalist class
is far from homogeneous. The market divides winners and losers.
^^^^^
CB; How many loser _capitalists_ are there ? Most of the losers aren't
capitalists, are they ?
^^^
Dominant powers have long capitalised (literally) on the divisions they can
sow among the diverse members of the resistance class. Perhaps we can take
a page from their playbook and return the favour. It is the market that
will provide clues as to where the points of conflict are at their most
intense.
Jim D wrote:
does everything have to be relevant to political action?
me:
> If the stock market were to be
> open 1 day a week, it would serve its purpose for capitalism
without
> all the useless brouhaha.
Doug:
> No it wouldn't. The whole point of the stock market is to make
> private claims on social wealth readily tradable and immediately
> liquid, at least in potential. Yes, the daily gyrations are
> economically meaningless, but having the means of production up
for
> constant sale is at the root of modern capitalism.
On 3/1/07, Charles Brown wrote:
> CB: What significance does this have for political action ?
--
Jim Devine / "The truth is more important than the facts." -- Frank
Lloyd Wright
