[Pen-l] nationalizing debt

["Chris Burford" <cburford@xxxxxxxxxx>]

"The only part of the so-called national wealth that actually enters into 
the collective possessions of modern peoples is - their national debt"
paras 11 and 12 of Chapter XXXI of Capital Vol 1

Is this in essence what we are seeing now, with leading governments and 
commentators urging the socialising of debt now on an international level? 
Because countries like Iceland and say Poland, or Hungary may not be able to 
nationalize all their debt.


Or is this remark too sarcastic and too out of date to fit a context in 
which consumer capitalism has developed markets, however fragile, that to 
some extent have allowed workers a share in national wealth?

even though a market like supplying aspirational housing to working people 
with a marginal ability to keep up mortgages, is a precarious example of 
trying to develop new markets?

Chris Burford
London


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