this post was submitted on 01 Jan 2024
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I agree in general, but I’d like to add that WWII was a new lease on life for capitalism. It was pushed to the brink of its limits of capital accumulation culminating in the Great Depression. There was a great mass of surplus capital that hindered production. The wars destroyed that surplus by decimating European industry. This essentially set back capitalism to a time when the profit margins were higher due to high portions of variable capital. The US got lucky in this scenario as it’s capital remained in tact, so it was able to export and become rich of the new imperial vassals it exported to. Imperialism is the export of capital to places where the rate of profit is higher.
I won’t pretend I’m an expert, I just recently read ‘socialism or extinction.’
Oy vey. Well lets hope that wont happen again, but I doubt that the US is going to really be personally be affected by by any conflict it starts. Beyond all the dead poor people they throw into whatever meat grinder they get going.
Also I might have to give that book a read.
I wouldn't bet on the empire having a chance. The drive to war is only harming capitalism at this point, though also a lot of real people. Definitely read it.