Subject: Re: AUT: Workers' Credit
From: chris wright <cwright-AT-megapathdsl.net>
Date: 12 Dec 2004 13:14:52 -0500


Thiago,

There is a paucity of material on this question, but IMO it is one of
the strong suits of the work around crisis done by Holloway and
Bonefeld.  Bonefeld has two books on Britain ('The Recomposition of the
British State in the 1980's' and 'A Major Crisis?') which deal with debt
fairly seriously, and their book 'Global Capital, National State, and
Money' (which is a bit dated, now.)

Also, Loren Goldner has a large interest in this:
http://home.earthlink.net/~lrgoldner/dollarcrisis.html
http://home.earthlink.net/~lrgoldner/pause.html
http://home.earthlink.net/~lrgoldner/twoshort.htm
http://home.earthlink.net/~lrgoldner/notesonamerica.html
And other stuff on his site.  I am not sure which is most interesting
for you but I think that some of this is present.

Also, a non-radical but intellegent neo-marginalist site which addresses
this quite a bit is http://www.prudentbear.com

Not sure what else is out there, but it seems like damn little for such
an obvious problem.

Cheers,
Chris


On Sun, 2004-12-12 at 04:34, Thiago Oppermann wrote:
> On 12/12/2004 6:19 PM, "nik" <fragments-AT-va.com.au> wrote:
> 
> > i don't know of any specific works on the shift, but i did want to
> > add that i think its as much about 'autonomy' as security. That is,
> > the much valued financial independence (not only with regards as
> > income but as rent: i.e., the whole 'why pay someone else's mortgage
> > off?' deal) is an expression of a desire to be free of the work-place
> > in some sense. obviously not entirely (or principally), but still
> > definitely an expression of a desire to not be managed or bossed
> > around.
> 
> 
> That's definitely my impression, but it's kind of a crazy of way of wanting
> to be free. Are wages that bad people would rather deal with banks? The
> ideological effects of mass credit are very serviceable for the government.
> It really bypasses the whole of democracy to plug your life directly into
> the technocracy. 
> 
> I suppose that is indeed part of the answer. One thing that I am interested
> in is the way 'financialization' transfers the old antagonism towards the
> boss to antagonism towards (a) the bank, (b) the interest rate itself as a
> measure of the banks power and therefore (c) anyone who would threaten the
> interest rate. 
> 
> There is a school of capitalists who make the mirror image argument of
> debt-as-autonomy. I've been digging around Australia, so I came across this
> little beaut: http://www.leithner.com.au/circulars/circular21.htm  The guy
> is an arch ghoul who thinks that Access Economics, ie. the conservative
> government's preferred think tank, is a nest of Keynesians, but lunacy
> aside, he is really the advance guard of the capitalist panic at 'financial
> democracy'.  Recently the Reserve Bank has made noises of this sort;  even
> the PM, who basically won the election thanks to cheap credit, has started
> to say that high levels of household debt is a threat to the national
> economy.
> 
> 
> 
> 
> 
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