27
Modern Monetary Theory debunked (ish)
(youtu.be)
Banned? DM Wmill to appeal.
No anti-nautilism posts. See: Eco-fascism Primer
Vaush posts go in the_dunk_tank
Dunk posts in general go in the_dunk_tank, not here
Don't post low-hanging fruit here after it gets removed from the_dunk_tank
From Michael Hudson’s Killing the Host, Ch. 28:
Hudson has never said that the goal is simply to get rid of finance capitalism. Hudson followed the true Marxist fashion of saying that industrial capitalism as envisioned by the classical political economists (Smith, Ricardo) will ultimately end in creating the material conditions necessary for socialism to be achieved.
Hudson is saying that defeating finance capitalism (rentier and landlord class) will pave the way for industrial capitalism to return, which as Marx himself had explained in Capital Vol. 1, will follow the historical process towards socialism.
In other words, Marx brought Smith and Ricardo’s theses to their logical conclusion, using historical and dialectical materialism, and showed that socialism became inevitable under (industrial) capitalism.
That’s silly. So he wants to revert capitalism from its imperialist stage into the one Marx analyzed so Marx’s original vision would be carried out. Hudson said himself the only country close to his ideal industrial capitalism is China, and its socialist. Who is his proposition for, and how does he plan to revert away from imperialism? Also, when has industrial capitalism ever lead to socialism? Socialism has happened in pre and semi capitalist colonies.
???
You’re confusing me. That’s literally Capital, Vol 1.
Lenin explicitly stated in Imperialism: the Highest Stage of Capitalism that imperialism was about the expansion of finance capital.
From Lenin’s Introduction to Bukharin’s Imperialism and Global Economy:
I know what imperialism is lol. I’m saying how the hell do you think you can reverse it rather than simply going through? It is a reactionary and petty bourgeois error to try to reverse the development of capitalism. Answer my question: why is going to a specific past stage of capitalism which had no successful socialist revolutions the best plan of action? We don’t have time for this, the climate clock is ticking.