American Monetary Act

[Charles Brown <cbrown@xxxxxxxxxxxxxxxxx>]

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that Lenin's analysis of finance capital is out of date.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 ?