[PEN-L:7730] Re: Leninism

["Charles Brown" <CharlesB@xxxxxxxxxxxxxxxxxxxxx>]

>>> Terrence Mc Donough <TERRENCE.MCDONOUGH@xxxxxxxxxxxx> 06/04/99 09:21AM >>>


> On point (1) - we're a long way from the Hilferdingesque world that Lenin
> wrote and thought about. Competition has intensified, finance and industry
> haven't joined into a single unit (bank-supervised cartels), etc. So while
> 1917 was different from 1817, 1999 is pretty different from 1917, too. On
> point

My only point here is that Lenin made a substantial contribution to
the Marxian theory of capitalist stages, not that we are currently
confronting the same stage which confronted Lenin.

(((((((((((((((

Charles: Seems to me there has been a merger of financial and industrial capital. Wallstreet seems exactly that. Doug Henwood points out that there is a recent trend of corporations raising money through borrowing not so much stocks. That is they borrow from financial institutions. That relationship is a merger of industry and finance.

Charles Brown