Sections (TOC) :
• 1
19 Words; 122 Characters
• 2
43 Words; 273 Characters
• 3
49 Words; 316 Characters
• 4
30 Words; 225 Characters
• 5
90 Words; 530 Characters
• 6
127 Words; 886 Characters
Sections (Content) :
• 1
...the unplanned market economy of the past in Britain and in America must itself be judged and stands condemned.
• 2
The inability of the unplanned market economy is not accidental: it is inherent. Modern analysis makes it possible to state categorically that, in the absence of planning there will be fluctuations. How severe they would be, in future, theory alone cannot tell us.
• 3
...the generic features of capitalism that contribute to the obscuring and securing of surplus labor, namely, the system of wage labor, the subordination of the worker to the labor process, and the mystifying effects of the market. Beyond these, a variety of different mechanisms contribute to the same end.
• 4
The history of the capitalist system affords many illustrations of how blind competition among capitalists, with the resultant phenomenon of over-production, affects the economic and social well-being of the workers.
• 5
...that latest addition to the armory of the Establishment, the economic index. A remarkably simple thing in itself, a mere number in fact, yet one that is treated with unabashed reverence. Apparently one has but to consult it to comprehend the entire condition of society. Among the faithful, and they are legion, any doubt that, say, a four percent growth rate, as revealed by the index, is better for the nation than a three percent growth rate is near-heresy; is tantamount to a doubt that four is greater than three.
• 6
An unbroken period of fixed exchange rates with all the day-to-day, week-to-week and year-to-year preoccupation with these thorny, albeit familiar, problems about stock-piling, seasonal variations, 'leads and lags', the movement of gold and the exchange of reserves, foreign confidence and central-bank cooperation, to say nothing of a succession of international conferences with endless proposals for increasing international liquidity and expanding international trade, all this has created stubborn material and intellectual interests. The cumulated weight of years of habitual response lies heavy on our spirit, and though our political leaders follow the fashion and croak 'challenge' from time to time there has been no response in terms of political ingenuity. For the recurring ailment nothing but more of the same old medicine: sweat, toil and exhortations to export.
Chronology :
April 11, 2020 : The Market -- Added.
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