tag:blogger.com,1999:blog-4073991368963140015.post6897195059287428231..comments2023-11-05T12:18:27.222+00:00Comments on Labour And Capital: Capitalism in crisis! Or is it?Tom Powdrillhttp://www.blogger.com/profile/05511483398745094803noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4073991368963140015.post-15554528535248190672008-09-16T12:48:00.000+00:002008-09-16T12:48:00.000+00:00Everything to play for now!Everything to play for now!Tom Powdrillhttps://www.blogger.com/profile/05511483398745094803noreply@blogger.comtag:blogger.com,1999:blog-4073991368963140015.post-57760317548073177002008-09-14T03:26:00.000+00:002008-09-14T03:26:00.000+00:00I agree with you, the labour movement must be proa...I agree with you, the labour movement must be proactive. Already the TUC has voted for the renationalisation of public utilities (very much against the advice of Barber and co) and for a progressive tax system with the burden on the wealthiest (this bit was Barber and others). Compass has been campaigning for a windfall tax on the energy companies, something which has galvinised Labour MPs and perhaps reawakening a sense of social justice.<BR/><BR/>I note that the governor of the bank of england has warned against public intervention in the mortgage market - the fear being that custom will dry up for the big banks. Given that reckless mortgage lending has been problematised and the actions of the banks with regards charges and record profits, there's not going to be much sadness at their decline amongst the general public... As it stands, the cooperative bank and the building societies are benefiting from growing distrust in the big banks.<BR/><BR/>Now consider that the financialisation of the economy in the last three decades has occured in tandem with the managed decline of the productive economy - which though unpopular, appeared sustainable. But now the costs of imported food and fuel are rising, necessitating investment in domestic energy supplies and increased domestic production of food and perhaps other consumer goods.<BR/><BR/>This is not yet a systemic crisis. The ability of the capitalist class to excerice hegemony is weakened, but not threatened politically by a counterveiling bloc led by the party of organised labour...Charlie Markshttps://www.blogger.com/profile/12770820928636046622noreply@blogger.com