Thursday, May 10, 2018

Marx 200: Marx to Trump - Richard Wolff

Democracy and Class Struggle says China's move to demand management and its move to internal market consumption away for export orientated economy does not take China beyond capitalism.

It makes Chinese State market capitalism more effective than the extreme neo liberal model - the capitalist business cycle has re-emerged in China but it does not have the peaks and troughs associated with the more extreme neo liberal economies.

Higher wages were associated with the previous Scandinavian capitalist model before the neo liberals demolished it -which shows the range of possible capitalism's. Also no mention of strike wave in China which produced higher wages - yes class struggle is alive and well in China.

Understanding the difference between capitalism and socialism has become blurred in the 20th century by revisionism which was why we produced our study Marxism Against Market Socialism.

The clarity on what socialism is - is a battle that still has to be fought in the 21st Century.

PS: Note On Marxist Economics in China

No comments: