Subject: Re: Role of the state Date: Thu, 23 Feb 95 09:23:32 +0000 From: wpc-AT-cs.strath.ac.uk I would view the erosion of the ability of the state to control capital flows and investment decisions as stemming from politics and ultimately from class struggle rather than an inherent development of the economy. The state in the 19th century had no control over capital flows. It was only in the mid 20th century after the experience of a semi- socialised economy during wartime that such controls arose. There persistence after that was a concession to the political strength of labour, and allowed full employment and welfareist policies. It is the political defeat of the working-classes in the developed countries after the 1970s culminating in the counter-revolutions in the former socialist countries, that have allowed the recreation of footloose capital. This in turn politically weakens labour. --- from list marxism-AT-lists.village.virginia.edu --- ------------------
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