American Monetary Act
Charles, what kind of Marxist are you? Abolish interest without abolishing the profit system? Print money to fund infrastructure investment? This is classic populist snake oil! Doug ^^^^ CB: Well, maybe interest taking is rent, rather than profit taking , strictly, but it all gets rolled into profit in some sense. ^^^^^^^ CB: Isn't interest taking part of the profit system ? ^^^^^^^^ CB: No aya contradiction between both. Can't we abolish interest and abolish the profit system , both ? Did Marx teach that there would still be interest in socialism ? Would there be banks collecting interest and creating money in Marx's socialism ? CB: I'm trying to figure out whether the capitalist system has qualitatively new characteristics related to the dominance of finance capital over the rest. This seems to imply we have to have a direct struggle against finance capital that was not there in the classic Marxist struggles. >From my discussions with you over the years, I understand that you believe that Lenin's analysis of finance capital is out of date. What are the new characteristics of finance capital , and what form should the struggle against them take ? Should we be focussing on the industrial proletariat still ?
