Comments on: on the roots of the economic crisis and some proposed solutions http://thecommune.wordpress.com/2009/07/12/on-the-roots-of-the-economic-crisis-and-some-proposed-solutions/ for workers' self-management and communism from below Fri, 25 Dec 2009 17:06:50 +0000 http://wordpress.com/ hourly 1 By: Nathan Coombs http://thecommune.wordpress.com/2009/07/12/on-the-roots-of-the-economic-crisis-and-some-proposed-solutions/#comment-3100 Nathan Coombs Tue, 14 Jul 2009 08:16:16 +0000 http://thecommune.wordpress.com/?p=3042#comment-3100 Excellent analysis that in my opinion is only lacking the incorporation of global capital into its framework. After all, since the 1970s in China the labour value extracted and circulated into the global economy has played a very large role in generating 'cheap credit' and suppressing inflation - thus keeping at bay the antagonisms capitalism generates. This cannot go on forever, however, and I think the phenomenal capitalist boom in China will not be repeated on the same scale anywhere else in the world; certainly not under the same conditions of super high Chinese savings rates, and massive U.S. government bond and dollar hoarding by the CCP. Its a shame I could not make the forum, this is fascinating. Excellent analysis that in my opinion is only lacking the incorporation of global capital into its framework. After all, since the 1970s in China the labour value extracted and circulated into the global economy has played a very large role in generating ‘cheap credit’ and suppressing inflation – thus keeping at bay the antagonisms capitalism generates.

This cannot go on forever, however, and I think the phenomenal capitalist boom in China will not be repeated on the same scale anywhere else in the world; certainly not under the same conditions of super high Chinese savings rates, and massive U.S. government bond and dollar hoarding by the CCP.

Its a shame I could not make the forum, this is fascinating.

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