[PEN-L:31528] Re: busted - bourgeois right!

[Chris Burford <cburford@xxxxxxxxxx>]

At 22/10/02 20:33 -0700, you wrote:


> http://www.theonion.com/onion3839/63_percent_of_us.html
> WASHINGTON, DC-The Securities and Exchange Commission announced Tuesday that
> more than 63 percent of all U.S. citizens have been implicated in an illegal
> stock-dumping, the latest scandal to rock the nation's economy.


According to this report the mal-function of the smooth workings of
capitalism in this case are so massive that it calls into question the
viability of bourgeois right as the bourgeois legal basis of capitalism.

This event is likely to occur more frequently, with the speed and extent of
modern communications. The problem for capitalism is that the dialectical
materialist principle that everything is connected with everything else,
now applies to owners of stocks. With half the population of the USA with a
stake in the stock exchange rapid exponential effects like this will
happen. They will be part of the system.

It reflects of course on the fact that as Marx argued the capitalist
company is an expression of the social nature of the means of production.
But the private ownership of the means of production is fundamental to the
continued existence of capitalism. And now for the sucker class of stock
owners, what they own is not outright ownership but a slice of a
probability or not of dividends and capital appreciation or loss.

They will need more regulation not less. This will require the executive
class of the capitalist top intelligentsia to be more closely regulated.

The political servants of finance capitalism in power will have to consider
more and more large scale measures for stabilising the functioning of the
economy. They will be impelled to try to ensure that stock depreciation
does not start to bite into the circulation of goods and services by
restricting the purchasing power of the masses.

What is missing in these  developments towards socialism, are scientific
consciousness and class struggle.

Chris Burford

London