Rakhmetov
6th November 2010, 17:58
I think the IMT is the vanguard of the world's incipient revolutionary movement. They are far ahead in terms of theory, resources, influence than any run-of-the mill communist or socialist party.
Elections are a snapshot of society at a given moment, and these elections took place in a very specific context. The world capitalist system is in its worse crisis since the end of World War II. The US capitalist system in particular is in a state of prolonged decay. Capitalism has a tendency to produce more goods than it can sell at a profit, due to its exploitation of the working class. In other words, with the wages they receive for their labor, workers are unable to buy back all the goods they produce, because a large portion of the wealth they create goes directly or indirectly to the capitalists in the form of profits. This means that the system periodically clogs up, as it has produced “too many” cars, homes, hospitals, etc. Not “too many” when it comes to meeting human needs, but too many to sell on the market at a profit.
When capitalism moves into crisis, it must destroy “excess” production and productive capacity before it can return to profitability. But this can only be done at the expense of the working class, by driving down wages and benefits, creating massive unemployment, and shutting down perfectly good factories. The downturn in the economy also means a reduction in tax revenues for the government, and this tends to force the government to increase taxes and borrowing, along with cuts in expenditures, starting with social expenditures. In other words, the working class is made to pay for the crisis.
Although the post-World War II boom ended in the 1970s, the capitalist class tried to deal with the crisis through a huge expansion of credit. That is why in the 1990s and 2000s, everyone had multiple credit cards and many people had 2nd or 3rd mortgages and home lines of credit. However, Marx explained that although the extension of credit can allow capitalism to continue to artificially expand for a time, it will eventually increase the severity of the crisis when the bill is due. We saw this with the economic meltdown of late 2008.
http://www.marxist.com/usa-election-2010-how-can-workers-fight-back.htm
Elections are a snapshot of society at a given moment, and these elections took place in a very specific context. The world capitalist system is in its worse crisis since the end of World War II. The US capitalist system in particular is in a state of prolonged decay. Capitalism has a tendency to produce more goods than it can sell at a profit, due to its exploitation of the working class. In other words, with the wages they receive for their labor, workers are unable to buy back all the goods they produce, because a large portion of the wealth they create goes directly or indirectly to the capitalists in the form of profits. This means that the system periodically clogs up, as it has produced “too many” cars, homes, hospitals, etc. Not “too many” when it comes to meeting human needs, but too many to sell on the market at a profit.
When capitalism moves into crisis, it must destroy “excess” production and productive capacity before it can return to profitability. But this can only be done at the expense of the working class, by driving down wages and benefits, creating massive unemployment, and shutting down perfectly good factories. The downturn in the economy also means a reduction in tax revenues for the government, and this tends to force the government to increase taxes and borrowing, along with cuts in expenditures, starting with social expenditures. In other words, the working class is made to pay for the crisis.
Although the post-World War II boom ended in the 1970s, the capitalist class tried to deal with the crisis through a huge expansion of credit. That is why in the 1990s and 2000s, everyone had multiple credit cards and many people had 2nd or 3rd mortgages and home lines of credit. However, Marx explained that although the extension of credit can allow capitalism to continue to artificially expand for a time, it will eventually increase the severity of the crisis when the bill is due. We saw this with the economic meltdown of late 2008.
http://www.marxist.com/usa-election-2010-how-can-workers-fight-back.htm