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Re: [Pen-l] Re: 7 Marxists on the current economic crisis


On Jul 16, 2008, at 12:23 PM, Gernot Koehler quoted:

And so the financial system has begun to target the personal income of private individuals - workers and broader strata of the population - as a source of profit.
This is a new departure in capitalism.

New? It's growing, for sure, but mortgage lending and consumer credit are very old in the U.S. Less old elsewhere, but we're still talking decades.

And if you want to go back, there's the company store.

Doug
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