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GM offers an ironic confirmation of Marxist logic. According to orthodox Marxism, the capitalist system becomes fascist as its internal contradictions get the better of it. As a theory of political economy, this analysis falls apart. But at the retail level, there's an undeniable truth to it. Industries that once had a proudly free-market stance suddenly sprout arguments in favor of protectionism, "industrial policy," and "strategic competitiveness" once they find that they can't hack it in the market. The steel and textile industries, certain automobile companies--Chrysler in the 1980s, GM today--and vast swaths of agriculture claim that the state and business should be "partners" at precisely the moment it's clear they can no longer compete. They quickly become captives of politicians seeking to protect jobs or donations or both. These "last-gasp capitalists" do the country a great disservice by skewing the political climate toward a modified form of national socialism and corporatism. They're fleeing the rough-and-tumble of capitalist competition for the warm embrace of It Takes a Village economics, and Hillary Clinton calls it "progress." Posted by: Mike 2009-06-08 |
| http://www.rantburg.com/poparticle.php?ID=271488 |